Intuitive Surgical (NASDAQ:ISRG) Stock Rating Upgraded by Hsbc Global Res

Key Points

• Intuitive Surgical's stock rating was upgraded to a "strong-buy" by Hsbc Global Res, indicating increased analyst confidence in the company's performance.
• The company's recent quarterly earnings exceeded expectations, with $2.51 billion in revenue and an earnings per share of $2.40, marking a year-over-year revenue increase of 22.9%.
• Institutional investors continue to show strong interest, with 83.64% of the company's stock now owned by hedge funds and other investors, reflecting ongoing confidence in Intuitive Surgical's growth potential.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) was upgraded by equities research analysts at Hsbc Global Res to a "strong-buy" rating in a report issued on Thursday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Daiwa Capital Markets upped their target price on shares of Intuitive Surgical from $510.00 to $550.00 and gave the stock an "outperform" rating in a research report on Friday. Leerink Partners upped their target price on shares of Intuitive Surgical from $593.00 to $600.00 and gave the stock an "outperform" rating in a research report on Wednesday. Erste Group Bank restated a "hold" rating on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Sanford C. Bernstein restated an "outperform" rating and set a $685.00 target price on shares of Intuitive Surgical in a research report on Tuesday. Finally, Evercore ISI dropped their target price on shares of Intuitive Surgical from $535.00 to $450.00 and set an "in-line" rating for the company in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $602.32.

Intuitive Surgical Price Performance

ISRG opened at $546.51 on Thursday. The firm has a market cap of $195.91 billion, a P/E ratio of 72.29, a PEG ratio of 5.50 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 company has a 50 day simple moving average of $458.09 and a two-hundred day simple moving average of $497.02.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.99 by $0.41. The business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.41 billion. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. The company's revenue was up 22.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.84 earnings per share. Equities analysts anticipate that Intuitive Surgical will post 6.43 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Gary S. Guthart sold 29,360 shares of the company's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the sale, the insider owned 19,827 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through this link. Also, Director Amy L. Ladd sold 335 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $440.69, for a total transaction of $147,631.15. Following the completion of the sale, the director directly owned 739 shares in the company, valued at approximately $325,669.91. This represents a 31.19% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,724 shares of company stock worth $19,500,332. 0.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Intuitive Surgical

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Intuitive Surgical by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 33,335,833 shares of the medical equipment provider's stock worth $18,115,025,000 after buying an additional 670,302 shares during the period. State Street Corp increased its stake in Intuitive Surgical by 1.2% in the 2nd quarter. State Street Corp now owns 15,552,203 shares of the medical equipment provider's stock worth $8,451,223,000 after buying an additional 182,871 shares during the period. Geode Capital Management LLC increased its stake in Intuitive Surgical by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 8,188,685 shares of the medical equipment provider's stock worth $4,429,590,000 after buying an additional 109,904 shares during the period. Norges Bank purchased a new position in Intuitive Surgical in the 2nd quarter worth about $2,569,260,000. Finally, Invesco Ltd. increased its stake in Intuitive Surgical by 4.8% in the 2nd quarter. Invesco Ltd. now owns 4,421,133 shares of the medical equipment provider's stock worth $2,402,488,000 after buying an additional 201,159 shares during the period. Hedge funds and other 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.

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