Intuitive Surgical (NASDAQ:ISRG) Reaches New 1-Year High Following Analyst Upgrade

Intuitive Surgical, Inc. (NASDAQ:ISRG)’s stock price hit a new 52-week high during mid-day trading on Friday after Evercore ISI raised their price target on the stock from $475.00 to $490.00. Evercore ISI currently has an in-line rating on the stock. Intuitive Surgical traded as high as $516.36 and last traded at $514.48, with a volume of 775960 shares changing hands. The stock had previously closed at $473.73.

Other equities analysts also recently issued reports about the stock. BTIG Research lifted their price objective on shares of Intuitive Surgical from $494.00 to $518.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Stifel Nicolaus boosted their price target on shares of Intuitive Surgical from $475.00 to $525.00 and gave the stock a “buy” rating in a report on Friday. Piper Sandler reaffirmed an “overweight” rating and issued a $538.00 price objective (up from $495.00) on shares of Intuitive Surgical in a research report on Friday. Morgan Stanley lifted their target price on shares of Intuitive Surgical from $375.00 to $460.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Finally, Barclays boosted their target price on Intuitive Surgical from $430.00 to $490.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Intuitive Surgical has an average rating of “Moderate Buy” and an average target price of $503.75.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, EVP Robert Desantis sold 188 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $482.21, for a total transaction of $90,655.48. Following the completion of the transaction, the executive vice president now owns 5,506 shares in the company, valued at $2,655,048.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Intuitive Surgical news, EVP Robert Desantis sold 188 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $482.21, for a total transaction of $90,655.48. Following the sale, the executive vice president now owns 5,506 shares of the company’s stock, valued at $2,655,048.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Amy L. Ladd sold 450 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $490.28, for a total value of $220,626.00. Following the completion of the transaction, the director now directly owns 821 shares of the company’s stock, valued at $402,519.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,120 shares of company stock worth $25,528,753. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Capital Research Global Investors purchased a new position in Intuitive Surgical during the first quarter valued at approximately $374,390,000. Vanguard Group Inc. grew its position in shares of Intuitive Surgical by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 30,868,620 shares of the medical equipment provider’s stock valued at $12,319,358,000 after purchasing an additional 493,126 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Intuitive Surgical by 51.2% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 893,341 shares of the medical equipment provider’s stock worth $356,524,000 after purchasing an additional 302,382 shares during the period. Strategic Financial Concepts LLC increased its holdings in shares of Intuitive Surgical by 40,221.4% in the second quarter. Strategic Financial Concepts LLC now owns 266,121 shares of the medical equipment provider’s stock worth $1,184,000 after purchasing an additional 265,461 shares during the period. Finally, GQG Partners LLC purchased a new stake in shares of Intuitive Surgical in the first quarter worth $99,523,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Price Performance

The company has a 50 day moving average of $483.85 and a 200-day moving average of $437.79. The company has a market cap of $184.85 billion, a P/E ratio of 94.07, a price-to-earnings-growth ratio of 5.40 and a beta of 1.39.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings data on Thursday, July 18th. The medical equipment provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.24. Intuitive Surgical had a net margin of 27.65% and a return on equity of 13.04%. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the prior year, the business earned $1.18 earnings per share. Intuitive Surgical’s revenue for the quarter was up 14.5% compared to the same quarter last year. Research analysts anticipate that Intuitive Surgical, Inc. will post 5.22 EPS for the current year.

Intuitive Surgical Company Profile

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.