Intuitive Surgical (NASDAQ:ISRG) Upgraded at Zacks Research

Zacks Research upgraded shares of Intuitive Surgical (NASDAQ:ISRG) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other brokerages have also weighed in on ISRG. Truist Financial upped their price objective on Intuitive Surgical from $620.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, December 18th. UBS Group reiterated a “neutral” rating on shares of Intuitive Surgical in a research report on Thursday, January 15th. Daiwa Securities Group raised their price objective on shares of Intuitive Surgical from $510.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. BTIG Research reaffirmed a “buy” rating and issued a $616.00 price objective on shares of Intuitive Surgical in a research note on Friday, January 23rd. Finally, Jefferies Financial Group boosted their target price on shares of Intuitive Surgical from $550.00 to $560.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Intuitive Surgical has an average rating of “Moderate Buy” and a consensus price target of $617.23.

Intuitive Surgical Trading Up 0.9%

Shares of NASDAQ:ISRG opened at $504.05 on Thursday. The company has a 50 day moving average of $535.88 and a 200-day moving average of $510.74. The firm has a market cap of $179.00 billion, a P/E ratio of 63.88, a P/E/G ratio of 3.90 and a beta of 1.65. Intuitive Surgical has a twelve month low of $425.00 and a twelve month high of $607.35.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 EPS for the quarter, topping the consensus estimate of $2.27 by $0.26. The firm had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.72 billion. Intuitive Surgical had a return on equity of 15.06% and a net margin of 28.38%.The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.21 earnings per share. Equities research analysts forecast that Intuitive Surgical will post 6.43 EPS for the current year.

Insider Activity

In other Intuitive Surgical news, EVP Myriam Curet sold 421 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total transaction of $208,378.16. Following the completion of the sale, the executive vice president directly owned 409 shares of the company’s stock, valued at approximately $202,438.64. This represents a 50.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Fredrik Widman sold 133 shares of Intuitive Surgical stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total transaction of $65,829.68. Following the completion of the transaction, the vice president directly owned 660 shares in the company, valued at approximately $326,673.60. This trade represents a 16.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 56,189 shares of company stock valued at $30,785,441 over the last ninety days. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of Intuitive Surgical

Large investors have recently added to or reduced their stakes in the company. SteelPeak Wealth LLC raised its stake in shares of Intuitive Surgical by 28.7% in the 3rd quarter. SteelPeak Wealth LLC now owns 41,993 shares of the medical equipment provider’s stock valued at $18,781,000 after acquiring an additional 9,364 shares in the last quarter. Atlantic Union Bankshares Corp boosted its position in Intuitive Surgical by 19.3% during the third quarter. Atlantic Union Bankshares Corp now owns 22,759 shares of the medical equipment provider’s stock worth $10,179,000 after purchasing an additional 3,676 shares during the period. Amalgamated Bank grew its holdings in Intuitive Surgical by 2.2% during the second quarter. Amalgamated Bank now owns 81,542 shares of the medical equipment provider’s stock valued at $44,311,000 after purchasing an additional 1,772 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Intuitive Surgical by 89.3% in the second quarter. Bessemer Group Inc. now owns 788,328 shares of the medical equipment provider’s stock valued at $428,386,000 after purchasing an additional 371,806 shares during the period. Finally, World Investment Advisors raised its position in shares of Intuitive Surgical by 238.3% in the third quarter. World Investment Advisors now owns 5,399 shares of the medical equipment provider’s stock valued at $2,415,000 after purchasing an additional 3,803 shares during the period. 83.64% of the stock is owned by institutional investors and hedge funds.

About Intuitive Surgical

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.