Cullen Frost Bankers Inc. Has $31.72 Million Stock Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Cullen Frost Bankers Inc. increased its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 35.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 71,305 shares of the medical equipment provider’s stock after buying an additional 18,745 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Intuitive Surgical were worth $31,720,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Intuitive Surgical by 1.6% in the first quarter. Vanguard Group Inc. now owns 30,868,620 shares of the medical equipment provider’s stock worth $12,319,358,000 after purchasing an additional 493,126 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Intuitive Surgical by 1.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,973,266 shares of the medical equipment provider’s stock worth $5,726,102,000 after purchasing an additional 272,741 shares during the last quarter. Capital World Investors raised its stake in shares of Intuitive Surgical by 1.0% in the first quarter. Capital World Investors now owns 7,284,269 shares of the medical equipment provider’s stock worth $2,907,079,000 after purchasing an additional 73,634 shares during the last quarter. Edgewood Management LLC raised its stake in shares of Intuitive Surgical by 7.9% in the fourth quarter. Edgewood Management LLC now owns 5,131,066 shares of the medical equipment provider’s stock worth $1,731,016,000 after purchasing an additional 374,667 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Intuitive Surgical by 4.6% in the first quarter. Jennison Associates LLC now owns 4,488,343 shares of the medical equipment provider’s stock worth $1,791,253,000 after purchasing an additional 198,483 shares during the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ISRG shares. The Goldman Sachs Group started coverage on Intuitive Surgical in a report on Thursday, May 30th. They issued a “buy” rating and a $500.00 target price for the company. Stifel Nicolaus increased their price objective on Intuitive Surgical from $430.00 to $475.00 and gave the company a “buy” rating in a report on Friday, July 19th. Barclays increased their price objective on Intuitive Surgical from $430.00 to $490.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Evercore ISI dropped their target price on Intuitive Surgical from $425.00 to $410.00 and set an “in-line” rating on the stock in a research report on Friday, July 19th. Finally, Morgan Stanley increased their price objective on Intuitive Surgical from $375.00 to $460.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Intuitive Surgical presently has an average rating of “Moderate Buy” and a consensus price target of $446.45.

Intuitive Surgical Price Performance

NASDAQ:ISRG traded down $4.87 on Friday, reaching $471.82. The stock had a trading volume of 1,700,169 shares, compared to its average volume of 1,518,588. Intuitive Surgical, Inc. has a 12-month low of $254.85 and a 12-month high of $493.97. The firm’s fifty day moving average is $458.74 and its two-hundred day moving average is $417.98. The company has a market cap of $167.35 billion, a price-to-earnings ratio of 85.17, a P/E/G ratio of 5.43 and a beta of 1.39.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings data on Thursday, July 18th. The medical equipment provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.24. Intuitive Surgical had a net margin of 27.65% and a return on equity of 13.04%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the company posted $1.18 EPS. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, research analysts forecast that Intuitive Surgical, Inc. will post 5.22 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Henry L. Charlton sold 40,243 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $486.84, for a total transaction of $19,591,902.12. Following the completion of the sale, the senior vice president now owns 3,001 shares of the company’s stock, valued at approximately $1,461,006.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Intuitive Surgical news, SVP Henry L. Charlton sold 40,243 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $486.84, for a total value of $19,591,902.12. Following the completion of the transaction, the senior vice president now owns 3,001 shares in the company, valued at approximately $1,461,006.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Robert Desantis sold 188 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $482.21, for a total value of $90,655.48. Following the completion of the transaction, the executive vice president now owns 5,506 shares of the company’s stock, valued at approximately $2,655,048.26. The disclosure for this sale can be found here. Insiders sold a total of 51,656 shares of company stock valued at $24,700,644 in the last 90 days. 0.90% of the stock is currently owned by insiders.

Intuitive Surgical Company Profile

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.