Intuitive Surgical, Inc. (NASDAQ:ISRG) Sees Significant Increase in Short Interest

Intuitive Surgical, Inc. (NASDAQ:ISRG) was the target of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 4,150,000 shares, a growth of 7.8% from the October 31st total of 3,850,000 shares. Based on an average trading volume of 1,260,000 shares, the days-to-cover ratio is presently 3.3 days.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ISRG shares. Truist Financial lifted their price objective on Intuitive Surgical from $520.00 to $570.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Robert W. Baird boosted their price target on shares of Intuitive Surgical from $503.00 to $565.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Oppenheimer reaffirmed a “market perform” rating on shares of Intuitive Surgical in a report on Friday, October 18th. Morgan Stanley raised shares of Intuitive Surgical from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $522.00 to $650.00 in a research note on Monday. Finally, Leerink Partners lifted their price objective on Intuitive Surgical from $489.00 to $502.00 in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $536.61.

Insider Activity

In other news, EVP Robert Desantis sold 238 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $477.50, for a total transaction of $113,645.00. Following the transaction, the executive vice president now owns 5,506 shares in the company, valued at approximately $2,629,115. This trade represents a 4.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Brosius sold 2,115 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $491.91, for a total value of $1,040,389.65. Following the sale, the insider now owns 295 shares of the company’s stock, valued at approximately $145,113.45. This trade represents a 87.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,023 shares of company stock worth $26,384,247 over the last 90 days. 0.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intuitive Surgical

Large investors have recently made changes to their positions in the company. Mather Group LLC. lifted its stake in shares of 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 purchasing an additional 787 shares during the period. Kingswood Wealth Advisors LLC boosted its holdings in Intuitive Surgical by 52.8% during the second 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 last quarter. CVA Family Office LLC grew its position in shares of Intuitive Surgical by 7.2% during the 2nd quarter. CVA Family Office LLC now owns 548 shares of the medical equipment provider’s stock worth $244,000 after buying an additional 37 shares during the period. CWM LLC increased its stake in shares of Intuitive Surgical by 12.3% in the 2nd quarter. CWM LLC now owns 40,990 shares of the medical equipment provider’s stock valued at $18,234,000 after acquiring an additional 4,488 shares during the last quarter. Finally, RDA Financial Network raised its position in shares of Intuitive Surgical by 2.3% in the 2nd quarter. RDA Financial Network now owns 8,167 shares of the medical equipment provider’s stock valued at $3,633,000 after acquiring an additional 183 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

Intuitive Surgical Trading Up 0.2 %

ISRG opened at $542.85 on Tuesday. Intuitive Surgical has a 1-year low of $304.50 and a 1-year high of $552.00. The stock has a market capitalization of $193.35 billion, a PE ratio of 87.27, a PEG ratio of 5.33 and a beta of 1.39. The firm has a 50-day moving average price of $510.03 and a two-hundred day moving average price of $469.49.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.32. Intuitive Surgical had a net margin of 28.51% and a return on equity of 13.41%. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.01 billion. On average, research analysts predict that Intuitive Surgical will post 5.45 EPS 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.