Intuitive Surgical (NASDAQ:ISRG) Trading 0.4% Higher on Analyst Upgrade

Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) rose 0.4% during mid-day trading on Wednesday after BTIG Research raised their price target on the stock from $469.00 to $494.00. BTIG Research currently has a buy rating on the stock. Intuitive Surgical traded as high as $484.99 and last traded at $484.44. Approximately 172,788 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 1,522,680 shares. The stock had previously closed at $482.35.

Several other equities analysts also recently commented on the company. Barclays upped their price objective on Intuitive Surgical from $430.00 to $490.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Truist Financial boosted their price objective on shares of Intuitive Surgical from $450.00 to $515.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Redburn Atlantic upgraded Intuitive Surgical from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $380.00 to $510.00 in a research report on Friday, August 2nd. Citigroup increased their price target on shares of Intuitive Surgical from $512.00 to $560.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, The Goldman Sachs Group assumed coverage on Intuitive Surgical in a report on Thursday, May 30th. They set a “buy” rating and a $500.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $446.45.

Insider Activity

In other Intuitive Surgical news, EVP Robert Desantis sold 239 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $416.60, for a total value of $99,567.40. Following the completion of the sale, the executive vice president now directly owns 5,506 shares in the company, valued at approximately $2,293,799.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Robert Desantis sold 239 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $416.60, for a total value of $99,567.40. Following the completion of the transaction, the executive vice president now owns 5,506 shares of the company’s stock, valued at $2,293,799.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Craig H. Barratt sold 1,400 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $411.00, for a total value of $575,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,552 shares of company stock valued at $26,281,657. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of Intuitive Surgical

Hedge funds have recently modified their holdings of the company. Creekmur Asset Management LLC grew its holdings in Intuitive Surgical by 200.0% in the first quarter. Creekmur Asset Management LLC now owns 63 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 42 shares during the last quarter. Ridgewood Investments LLC purchased a new position in Intuitive Surgical during the 2nd quarter worth $26,000. Able Wealth Management LLC acquired a new position in Intuitive Surgical during the 4th quarter valued at about $28,000. Delos Wealth Advisors LLC raised its stake in Intuitive Surgical by 380.0% in the first quarter. Delos Wealth Advisors LLC now owns 72 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 57 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC acquired a new stake in Intuitive Surgical in the fourth quarter worth about $30,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Stock Up 1.0 %

The firm has a market cap of $172.80 billion, a PE ratio of 87.94, a price-to-earnings-growth ratio of 4.97 and a beta of 1.39. The stock has a 50 day moving average price of $452.39 and a two-hundred day moving average price of $413.17.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Thursday, July 18th. The medical equipment provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.24. Intuitive Surgical had a net margin of 27.65% and a return on equity of 13.04%. The business 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 business posted $1.18 EPS. Intuitive Surgical’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, equities analysts anticipate that Intuitive Surgical, Inc. will post 5.22 earnings per share for the current year.

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.