Intuitive Surgical (NASDAQ:ISRG) Upgraded to Strong-Buy at BMO Capital Markets

Intuitive Surgical (NASDAQ:ISRG) was upgraded by stock analysts at BMO Capital Markets to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other equities analysts also recently issued reports on ISRG. Truist Financial cut their target price on Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Wall Street Zen upgraded Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. TD Cowen dropped their price objective on Intuitive Surgical from $660.00 to $585.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. Leerink Partners cut their price objective on Intuitive Surgical from $622.00 to $573.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. Finally, Evercore set a $430.00 target price on Intuitive Surgical in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $569.20.

Intuitive Surgical Stock Down 0.9%

Shares of Intuitive Surgical stock opened at $411.55 on Wednesday. Intuitive Surgical has a 52-week low of $396.68 and a 52-week high of $603.88. The company’s 50-day simple moving average is $423.04 and its 200-day simple moving average is $475.13. The firm has a market cap of $145.75 billion, a price-to-earnings ratio of 49.88, a price-to-earnings-growth ratio of 3.38 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.42. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The firm’s revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.81 earnings per share. Equities research analysts anticipate that Intuitive Surgical will post 8.57 EPS for the current year.

Insider Activity

In related news, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following the completion of the transaction, the executive vice president directly owned 5,720 shares in the company, valued at $2,426,080.80. The trade was a 6.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total value of $55,156.50. Following the completion of the sale, the director directly owned 120 shares in the company, valued at approximately $55,620. The trade was a 49.79% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 7,169 shares of company stock worth $3,059,135 over the last ninety days. 0.60% of the stock is currently owned by insiders.

Institutional Trading of Intuitive Surgical

Institutional investors and hedge funds have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. increased its position in 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 worth $25,000 after purchasing an additional 33 shares in the last quarter. Holos Integrated Wealth LLC purchased a new position in Intuitive Surgical in the 4th quarter valued at about $25,000. Olistico Wealth LLC acquired a new stake in shares of Intuitive Surgical during the 4th quarter worth about $28,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Intuitive Surgical during the 4th quarter worth about $31,000. Finally, Turning Point Benefit Group Inc. grew its holdings in shares of Intuitive Surgical by 833.3% during the fourth quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 50 shares in the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Surgical Company Profile

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.