Intuitive Surgical, Inc. (NASDAQ:ISRG) Short Interest Up 43.7% in September

Key Points

• Short interest in Intuitive Surgical, Inc. rose by 43.7% in September, reaching a total of 8,220,000 shares as of the end of the month.
• The company reported earnings of $2.40 per share for the quarter, surpassing analysts' expectations by $0.41, with quarterly revenue increasing by 22.9% year-over-year.
• Analysts have set a consensus price target of $604.50 for Intuitive Surgical, with a mix of ratings including 18 Buy, 8 Hold, and 1 Sell.

Intuitive Surgical, Inc. (NASDAQ:ISRG - Get Free Report) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 8,220,000 shares, a growth of 43.7% from the September 15th total of 5,720,000 shares. Based on an average trading volume of 2,250,000 shares, the short-interest ratio is currently 3.7 days. Based on an average trading volume of 2,250,000 shares, the short-interest ratio is currently 3.7 days.

Intuitive Surgical Stock Performance

Shares of Intuitive Surgical stock traded up $13.96 on Thursday, hitting $540.99. The company's stock had a trading volume of 1,131,255 shares, compared to its average volume of 2,110,173. The company has a market capitalization of $193.93 billion, a price-to-earnings ratio of 71.50, a price-to-earnings-growth ratio of 4.86 and a beta of 1.61. Intuitive Surgical has a 1 year low of $425.00 and a 1 year high of $616.00. The firm has a fifty day moving average price of $455.28 and a 200-day moving average price of $495.80.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly earnings data on Tuesday, October 21st. The medical equipment provider reported $2.40 EPS for the quarter, beating the consensus estimate of $1.99 by $0.41. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.41 billion. Intuitive Surgical had a return on equity of 15.03% and a net margin of 28.58%.Intuitive Surgical's quarterly revenue was up 22.9% compared to the same quarter last year. During the same period last year, the company earned $1.84 earnings per share. As a group, analysts forecast that Intuitive Surgical will post 6.43 EPS for the current year.

Insider Buying and Selling

In related news, insider Gary S. Guthart sold 29,360 shares of the company's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $472.49, for a total value of $13,872,306.40. Following the transaction, the insider directly owned 19,827 shares of the company's stock, valued at $9,368,059.23. This represents a 59.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Myriam Curet sold 4,500 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $492.48, for a total value of $2,216,160.00. Following the completion of the transaction, the executive vice president owned 353 shares of the company's stock, valued at $173,845.44. This trade represents a 92.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,224 shares of company stock worth $21,716,492 in the last three months. Corporate insiders own 0.70% of the company's stock.

Institutional Investors Weigh In On Intuitive Surgical

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norway Savings Bank increased its stake in shares of Intuitive Surgical by 53.4% during the second quarter. Norway Savings Bank now owns 2,613 shares of the medical equipment provider's stock worth $1,420,000 after purchasing an additional 910 shares in the last quarter. IronOak Wealth LLC. acquired a new stake in Intuitive Surgical in the 2nd quarter valued at about $1,099,000. Trust Co. of Oklahoma purchased a new position in Intuitive Surgical in the 2nd quarter worth approximately $363,000. Neville Rodie & Shaw Inc. grew its position in shares of Intuitive Surgical by 11.9% in the second quarter. Neville Rodie & Shaw Inc. now owns 10,427 shares of the medical equipment provider's stock valued at $5,666,000 after purchasing an additional 1,110 shares in the last quarter. Finally, Sax Wealth Advisors LLC lifted its stake in Intuitive Surgical by 218.1% during the 2nd quarter. Sax Wealth Advisors LLC now owns 2,456 shares of the medical equipment provider's stock worth $1,334,000 after acquiring an additional 1,684 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ISRG. Zacks Research lowered Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. Royal Bank Of Canada set a $625.00 price target on shares of Intuitive Surgical and gave the stock an "outperform" rating in a research report on Wednesday. The Goldman Sachs Group dropped their price objective on shares of Intuitive Surgical from $621.00 to $567.00 and set a "buy" rating on the stock in a report on Wednesday, October 1st. UBS Group set a $600.00 price objective on Intuitive Surgical and gave the company a "neutral" rating in a research note on Thursday. Finally, Leerink Partners upped their target price on Intuitive Surgical from $593.00 to $600.00 and gave the stock an "outperform" rating in a research note on Wednesday. Eighteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Intuitive Surgical has an average rating of "Moderate Buy" and a consensus price target of $604.50.

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.

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