During the third quarter, Cullen Frost Bankers Inc. increased its holding in Intuitive Surgical by 4.4%, acquiring an additional 3,450 shares to reach a total of 82,056 shares valued at $36.7 million as of the latest SEC filing. Other notable shifts include Commerzbank Aktiengesellschaft FI boosting its stake by 6.8% to 11,802 shares ($5.278 million), Whittier Trust Co. of Nevada lifting its position by 8.8% to 49,093 shares ($22.207 million), Whittier Trust Co. expanding its holding by 7.7% to 100,093 shares ($45.277 million), CIBC Asset Management Inc. adding 1.3% to reach 159,566 shares ($71.363 million), and Robocap Asset Management Ltd. growing its position by 27.2% to 14,542 shares ($6.504 million). Institutional and hedge fund ownership now stands at approximately 83.64%.

In December and October research notes, several major brokerages adjusted their outlooks. Truist Financial raised its price target from 620.00 to 650.00 and maintained a buy recommendation, while BTIG Research reaffirmed its buy rating with a 616.00 target. Royal Bank of Canada lifted its target from 625.00 to 650.00 and assigned an outperform rating, and Leerink Partners elevated its objective from 593.00 to 600.00 with an outperform stance. HSBC increased its target from 595.00 to 644.00, reiterating a buy rating. Of the 26 analysts covering the company, one rates it strong buy, fifteen buy, nine hold and one sell, yielding an average target of 617.57 and an overall Moderate Buy consensus.

In its fourth quarter report, Intuitive Surgical delivered earnings per share of 2.53, surpassing consensus estimates of 2.27 by 0.26, and reported revenue of 2.87 billion, exceeding forecasts of 2.72 billion and representing an 18.8% year-over-year increase. The company achieved a return on equity of 15.18% and a net margin of 28.38%. During the quarter, da Vinci system procedure volume growth remained robust, supported by ongoing instrument and accessory sales, while management reiterated its long-term target of double-digit procedure growth and highlighted the expanding installed base in North America and select international markets.