Piper Sandler Reiterates “Overweight” Rating for Intuitive Surgical (NASDAQ:ISRG)

Intuitive Surgical (NASDAQ:ISRG)‘s stock had its “overweight” rating restated by equities research analysts at Piper Sandler in a research note issued to investors on Friday, Benzinga reports. They currently have a $538.00 target price on the medical equipment provider’s stock, up from their previous target price of $495.00. Piper Sandler’s target price would indicate a potential upside of 3.23% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. Barclays raised their price target on Intuitive Surgical from $430.00 to $490.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Royal Bank of Canada raised their price objective on Intuitive Surgical from $525.00 to $555.00 and gave the stock an “outperform” rating in a research note on Friday. Leerink Partners raised their price objective on Intuitive Surgical from $489.00 to $502.00 in a research note on Thursday. Evercore ISI raised their price objective on Intuitive Surgical from $410.00 to $475.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 1st. Finally, Raymond James raised their price objective on Intuitive Surgical from $500.00 to $540.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $513.74.

Intuitive Surgical Trading Up 10.0 %

ISRG opened at $521.15 on Friday. Intuitive Surgical has a 12-month low of $254.85 and a 12-month high of $523.34. The business’s fifty day simple moving average is $483.85 and its 200-day simple moving average is $438.17. The company has a market capitalization of $184.85 billion, a price-to-earnings ratio of 94.07, a PEG ratio of 5.40 and a beta of 1.39.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Thursday, July 18th. The medical equipment provider reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.24. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.97 billion. Intuitive Surgical had a return on equity of 13.04% and a net margin of 27.65%. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.18 earnings per share. On average, equities research analysts predict that Intuitive Surgical will post 5.22 EPS for the current year.

Insiders Place Their Bets

In other Intuitive Surgical news, SVP Henry L. Charlton sold 40,243 shares of Intuitive Surgical stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $486.84, for a total value of $19,591,902.12. Following the sale, the senior vice president now owns 3,001 shares in the company, valued at $1,461,006.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Mark Brosius sold 2,115 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $491.91, for a total value of $1,040,389.65. Following the sale, the insider now owns 295 shares in the company, valued at approximately $145,113.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Henry L. Charlton sold 40,243 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $486.84, for a total value of $19,591,902.12. Following the completion of the sale, the senior vice president now owns 3,001 shares in the company, valued at $1,461,006.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,120 shares of company stock valued at $25,528,753. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Intuitive Surgical

Institutional investors and hedge funds have recently modified their holdings of the company. Capital Research Global Investors purchased a new stake in Intuitive Surgical during the 1st quarter worth about $374,390,000. Vanguard Group Inc. boosted its position in shares of Intuitive Surgical by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 30,868,620 shares of the medical equipment provider’s stock worth $12,319,358,000 after acquiring an additional 493,126 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Intuitive Surgical by 51.2% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 893,341 shares of the medical equipment provider’s stock worth $356,524,000 after acquiring an additional 302,382 shares in the last quarter. Strategic Financial Concepts LLC boosted its position in shares of Intuitive Surgical by 40,221.4% during the 2nd quarter. Strategic Financial Concepts LLC now owns 266,121 shares of the medical equipment provider’s stock worth $1,184,000 after acquiring an additional 265,461 shares in the last quarter. Finally, GQG Partners LLC acquired a new position in shares of Intuitive Surgical during the 1st quarter worth about $99,523,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Company Profile

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.