Piper Sandler Reaffirms Overweight Rating for Intuitive Surgical (NASDAQ:ISRG)

Intuitive Surgical (NASDAQ:ISRG - Get Free Report)'s stock had its "overweight" rating restated by equities research analysts at Piper Sandler in a note issued to investors on Wednesday,Benzinga reports. They presently have a $595.00 price target on the medical equipment provider's stock, up from their prior price target of $575.00. Piper Sandler's price objective would suggest a potential upside of 19.99% from the company's current price.

A number of other brokerages have also issued reports on ISRG. Robert W. Baird cut their target price on shares of Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company increased their price objective on Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a report on Wednesday. Citigroup reiterated a "buy" rating and set a $650.00 price target (up previously from $590.00) on shares of Intuitive Surgical in a research note on Thursday, May 22nd. Evercore ISI boosted their target price on Intuitive Surgical from $470.00 to $550.00 and gave the stock an "in-line" rating in a research report on Tuesday, July 8th. Finally, Truist Financial upped their price objective on Intuitive Surgical from $590.00 to $600.00 and gave the stock a "buy" rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $592.05.

Intuitive Surgical Trading Up 1.5%

Shares of Intuitive Surgical stock traded up $7.25 during trading hours on Wednesday, reaching $495.86. 1,870,941 shares of the company's stock were exchanged, compared to its average volume of 1,842,693. Intuitive Surgical has a 52-week low of $425.00 and a 52-week high of $616.00. The firm has a market capitalization of $177.76 billion, a price-to-earnings ratio of 69.16, a price-to-earnings-growth ratio of 5.53 and a beta of 1.64. The company has a fifty day moving average of $529.86 and a 200-day moving average of $535.07.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.26. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The business had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same period last year, the company earned $1.78 earnings per share. The company's quarterly revenue was up 21.4% on a year-over-year basis. On average, equities research analysts anticipate that Intuitive Surgical will post 6.43 earnings per share for the current fiscal year.

Insider Transactions at Intuitive Surgical

In related news, SVP Mark Brosius sold 216 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $563.11, for a total value of $121,631.76. Following the completion of the transaction, the senior vice president directly owned 907 shares in the company, valued at $510,740.77. This trade represents a 19.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert Desantis sold 188 shares of the stock in a transaction on Monday, April 28th. The shares were sold at an average price of $515.91, for a total value of $96,991.08. Following the sale, the executive vice president owned 5,224 shares in the company, valued at approximately $2,695,113.84. This represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,798 shares of company stock valued at $3,955,331 over the last quarter. 0.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intuitive Surgical

A number of institutional investors have recently bought and sold shares of ISRG. Hurley Capital LLC purchased a new position in Intuitive Surgical during the fourth quarter valued at $28,000. Parvin Asset Management LLC purchased a new position in shares of Intuitive Surgical during the fourth quarter valued at about $26,000. Chilton Capital Management LLC increased its holdings in shares of Intuitive Surgical by 614.3% in the first quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 43 shares during the last quarter. Global Financial Private Client LLC grew its position in Intuitive Surgical by 253.3% in the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock worth $26,000 after acquiring an additional 38 shares in the last quarter. Finally, Elite Financial Inc. purchased a new stake in shares of Intuitive Surgical in the first quarter worth approximately $26,000. 83.64% of the stock is owned by institutional investors.

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.