Intuitive Surgical (NASDAQ:ISRG) Earns Overweight Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Intuitive Surgical (NASDAQ:ISRG) in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a $670.00 target price on the medical equipment provider’s stock, up from their prior target price of $538.00.

A number of other research firms have also weighed in on ISRG. Wells Fargo & Company raised their price objective on shares of Intuitive Surgical from $630.00 to $687.00 and gave the company an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. lifted their price target on shares of Intuitive Surgical from $575.00 to $675.00 and gave the stock an “overweight” rating in a research note on Friday. Truist Financial lifted their price target on shares of Intuitive Surgical from $570.00 to $640.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Stifel Nicolaus lifted their price target on shares of Intuitive Surgical from $525.00 to $610.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, BTIG Research lifted their price target on shares of Intuitive Surgical from $535.00 to $561.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $583.83.

Intuitive Surgical Stock Performance

NASDAQ:ISRG opened at $584.05 on Friday. The firm has a market cap of $208.03 billion, a P/E ratio of 93.90, a P/E/G ratio of 5.19 and a beta of 1.39. Intuitive Surgical has a fifty-two week low of $364.17 and a fifty-two week high of $616.00. The firm has a 50-day simple moving average of $547.16 and a two-hundred day simple moving average of $504.78.

Insider Transactions at Intuitive Surgical

In related news, EVP Robert Desantis sold 188 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $506.52, for a total value of $95,225.76. Following the sale, the executive vice president now owns 5,506 shares in the company, valued at approximately $2,788,899.12. The trade was a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jamie Samath sold 108 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $542.06, for a total transaction of $58,542.48. Following the transaction, the chief financial officer now owns 8,757 shares in the company, valued at $4,746,819.42. This trade represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,453 shares of company stock valued at $22,059,506. 0.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA bought a new position in shares of Intuitive Surgical in the third quarter worth about $558,807,000. International Assets Investment Management LLC lifted its stake in Intuitive Surgical by 49,383.6% in the third quarter. International Assets Investment Management LLC now owns 1,090,619 shares of the medical equipment provider’s stock worth $535,788,000 after acquiring an additional 1,088,415 shares during the period. FMR LLC lifted its position in shares of Intuitive Surgical by 8.3% during the third quarter. FMR LLC now owns 10,971,085 shares of the medical equipment provider’s stock valued at $5,389,765,000 after buying an additional 838,793 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its position in shares of Intuitive Surgical by 15,322.2% during the third quarter. Wilmington Savings Fund Society FSB now owns 555,661 shares of the medical equipment provider’s stock valued at $272,980,000 after buying an additional 552,058 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Intuitive Surgical by 1.4% during the third quarter. State Street Corp now owns 15,050,121 shares of the medical equipment provider’s stock valued at $7,393,673,000 after buying an additional 210,363 shares during the last quarter. 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.