Piper Sandler Forecasts Strong Price Appreciation for Intuitive Surgical (NASDAQ:ISRG) Stock

Key Points

• Piper Sandler raised the price target for Intuitive Surgical (NASDAQ:ISRG) from $595 to $610, suggesting a potential upside of 12.62% from the current price.
• Intuitive Surgical reported a quarterly earnings of $2.40 per share, exceeding the consensus estimate by $0.41, with revenue increasing 22.9% year-over-year.
• Currently, 16 analysts rate the stock as a Buy, while the average target price is approximately $599.68, indicating strong market confidence in the company's future performance.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) had its price objective lifted by equities researchers at Piper Sandler from $595.00 to $610.00 in a research note issued on Wednesday, Marketbeat Ratings reports. The brokerage presently has an "overweight" rating on the medical equipment provider's stock. Piper Sandler's price target would suggest a potential upside of 12.62% from the company's current price.

A number of other analysts have also weighed in on the stock. Sanford C. Bernstein reissued an "outperform" rating and issued a $685.00 price target on shares of Intuitive Surgical in a report on Tuesday. Erste Group Bank reaffirmed a "hold" rating on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Intuitive Surgical in a research note on Friday, August 22nd. Wall Street Zen cut shares of Intuitive Surgical from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Mizuho reduced their price objective on shares of Intuitive Surgical from $570.00 to $520.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 14th. Sixteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $599.68.

Intuitive Surgical Stock Performance

Shares of NASDAQ ISRG traded up $78.89 during mid-day trading on Wednesday, hitting $541.63. 2,323,641 shares of the stock were exchanged, compared to its average volume of 2,078,911. The company has a market cap of $194.16 billion, a P/E ratio of 75.32, a PEG ratio of 4.81 and a beta of 1.61. The stock's fifty day simple moving average is $454.39 and its two-hundred day simple moving average is $495.58. Intuitive Surgical has a twelve month low of $425.00 and a twelve month high of $616.00.

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, topping the consensus estimate of $1.99 by $0.41. The company had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.41 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The company's revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the business posted $1.84 earnings per share. As a group, equities research analysts predict that Intuitive Surgical will post 6.43 earnings per share for the current fiscal year.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, EVP Myriam Curet sold 4,500 shares of Intuitive Surgical stock in a transaction on Friday, July 25th. The shares were sold at an average price of $492.48, for a total value of $2,216,160.00. Following the sale, the executive vice president directly owned 353 shares in the company, valued at approximately $173,845.44. The trade was a 92.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy L. Ladd sold 335 shares of Intuitive Surgical 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 owned 739 shares in the company, valued at $325,669.91. The trade was a 31.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,224 shares of company stock valued at $21,716,492. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ISRG. Brighton Jones LLC increased its stake in shares of Intuitive Surgical by 24.9% during the 4th 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 last quarter. GAMMA Investing LLC increased its stake in shares of Intuitive Surgical by 9.3% during the 1st quarter. GAMMA Investing LLC now owns 6,115 shares of the medical equipment provider's stock worth $3,029,000 after purchasing an additional 518 shares during the last quarter. Valmark Advisers Inc. increased its stake in shares of Intuitive Surgical by 8.9% during the 1st quarter. Valmark Advisers Inc. now owns 982 shares of the medical equipment provider's stock worth $486,000 after purchasing an additional 80 shares during the last quarter. Consolidated Portfolio Review Corp bought a new stake in shares of Intuitive Surgical during the 1st quarter worth about $208,000. Finally, International Assets Investment Management LLC boosted its holdings in shares of Intuitive Surgical by 14.5% during the 1st quarter. International Assets Investment Management LLC now owns 2,379 shares of the medical equipment provider's stock worth $1,178,000 after buying an additional 301 shares during the period. 83.64% of the stock is currently owned by institutional investors and hedge funds.

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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