Intuitive Surgical’s (ISRG) Overweight Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of Intuitive Surgical (NASDAQ:ISRG) in a research report released on Wednesday,Benzinga reports. The brokerage currently has a $595.00 price objective on the medical equipment provider’s stock, up from their previous price objective of $575.00.

ISRG has been the topic of a number of other reports. Royal Bank Of Canada upped their target price on Intuitive Surgical from $605.00 to $615.00 and gave the stock an “outperform” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lowered Intuitive Surgical from a “hold” rating to a “sell” rating and decreased their target price for the stock from $515.00 to $440.00 in a research note on Monday, June 9th. Evercore ISI upped their target price on Intuitive Surgical from $470.00 to $550.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 8th. BTIG Research upped their target price on Intuitive Surgical from $566.00 to $571.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Citigroup restated a “buy” rating and issued a $650.00 target price (up from $590.00) on shares of Intuitive Surgical in a research note on Thursday, May 22nd. One 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $592.05.

Intuitive Surgical Stock Performance

Shares of ISRG opened at $495.86 on Wednesday. The stock’s 50-day simple moving average is $529.86 and its 200 day simple moving average is $535.13. The stock has a market capitalization of $177.73 billion, a price-to-earnings ratio of 69.16, a price-to-earnings-growth ratio of 5.45 and a beta of 1.64. Intuitive Surgical has a 52-week low of $425.00 and a 52-week high of $616.00.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.26. The business had revenue of $2.44 billion for 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 quarter in the prior year, the firm posted $1.78 EPS. On average, research analysts forecast that Intuitive Surgical will post 6.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Mark Brosius sold 216 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $563.11, for a total transaction of $121,631.76. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jami K. Nachtsheim sold 2,400 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $520.00, for a total value of $1,248,000.00. Following the transaction, the director owned 6,371 shares in the company, valued at approximately $3,312,920. The trade was a 27.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,798 shares of company stock valued at $3,955,331 in the last 90 days. 0.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Intuitive Surgical

Several institutional investors and hedge funds have recently bought and sold shares of the business. NorthRock Partners LLC lifted its holdings in Intuitive Surgical by 0.5% in the 2nd quarter. NorthRock Partners LLC now owns 4,711 shares of the medical equipment provider’s stock worth $2,560,000 after buying an additional 25 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in Intuitive Surgical by 25.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 40,755 shares of the medical equipment provider’s stock worth $22,147,000 after buying an additional 8,355 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Intuitive Surgical by 1.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 30,971 shares of the medical equipment provider’s stock worth $16,830,000 after buying an additional 300 shares during the period. Wealth Architects LLC purchased a new stake in Intuitive Surgical in the 2nd quarter worth approximately $202,000. Finally, Concord Asset Management LLC VA lifted its holdings in Intuitive Surgical by 20.7% in the 2nd quarter. Concord Asset Management LLC VA now owns 3,517 shares of the medical equipment provider’s stock worth $1,911,000 after buying an additional 604 shares during the period. Hedge funds and other institutional investors 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.