Intuitive Surgical (NASDAQ:ISRG) Stock Rating Raised to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Intuitive Surgical (NASDAQ:ISRG) from a hold rating to a buy rating in a report published on Saturday,Wall Street Zen reports.

ISRG has been the topic of a number of other reports. Evercore set a $430.00 price objective on shares of Intuitive Surgical in a research report on Monday, July 6th. Oppenheimer reiterated an “outperform” rating and issued a $500.00 target price on shares of Intuitive Surgical in a research report on Wednesday, October 21st. Piper Sandler reiterated an “overweight” rating on shares of Intuitive Surgical in a research report on Friday, August 21st. JPMorgan Chase & Co. lifted their target price on shares of Intuitive Surgical from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Wednesday, October 21st. Finally, Royal Bank Of Canada lowered their price target on shares of Intuitive Surgical from $575.00 to $550.00 and set an “outperform” rating on the stock in a report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $493.54.

Intuitive Surgical Trading Down 3.7%

Shares of Intuitive Surgical stock opened at $432.01 on Friday. The stock has a 50-day moving average price of $401.54 and a 200 day moving average price of $434.05. The company has a market cap of $149.75 billion, a P/E ratio of 52.24, a P/E/G ratio of 2.98 and a beta of 1.46. Intuitive Surgical has a 1 year low of $328.57 and a 1 year high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Tuesday, October 20th. The medical equipment provider reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.35. The company had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.91 billion. Intuitive Surgical had a return on equity of 18.17% and a net margin of 25.54%. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.40 EPS. On average, equities analysts forecast that Intuitive Surgical will post 9.37 earnings per share for the current fiscal year.

Insider Transactions at Intuitive Surgical

In other Intuitive Surgical news, Director Craig H. Barratt sold 1,150 shares of Intuitive Surgical stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $443.80, for a total value of $510,370.00. Following the completion of the sale, the director directly owned 1,150 shares in the company, valued at $510,370. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 400 shares of Intuitive Surgical stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $379.00, for a total transaction of $151,600.00. Following the completion of the sale, the director owned 251 shares of the company’s stock, valued at $95,129. This trade represents a 61.44% decrease in their ownership of the stock. 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 a total of 38,778 shares of company stock valued at $16,814,967 in the last ninety days. 0.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ISRG. Bank of America Corp DE grew its position in shares of Intuitive Surgical by 3.3% in the 1st quarter. Bank of America Corp DE now owns 3,616,973 shares of the medical equipment provider’s stock valued at $1,667,388,000 after purchasing an additional 116,292 shares during the period. Bank of New York Mellon Corp acquired a new stake in Intuitive Surgical during the 2nd quarter worth approximately $1,335,753,000. Amundi raised its holdings in Intuitive Surgical by 8.6% during the 1st quarter. Amundi now owns 2,428,356 shares of the medical equipment provider’s stock worth $1,119,448,000 after buying an additional 193,096 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Intuitive Surgical by 95.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider’s stock worth $970,635,000 after buying an additional 1,027,475 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Intuitive Surgical by 10.8% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,893,485 shares of the medical equipment provider’s stock valued at $769,948,000 after buying an additional 184,044 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company’s primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.

The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.