During the third quarter, Cullen Frost Bankers Inc. boosted its position in Intuitive Surgical by purchasing 3,450 additional shares, taking its total holding to 82,056 shares. According to the latest SEC filing, the firm’s stake in the medical robotics pioneer was valued at approximately $36.7 million at the end of the period. This 4.4% increase underscores the bank’s confidence in Intuitive Surgical’s long-term growth trajectory, particularly as the company continues to expand the installed base of its da Vinci systems globally.

Other major investors also adjusted their positions in the third quarter. Commerzbank Aktiengesellschaft FI added 752 shares, raising its holdings by 6.8% to 11,802 shares valued at $5.3 million. Whittier Trust Co. of Nevada increased its stake by 8.8%, adding 3,964 shares to reach 49,093 shares, while Whittier Trust Co. acquired an additional 7,128 shares for a 7.7% rise to 100,093 shares. CIBC Asset Management grew its position by 1.3%, lifting its total to 159,566 shares worth $71.4 million. Of note, Robocap Asset Management Ltd. expanded its exposure by 27.2%, adding 3,109 shares for a closing balance of 14,542 shares. Institutional investors and hedge funds now own over 83% of the company’s stock.

In its fourth-quarter disclosure, Intuitive Surgical reported adjusted earnings per share of $2.53 on revenue of $2.87 billion, surpassing consensus estimates by $0.26 and $150 million, respectively. The quarter’s revenue represented an 18.8% increase year-over-year, driven by a 15% rise in procedure volume across key markets. Management projected da Vinci procedure growth of 13% to 15% for the full year, slightly below the prior year’s 18% expansion but reflecting continued demand in North America and select emerging regions. Return on equity held steady at 15.2%, while net margin improved to 28.4%, bolstered by service and instrument revenue mix shifts.