Intuitive Surgical (NASDAQ:ISRG) Upgraded to “Strong-Buy” at TD Cowen

TD Cowen upgraded shares of Intuitive Surgical (NASDAQ:ISRG) to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

ISRG has been the topic of several other reports. Wells Fargo & Company boosted their price target on Intuitive Surgical from $600.00 to $654.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. Robert W. Baird dropped their price objective on shares of Intuitive Surgical from $655.00 to $645.00 and set an “outperform” rating on the stock in a research note on Friday, January 23rd. Mizuho set a $575.00 target price on shares of Intuitive Surgical in a research report on Wednesday, October 22nd. Barclays set a $712.00 price target on shares of Intuitive Surgical and gave the company an “overweight” rating in a report on Monday. Finally, Argus lifted their price target on shares of Intuitive Surgical from $600.00 to $630.00 in a research note on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $620.41.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG traded down $2.56 during midday trading on Tuesday, hitting $522.48. 310,710 shares of the company’s stock traded hands, compared to its average volume of 2,013,297. The firm’s fifty day moving average price is $561.53 and its two-hundred day moving average price is $511.67. Intuitive Surgical has a twelve month low of $425.00 and a twelve month high of $609.08. The company has a market cap of $187.30 billion, a PE ratio of 66.30, a P/E/G ratio of 4.12 and a beta of 1.67.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Thursday, January 22nd. The medical equipment provider reported $2.53 EPS for the quarter, beating the consensus estimate of $2.27 by $0.26. The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.72 billion. Intuitive Surgical had a return on equity of 15.06% and a net margin of 28.38%.The firm’s revenue was up 18.8% compared to the same quarter last year. During the same period last year, the company posted $2.21 earnings per share. As a group, equities research analysts anticipate that Intuitive Surgical will post 6.43 EPS for the current fiscal year.

Insider Buying and Selling at Intuitive Surgical

In related news, VP Fredrik Widman sold 2,067 shares of Intuitive Surgical stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $550.00, for a total value of $1,136,850.00. Following the completion of the transaction, the vice president directly owned 473 shares in the company, valued at approximately $260,150. This trade represents a 81.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Henry L. Charlton sold 13,731 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $580.00, for a total value of $7,963,980.00. Following the completion of the sale, the executive vice president directly owned 3,056 shares of the company’s stock, valued at approximately $1,772,480. This represents a 81.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 48,027 shares of company stock valued at $27,402,696. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Intuitive Surgical

Institutional investors and hedge funds have recently made changes to their positions in the company. Tobam increased its stake in Intuitive Surgical by 666.7% during the second quarter. Tobam now owns 46 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 40 shares during the last quarter. Holos Integrated Wealth LLC acquired a new position in shares of Intuitive Surgical in the 4th quarter valued at about $25,000. Newbridge Financial Services Group Inc. grew its position in shares of Intuitive Surgical by 300.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 33 shares during the last quarter. Kilter Group LLC acquired a new stake in Intuitive Surgical during the second quarter worth about $27,000. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in Intuitive Surgical during the third quarter worth about $27,000. 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.