Intuitive Surgical (NASDAQ:ISRG) Upgraded by Citigroup to “Buy” Rating

Intuitive Surgical (NASDAQ:ISRG) was upgraded by Citigroup from a “neutral” rating to a “buy” rating in a research report issued on Wednesday,Finviz reports. The firm currently has a $590.00 price objective on the medical equipment provider’s stock. Citigroup’s price objective would suggest a potential upside of 21.44% from the stock’s previous close.

A number of other equities analysts have also recently commented on ISRG. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Intuitive Surgical in a research report on Monday, December 29th. Wells Fargo & Company increased their price objective on shares of Intuitive Surgical from $600.00 to $654.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Robert W. Baird cut their target price on shares of Intuitive Surgical from $655.00 to $645.00 and set an “outperform” rating for the company in a research note on Friday, January 23rd. Raymond James Financial lifted their target price on shares of Intuitive Surgical from $603.00 to $615.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $620.00 price target (up from $610.00) on shares of Intuitive Surgical in a research note on Friday, January 23rd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Intuitive Surgical presently has an average rating of “Moderate Buy” and a consensus price target of $615.86.

Intuitive Surgical Stock Down 1.6%

NASDAQ:ISRG opened at $485.85 on Wednesday. Intuitive Surgical has a 12-month low of $425.00 and a 12-month high of $603.88. The firm has a market capitalization of $172.54 billion, a price-to-earnings ratio of 61.58, a P/E/G ratio of 3.81 and a beta of 1.66. The stock’s 50 day moving average price is $518.26 and its two-hundred day moving average price is $512.74.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 EPS for the quarter, topping the consensus estimate of $2.27 by $0.26. The company had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.72 billion. Intuitive Surgical had a return on equity of 15.06% and a net margin of 28.38%.The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.21 EPS. Equities research analysts expect that Intuitive Surgical will post 6.43 EPS for the current year.

Insider Activity at Intuitive Surgical

In related news, SVP Mark Brosius sold 645 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $485.01, for a total transaction of $312,831.45. Following the transaction, the senior vice president directly owned 1,613 shares of the company’s stock, valued at approximately $782,321.13. This trade represents a 28.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary S. Guthart sold 2,800 shares of Intuitive Surgical stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $531.52, for a total transaction of $1,488,256.00. Following the completion of the sale, the director owned 15,720 shares of the company’s stock, valued at $8,355,494.40. This trade represents a 15.12% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 37,802 shares of company stock valued at $19,945,322. 0.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intuitive Surgical

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. PeakShares LLC acquired a new stake in Intuitive Surgical during the fourth quarter worth approximately $1,040,000. Corient Private Wealth LLC raised its holdings in Intuitive Surgical by 17.7% in the 4th quarter. Corient Private Wealth LLC now owns 378,838 shares of the medical equipment provider’s stock valued at $214,891,000 after acquiring an additional 57,055 shares in the last quarter. Union Savings Bank acquired a new position in Intuitive Surgical in the 4th quarter valued at $67,000. Storen Legacy Partners LLC bought a new stake in shares of Intuitive Surgical during the 4th quarter valued at $217,000. Finally, Worthington Financial Partners LLC acquired a new stake in shares of Intuitive Surgical during the 4th quarter worth $366,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

About Intuitive Surgical

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.