Intuitive Surgical (NASDAQ:ISRG) Raised to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of Intuitive Surgical (NASDAQ:ISRG) from an equal weight rating to an overweight rating in a research note published on Monday morning, Marketbeat Ratings reports. The firm currently has $650.00 price target on the medical equipment provider’s stock, up from their previous price target of $522.00.

ISRG has been the subject of several other research reports. Citigroup upped their price target on shares of Intuitive Surgical from $512.00 to $560.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Oppenheimer restated a “market perform” rating on shares of Intuitive Surgical in a report on Friday, October 18th. BTIG Research lifted their price target on Intuitive Surgical from $535.00 to $561.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Raymond James upped their price target on Intuitive Surgical from $500.00 to $540.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Truist Financial raised their price objective on Intuitive Surgical from $520.00 to $570.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $536.61.

Intuitive Surgical Stock Up 0.2 %

Shares of Intuitive Surgical stock opened at $542.85 on Monday. Intuitive Surgical has a 12-month low of $304.50 and a 12-month high of $552.00. The firm has a market capitalization of $193.35 billion, a PE ratio of 87.27, a price-to-earnings-growth ratio of 5.33 and a beta of 1.39. The stock’s fifty day moving average is $510.03 and its 200-day moving average is $469.49.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings data on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.32. Intuitive Surgical had a return on equity of 13.41% and a net margin of 28.51%. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.01 billion. Analysts expect that Intuitive Surgical will post 5.45 EPS for the current year.

Insider Activity

In other Intuitive Surgical news, CEO Gary S. Guthart sold 18,151 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $511.63, for a total value of $9,286,596.13. Following the sale, the chief executive officer now owns 24,219 shares in the company, valued at $12,391,166.97. This represents a 42.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jamie Samath sold 108 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $542.06, for a total transaction of $58,542.48. Following the completion of the transaction, the chief financial officer now owns 8,757 shares in the company, valued at approximately $4,746,819.42. This trade represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,023 shares of company stock worth $26,384,247 in the last quarter. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Intuitive Surgical

A number of hedge funds have recently added to or reduced their stakes in ISRG. Mather Group LLC. raised its holdings in Intuitive Surgical by 49.7% in the 2nd quarter. Mather Group LLC. now owns 2,371 shares of the medical equipment provider’s stock valued at $1,055,000 after buying an additional 787 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in Intuitive Surgical by 52.8% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 3,840 shares of the medical equipment provider’s stock worth $1,708,000 after buying an additional 1,327 shares during the period. CVA Family Office LLC grew its position in shares of Intuitive Surgical by 7.2% in the 2nd quarter. CVA Family Office LLC now owns 548 shares of the medical equipment provider’s stock valued at $244,000 after buying an additional 37 shares during the last quarter. CWM LLC raised its position in shares of Intuitive Surgical by 12.3% during the second quarter. CWM LLC now owns 40,990 shares of the medical equipment provider’s stock worth $18,234,000 after acquiring an additional 4,488 shares during the last quarter. Finally, RDA Financial Network lifted its stake in shares of Intuitive Surgical by 2.3% in the second quarter. RDA Financial Network now owns 8,167 shares of the medical equipment provider’s stock worth $3,633,000 after acquiring an additional 183 shares during the period. Institutional investors own 83.64% of the company’s stock.

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.