BTIG Research Reaffirms Buy Rating for Intuitive Surgical (NASDAQ:ISRG)

Intuitive Surgical (NASDAQ:ISRG)‘s stock had its “buy” rating reaffirmed by analysts at BTIG Research in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $454.00 price target on the medical equipment provider’s stock. BTIG Research‘s price objective would indicate a potential upside of 6.05% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. Piper Sandler restated an “overweight” rating on shares of Intuitive Surgical in a report on Friday, August 21st. Leerink Partners decreased their price objective on Intuitive Surgical from $573.00 to $454.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. Wall Street Zen downgraded Intuitive Surgical from a “buy” rating to a “hold” rating in a research report on Sunday, September 20th. Evercore set a $430.00 price objective on Intuitive Surgical in a research report on Monday, July 6th. Finally, Erste Group Bank upgraded shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Wednesday. Twenty-five analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Intuitive Surgical has an average rating of “Moderate Buy” and an average price target of $500.13.

Intuitive Surgical Stock Performance

Shares of Intuitive Surgical stock traded down $9.88 during trading hours on Wednesday, reaching $428.12. 4,798,374 shares of the company were exchanged, compared to its average volume of 2,426,954. Intuitive Surgical has a 1 year low of $328.57 and a 1 year high of $603.88. The stock’s fifty day moving average is $393.50 and its 200 day moving average is $408.89. The firm has a market cap of $151.25 billion, a PE ratio of 49.04, a PEG ratio of 3.27 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Tuesday, October 20th. The medical equipment provider reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.35. The business had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.91 billion. Intuitive Surgical had a return on equity of 16.91% and a net margin of 28.45%. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same period last year, the firm earned $2.40 earnings per share. Research analysts expect that Intuitive Surgical will post 8.87 earnings per share for the current year.

Insider Transactions at Intuitive Surgical

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $379.00, for a total value of $151,600.00. Following the sale, the executive vice president directly owned 5,320 shares in the company, valued at $2,016,280. This trade represents a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy Ladd sold 400 shares of Intuitive Surgical stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $379.00, for a total value of $151,600.00. Following the sale, the director directly owned 251 shares of the company’s stock, valued at $95,129. This trade represents a 61.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 12,370 shares of company stock valued at $4,891,989 over the last ninety days. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Intuitive Surgical

Several hedge funds and other institutional investors have recently made changes to their positions in ISRG. Main Street Group LTD purchased a new position in shares of Intuitive Surgical in the 1st quarter valued at $30,000. North Point Portfolio Managers Corp OH acquired a new position in Intuitive Surgical in the 3rd quarter valued at about $27,000. Vermillion Wealth Management Inc. increased its position in Intuitive Surgical by 58.1% in the 1st quarter. Vermillion Wealth Management Inc. now owns 68 shares of the medical equipment provider’s stock valued at $31,000 after acquiring an additional 25 shares during the period. Evergreen Advisors LLC acquired a new position in Intuitive Surgical in the 1st quarter valued at about $35,000. Finally, Compass Financial Management LLC purchased a new stake in Intuitive Surgical during the 2nd quarter valued at approximately $30,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

Intuitive Surgical News Summary

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: Q3 revenue increased 21.7% year over year to $3.05 billion, surpassing the $2.91 billion consensus estimate, while adjusted earnings of $3.00 per share exceeded expectations of approximately $2.65. Intuitive Surgical Q3 Earnings and Revenues Top Estimates
• Positive Sentiment: Underlying demand remained healthy: worldwide procedures grew approximately 15%, including about 14% growth in da Vinci procedures and 31% growth in Ion procedures. System placements also rose to 546 from 427 a year earlier. Intuitive Announces Third Quarter Earnings
• Positive Sentiment: Several analysts maintained bullish views or raised targets following the report, including JPMorgan, which lifted its target to $475 and kept an Overweight rating, while Bank of America reiterated Buy with a $470 target. Intuitive Surgical Buy Rating Reaffirmed

Intuitive Surgical Company Profile

Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company’s primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.

The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.