Intuitive Surgical (NASDAQ:ISRG) Shares Up 2.8% - Still a Buy?

Key Points

• Intuitive Surgical's shares increased by 2.8% to $458.47, with trading volume surpassing the average by 53%.
• Analysts have mixed ratings for Intuitive Surgical: while 14 maintain a Buy rating, target prices have been adjusted downward by firms like BTIG and Robert W. Baird.
• The company reported a 21.4% increase in year-over-year revenue, achieving $2.44 billion, and earnings per share of $2.19, surpassing estimates.

Intuitive Surgical, Inc. (NASDAQ:ISRG - Get Free Report)'s share price shot up 2.8% on Monday . The company traded as high as $461.83 and last traded at $458.47. 3,167,228 shares changed hands during mid-day trading, an increase of 53% from the average session volume of 2,070,540 shares. The stock had previously closed at $446.13.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. BTIG Research decreased their target price on Intuitive Surgical from $571.00 to $529.00 and set a "buy" rating on the stock in a research report on Monday, October 13th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Intuitive Surgical in a research report on Wednesday, October 8th. Erste Group Bank reiterated a "hold" rating on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Wall Street Zen downgraded Intuitive Surgical from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Robert W. Baird decreased their target price on Intuitive Surgical from $600.00 to $536.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 15th. Fourteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $580.29.

Intuitive Surgical Price Performance

The company has a 50-day moving average price of $454.97 and a 200-day moving average price of $495.76. The firm has a market capitalization of $164.35 billion, a PE ratio of 63.94, a P/E/G ratio of 4.69 and a beta of 1.61.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.26. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The business's revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.78 earnings per share. On average, research analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Insider Activity at Intuitive Surgical

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 completion of the transaction, the insider directly owned 19,827 shares in the company, valued at approximately $9,368,059.23. This represents a 59.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Amy L. Ladd sold 336 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $470.11, for a total value of $157,956.96. Following the completion of the transaction, the director owned 1,074 shares of the company's stock, valued at $504,898.14. The trade was a 23.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,224 shares of company stock worth $21,716,492. 0.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intuitive Surgical

Several institutional investors and hedge funds have recently added to or reduced their stakes in ISRG. Norges Bank acquired a new stake in Intuitive Surgical during the second quarter worth about $2,569,260,000. Nuveen LLC acquired a new stake in Intuitive Surgical during the first quarter worth about $1,715,899,000. Vanguard Group Inc. increased its stake in Intuitive Surgical by 2.1% during the second quarter. Vanguard Group Inc. now owns 33,335,833 shares of the medical equipment provider's stock worth $18,115,025,000 after acquiring an additional 670,302 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Intuitive Surgical by 26.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,819,666 shares of the medical equipment provider's stock worth $1,396,496,000 after acquiring an additional 584,375 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Intuitive Surgical by 20.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,393,951 shares of the medical equipment provider's stock worth $1,680,922,000 after acquiring an additional 566,979 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

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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