Intuitive Surgical (NASDAQ:ISRG) Stock Price Expected to Rise, HSBC Analyst Says

Key Points

• HSBC has raised its price target for Intuitive Surgical stock from $595.00 to $644.00, indicating a potential 21.56% upside from the previous close and maintaining a "buy" rating.
• Other analysts also have positive outlooks, with BTIG increasing its target to $589.00 and a consensus rating of "Moderate Buy" with an average price target of $604.50.
• Intuitive Surgical recently reported strong earnings, with a $2.40 EPS that exceeded estimates, contributing to a year-over-year revenue increase of 22.9%.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) had its price objective boosted by equities researchers at HSBC from $595.00 to $644.00 in a report released on Thursday,MarketScreener reports. The firm currently has a "buy" rating on the medical equipment provider's stock. HSBC's price objective would suggest a potential upside of 21.56% from the company's previous close.

Other equities analysts have also issued reports about the company. BTIG Research increased their price objective on Intuitive Surgical from $529.00 to $589.00 and gave the company a "buy" rating in a research report on Wednesday. Erste Group Bank reiterated a "hold" rating on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Mizuho set a $575.00 price objective on shares of Intuitive Surgical in a research note on Wednesday. Wall Street Zen cut shares of Intuitive Surgical from a "buy" rating to a "hold" rating in a research report on Saturday, October 18th. Finally, Piper Sandler upped their price target on shares of Intuitive Surgical from $595.00 to $610.00 and gave the company an "overweight" rating in a research report on Wednesday. Eighteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Intuitive Surgical presently has a consensus rating of "Moderate Buy" and a consensus price target of $604.50.

Intuitive Surgical Trading Up 0.5%

Intuitive Surgical stock opened at $529.77 on Thursday. The firm's 50 day simple moving average is $455.28 and its 200 day simple moving average is $495.80. Intuitive Surgical has a 1-year low of $425.00 and a 1-year high of $616.00. The firm has a market capitalization of $189.91 billion, a PE ratio of 70.12, a price-to-earnings-growth ratio of 4.86 and a beta of 1.61.

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

Insider Transactions at Intuitive Surgical

In related news, Director Amy L. Ladd sold 335 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $440.69, for a total transaction of $147,631.15. Following the completion of the transaction, the director owned 739 shares in the company, valued at $325,669.91. This represents a 31.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Myriam Curet sold 4,500 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $492.48, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,224 shares of company stock worth $21,716,492. 0.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Brighton Jones LLC grew its stake in Intuitive Surgical by 24.9% in the fourth quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock worth $1,916,000 after purchasing an additional 731 shares during the period. GAMMA Investing LLC grew its position in shares of Intuitive Surgical by 9.3% in the 1st quarter. GAMMA Investing LLC now owns 6,115 shares of the medical equipment provider's stock worth $3,029,000 after buying an additional 518 shares during the period. Consolidated Portfolio Review Corp bought a new position in shares of Intuitive Surgical in the 1st quarter worth about $208,000. Golden State Equity Partners lifted its position in Intuitive Surgical by 14.6% during the 1st quarter. Golden State Equity Partners now owns 1,209 shares of the medical equipment provider's stock valued at $599,000 after acquiring an additional 154 shares during the period. Finally, Alpine Bank Wealth Management bought a new stake in Intuitive Surgical during the first quarter worth about $65,000. Hedge funds and other institutional investors own 83.64% of the company's stock.

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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