Intuitive Surgical (NASDAQ:ISRG) Earns “Overweight” Rating from Piper Sandler

Intuitive Surgical (NASDAQ:ISRG)‘s stock had its “overweight” rating reissued by research analysts at Piper Sandler in a research note issued on Friday, Benzinga reports. They presently have a $538.00 target price on the medical equipment provider’s stock, up from their previous target price of $495.00. Piper Sandler’s price target would suggest a potential upside of 4.98% from the stock’s current price.

Several other research firms have also weighed in on ISRG. Truist Financial increased their target price on Intuitive Surgical from $520.00 to $570.00 and gave the company a “buy” rating in a research note on Monday. Robert W. Baird increased their price target on Intuitive Surgical from $503.00 to $565.00 and gave the stock an “outperform” rating in a report on Thursday. Leerink Partners increased their price target on Intuitive Surgical from $489.00 to $502.00 in a report on Thursday. BTIG Research increased their price target on Intuitive Surgical from $494.00 to $518.00 and gave the stock a “buy” rating in a report on Monday. Finally, Morgan Stanley increased their price target on Intuitive Surgical from $375.00 to $460.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Intuitive Surgical currently has a consensus rating of “Moderate Buy” and an average target price of $496.95.

Intuitive Surgical Stock Performance

NASDAQ:ISRG traded up $38.77 during mid-day trading on Friday, hitting $512.50. The company had a trading volume of 1,331,294 shares, compared to its average volume of 1,464,212. Intuitive Surgical has a fifty-two week low of $254.85 and a fifty-two week high of $517.61. The business’s fifty day moving average is $482.69 and its two-hundred day moving average is $436.91. The firm has a market cap of $181.78 billion, a P/E ratio of 92.56, a P/E/G ratio of 5.40 and a beta of 1.39.

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

Insider Activity at Intuitive Surgical

In related news, EVP Myriam Curet sold 2,818 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $458.13, for a total transaction of $1,291,010.34. Following the completion of the transaction, the executive vice president now directly owns 298 shares of the company’s stock, valued at approximately $136,522.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Myriam Curet sold 2,818 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $458.13, for a total transaction of $1,291,010.34. Following the completion of the transaction, the executive vice president now directly owns 298 shares of the company’s stock, valued at approximately $136,522.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Robert Desantis sold 1,413 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $438.60, for a total value of $619,741.80. Following the transaction, the executive vice president now directly owns 5,506 shares of the company’s stock, valued at $2,414,931.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,120 shares of company stock valued at $25,528,753. Insiders own 0.90% of the company’s stock.

Institutional Trading of Intuitive Surgical

Hedge funds have recently made changes to their positions in the business. Mirador Capital Partners LP lifted its position in shares of Intuitive Surgical by 1.4% in the third quarter. Mirador Capital Partners LP now owns 3,526 shares of the medical equipment provider’s stock valued at $1,732,000 after buying an additional 50 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of Intuitive Surgical by 18.1% in the first quarter. Advisors Asset Management Inc. now owns 7,380 shares of the medical equipment provider’s stock valued at $2,945,000 after buying an additional 1,129 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Intuitive Surgical by 617.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 89,069 shares of the medical equipment provider’s stock valued at $39,622,000 after buying an additional 76,649 shares during the last quarter. Brookstone Capital Management lifted its position in shares of Intuitive Surgical by 22.4% in the second quarter. Brookstone Capital Management now owns 12,530 shares of the medical equipment provider’s stock valued at $5,340,000 after buying an additional 2,289 shares during the last quarter. Finally, M&G Plc lifted its position in shares of Intuitive Surgical by 53.5% in the second quarter. M&G Plc now owns 5,069 shares of the medical equipment provider’s stock valued at $2,256,000 after buying an additional 1,766 shares during the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

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.