Intuitive Surgical (NASDAQ:ISRG) Stock Price Up 2.2% – Time to Buy?

Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) rose 2.2% during trading on Friday . The company traded as high as $562.65 and last traded at $560.00. Approximately 2,708,753 shares traded hands during mid-day trading, an increase of 28% from the average daily volume of 2,124,505 shares. The stock had previously closed at $547.78.

Analyst Ratings Changes

Several analysts recently weighed in on the company. HSBC lifted their price objective on Intuitive Surgical from $595.00 to $644.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Hsbc Global Res upgraded shares of Intuitive Surgical to a “strong-buy” rating in a report on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Intuitive Surgical in a research report on Friday, August 22nd. Piper Sandler lifted their price objective on shares of Intuitive Surgical from $595.00 to $610.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Finally, UBS Group set a $600.00 price objective on shares of Intuitive Surgical and gave the stock a “neutral” rating in a research note on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Intuitive Surgical presently has an average rating of “Moderate Buy” and an average target price of $608.92.

Intuitive Surgical Price Performance

The stock’s fifty day simple moving average is $470.16 and its 200-day simple moving average is $500.23. The firm has a market cap of $200.75 billion, a PE ratio of 74.07, a PEG ratio of 4.94 and a beta of 1.62.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.41. Intuitive Surgical had a return on equity of 15.08% and a net margin of 28.58%.The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the prior year, the firm earned $1.84 earnings per share. Intuitive Surgical’s revenue for the quarter was up 22.9% on a year-over-year basis. Analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Gary S. Guthart sold 2,800 shares of the company’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $546.27, for a total transaction of $1,529,556.00. Following the completion of the sale, the insider owned 17,120 shares of the company’s stock, valued at $9,352,142.40. This represents a 14.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Craig H. Barratt sold 2,193 shares of the stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $548.01, for a total transaction of $1,201,785.93. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 98,078 shares of company stock valued at $51,445,892. 0.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuitive Surgical

A number of institutional investors have recently bought and sold shares of the company. Tobam lifted its position in Intuitive Surgical by 666.7% in the second quarter. Tobam now owns 46 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 40 shares during the last quarter. Kilter Group LLC acquired a new stake in shares of Intuitive Surgical during the second quarter worth about $27,000. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Intuitive Surgical in the 3rd quarter valued at about $27,000. TD Capital Management LLC lifted its holdings in shares of Intuitive Surgical by 300.0% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 45 shares during the last quarter. Finally, 1248 Management LLC purchased a new stake in shares of Intuitive Surgical in the 1st quarter valued at about $30,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

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.