Intuitive Surgical (NASDAQ:ISRG) Price Target Increased to $494.00 by Analysts at BTIG Research

Intuitive Surgical (NASDAQ:ISRG) had its price target increased by BTIG Research from $469.00 to $494.00 in a research report report published on Wednesday morning, Benzinga reports. BTIG Research currently has a buy rating on the medical equipment provider’s stock.

Other equities research analysts have also issued reports about the stock. Redburn Atlantic upgraded shares of Intuitive Surgical from a neutral rating to a buy rating and increased their target price for the stock from $380.00 to $510.00 in a report on Friday, August 2nd. Robert W. Baird lifted their target price on Intuitive Surgical from $487.00 to $503.00 and gave the stock an outperform rating in a report on Friday, July 19th. Truist Financial increased their price target on Intuitive Surgical from $450.00 to $515.00 and gave the stock a buy rating in a report on Tuesday, July 16th. Stifel Nicolaus lifted their price objective on Intuitive Surgical from $430.00 to $475.00 and gave the company a buy rating in a report on Friday, July 19th. Finally, Piper Sandler increased their target price on Intuitive Surgical from $490.00 to $495.00 and gave the stock an overweight rating in a research note on Friday, July 19th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $446.45.

Intuitive Surgical Price Performance

Shares of NASDAQ ISRG opened at $482.21 on Wednesday. Intuitive Surgical has a fifty-two week low of $254.85 and a fifty-two week high of $493.97. The firm has a market capitalization of $171.04 billion, a P/E ratio of 87.04, a P/E/G ratio of 4.97 and a beta of 1.39. The company’s 50 day simple moving average is $451.45 and its 200 day simple moving average is $412.69.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Thursday, July 18th. The medical equipment provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.24. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Intuitive Surgical had a return on equity of 13.04% and a net margin of 27.65%. The company’s revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.18 earnings per share. Sell-side analysts expect that Intuitive Surgical will post 5.22 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Robert Desantis sold 396 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $486.88, for a total value of $192,804.48. Following the completion of the sale, the executive vice president now directly owns 5,506 shares of the company’s stock, valued at $2,680,761.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Henry L. Charlton sold 40,243 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $486.84, for a total value of $19,591,902.12. Following the transaction, the senior vice president now owns 3,001 shares in the company, valued at approximately $1,461,006.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Robert Desantis sold 396 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $486.88, for a total transaction of $192,804.48. Following the completion of the transaction, the executive vice president now directly owns 5,506 shares in the company, valued at $2,680,761.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,364 shares of company stock worth $26,191,001. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Intuitive Surgical

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sycomore Asset Management lifted its holdings in Intuitive Surgical by 28.6% during the 2nd quarter. Sycomore Asset Management now owns 9,120 shares of the medical equipment provider’s stock worth $4,036,000 after purchasing an additional 2,027 shares during the last quarter. Clearbridge Investments LLC increased its position in Intuitive Surgical by 1.6% during the 2nd quarter. Clearbridge Investments LLC now owns 1,981,297 shares of the medical equipment provider’s stock worth $881,380,000 after buying an additional 30,449 shares during the period. Dana Investment Advisors Inc. lifted its holdings in shares of Intuitive Surgical by 5.0% during the second quarter. Dana Investment Advisors Inc. now owns 1,904 shares of the medical equipment provider’s stock worth $847,000 after buying an additional 90 shares in the last quarter. New Wave Wealth Advisors LLC bought a new stake in shares of Intuitive Surgical in the second quarter valued at about $286,000. Finally, KPP Advisory Services LLC grew its stake in shares of Intuitive Surgical by 11.9% in the second quarter. KPP Advisory Services LLC now owns 1,208 shares of the medical equipment provider’s stock valued at $537,000 after acquiring an additional 128 shares in the last quarter. Institutional investors and hedge funds 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.