Intuitive Surgical (NASDAQ:ISRG) Trading 2.6% Higher - Here's What Happened

Key Points

• Intuitive Surgical's stock increased by 2.6%, closing at $446.13 after a trading day that saw over 2 million shares exchanged, surpassing the average daily volume.
• Analysts have set varying price targets for the stock, with estimates ranging from $450.00 to $599.00, and the consensus rating remains a "Moderate Buy".
• The company reported an earnings per share (EPS) of $2.19 for the last quarter, exceeding predictions of $1.93, alongside a revenue of $2.44 billion.

Intuitive Surgical, Inc. (NASDAQ:ISRG - Get Free Report) rose 2.6% on Friday . The stock traded as high as $449.09 and last traded at $446.13. Approximately 2,147,438 shares traded hands during trading, an increase of 4% from the average daily volume of 2,064,744 shares. The stock had previously closed at $434.62.

Analysts Set New Price Targets

ISRG has been the topic of several research analyst reports. Evercore ISI cut their price objective on Intuitive Surgical from $535.00 to $450.00 and set an "in-line" rating on the stock in a research report on Tuesday, October 7th. UBS Group set a $529.00 price objective on Intuitive Surgical in a research report on Monday. Robert W. Baird lowered their target price on Intuitive Surgical from $600.00 to $536.00 and set an "outperform" rating for the company in a report on Wednesday. Truist Financial lowered their target price on Intuitive Surgical from $600.00 to $525.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Wells Fargo & Company upped their target price on Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Fourteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $580.29.

Intuitive Surgical Stock Performance

The stock has a market capitalization of $159.93 billion, a PE ratio of 62.22, a PEG ratio of 4.57 and a beta of 1.61. The business has a 50 day moving average of $455.44 and a two-hundred day moving average of $496.18.

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 for the quarter, topping analysts' consensus estimates of $1.93 by $0.26. The firm had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.35 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The firm's quarterly revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.78 EPS. On average, equities analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Insider Buying and Selling

In other Intuitive Surgical news, Director Amy L. Ladd sold 335 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $440.69, for a total value 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 trade represents a 31.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gary S. Guthart sold 29,360 shares of the stock in a transaction dated 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 trade represents a 59.69% decrease in their ownership of the stock. 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. 0.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Intuitive Surgical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Chilton Capital Management LLC raised its stake in Intuitive Surgical by 614.3% in the first quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 43 shares during the last quarter. Tobam raised its stake in Intuitive Surgical by 666.7% in the second 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 stake in Intuitive Surgical in the first quarter valued at about $26,000. Kilter Group LLC purchased a new stake in Intuitive Surgical in the second quarter valued at about $27,000. Finally, LFA Lugano Financial Advisors SA purchased a new stake in Intuitive Surgical in the first quarter valued at about $30,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

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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