Commerce Bank Sells 653 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Commerce Bank reduced its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 4.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,411 shares of the medical equipment provider’s stock after selling 653 shares during the period. Commerce Bank’s holdings in Intuitive Surgical were worth $7,571,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Ridgewood Investments LLC bought a new stake in Intuitive Surgical in the second quarter valued at approximately $26,000. Godsey & Gibb Inc. lifted its holdings in Intuitive Surgical by 140.0% during the third quarter. Godsey & Gibb Inc. now owns 60 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 35 shares in the last quarter. Creekmur Asset Management LLC grew its stake in Intuitive Surgical by 200.0% in the first quarter. Creekmur Asset Management LLC now owns 63 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 42 shares during the period. LGT Financial Advisors LLC increased its holdings in shares of Intuitive Surgical by 415.4% in the second quarter. LGT Financial Advisors LLC now owns 67 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 54 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Intuitive Surgical during the third quarter worth about $33,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ISRG has been the subject of a number of research reports. Redburn Atlantic raised Intuitive Surgical from a “neutral” rating to a “buy” rating and increased their target price for the stock from $380.00 to $510.00 in a research note on Friday, August 2nd. Piper Sandler restated an “overweight” rating and set a $538.00 price objective (up from $495.00) on shares of Intuitive Surgical in a report on Friday, October 18th. Evercore ISI reaffirmed a “cautious” rating on shares of Intuitive Surgical in a research note on Friday, October 18th. Wells Fargo & Company lifted their price target on Intuitive Surgical from $466.00 to $549.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, Mizuho lifted their target price on Intuitive Surgical from $440.00 to $500.00 in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $524.61.

Insider Transactions at Intuitive Surgical

In other news, Director Amy L. Ladd sold 450 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $490.28, for a total transaction of $220,626.00. Following the sale, the director now directly owns 821 shares in the company, valued at approximately $402,519.88. The trade was a 35.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jamie Samath sold 22,903 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $525.00, for a total transaction of $12,024,075.00. Following the completion of the transaction, the insider now owns 8,757 shares of the company’s stock, valued at approximately $4,597,425. This trade represents a 72.34 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,935 shares of company stock valued at $26,305,169. 0.90% of the stock is owned by corporate insiders.

Intuitive Surgical Stock Up 1.6 %

NASDAQ:ISRG opened at $550.43 on Friday. Intuitive Surgical, Inc. has a 12-month low of $304.50 and a 12-month high of $551.78. The firm has a market capitalization of $196.05 billion, a price-to-earnings ratio of 88.49, a P/E/G ratio of 5.30 and a beta of 1.39. The stock’s 50 day moving average price is $503.57 and its two-hundred day moving average price is $461.88.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.32. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Intuitive Surgical had a return on equity of 13.41% and a net margin of 28.51%. Equities research analysts expect that Intuitive Surgical, Inc. will post 5.45 EPS for the current year.

About Intuitive Surgical

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.