Intuitive Surgical (NASDAQ:ISRG) Shares Up 4.6% Following Analyst Upgrade

Key Points

• Intuitive Surgical's shares surged 4.6% after Jefferies Financial Group upgraded the stock and raised its price target from $550 to $560, maintaining a hold rating.
• The company reported quarterly earnings of $2.40 per share, surpassing analysts' expectations of $1.99 and posting a revenue of $2.51 billion, a 22.9% increase year-over-year.
• Intuitive Surgical has received favorable ratings from multiple analysts, with an average target price of $604.50 and a current average rating of "Moderate Buy."

Intuitive Surgical, Inc. (NASDAQ:ISRG - Get Free Report) shares rose 4.6% during trading on Thursday after Jefferies Financial Group raised their price target on the stock from $550.00 to $560.00. Jefferies Financial Group currently has a hold rating on the stock. Intuitive Surgical traded as high as $552.50 and last traded at $551.30. Approximately 3,969,044 shares were traded during trading, an increase of 87% from the average daily volume of 2,122,461 shares. The stock had previously closed at $527.03.

ISRG has been the topic of several other research reports. Rothschild & Co Redburn boosted their price target on Intuitive Surgical from $610.00 to $615.00 and gave the company a "buy" rating in a research report on Thursday. Sanford C. Bernstein reiterated an "outperform" rating and set a $685.00 target price on shares of Intuitive Surgical in a research report on Tuesday. Truist Financial set a $620.00 price target on Intuitive Surgical and gave the stock a "buy" rating in a research note on Wednesday. Erste Group Bank reissued a "hold" rating on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Finally, Raymond James Financial set a $603.00 price target on Intuitive Surgical and gave the stock an "outperform" rating in a research note on Wednesday. Eighteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $604.50.

Insider Transactions at Intuitive Surgical

In related news, EVP Myriam Curet sold 4,500 shares of the 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 sale, the executive vice president directly owned 353 shares in the company, valued at approximately $173,845.44. This represents a 92.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary S. Guthart sold 29,360 shares of the stock in a transaction on Friday, August 29th. The shares were sold at an average price of $472.49, for a total value of $13,872,306.40. Following the completion of the sale, the insider owned 19,827 shares of the company's stock, valued at approximately $9,368,059.23. This represents a 59.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,224 shares of company stock worth $21,716,492 in the last ninety days. Insiders own 0.70% of the company's stock.

Institutional Trading of Intuitive Surgical

Several large investors have recently added to or reduced their stakes in ISRG. Chilton Capital Management LLC increased its holdings in Intuitive Surgical by 614.3% in the 1st quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 43 shares in the last quarter. Tobam boosted its position in Intuitive Surgical by 666.7% in the 2nd quarter. Tobam now owns 46 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 40 shares during the last quarter. Elite Financial Inc. purchased a new position in Intuitive Surgical in the 1st quarter valued at about $26,000. Kilter Group LLC purchased a new position in Intuitive Surgical in the 2nd quarter valued at about $27,000. Finally, LFA Lugano Financial Advisors SA purchased a new position in Intuitive Surgical in the 1st quarter valued at about $30,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Surgical Trading Up 4.6%

The business's 50-day simple moving average is $455.28 and its two-hundred day simple moving average is $495.80. The company has a market capitalization of $197.63 billion, a PE ratio of 72.92, a PEG ratio of 4.86 and a beta of 1.61.

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

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