Intuitive Surgical (NASDAQ:ISRG) Upgraded by Erste Group Bank to Buy Rating

Intuitive Surgical (NASDAQ:ISRG) was upgraded by analysts at Erste Group Bank from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday,Benzinga reports.

Several other research firms also recently weighed in on ISRG. Royal Bank of Canada raised their target price on Intuitive Surgical from $525.00 to $555.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. BTIG Research set a $535.00 price objective on Intuitive Surgical in a report on Friday, October 18th. Oppenheimer reaffirmed a “market perform” rating on shares of Intuitive Surgical in a report on Friday, October 18th. Evercore ISI reissued a “cautious” rating on shares of Intuitive Surgical in a research note on Friday, October 18th. Finally, Truist Financial raised their target price on shares of Intuitive Surgical from $520.00 to $570.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. One equities research 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. According to data from MarketBeat, Intuitive Surgical has a consensus rating of “Moderate Buy” and a consensus target price of $524.61.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG traded up $5.48 during midday trading on Tuesday, reaching $537.12. 342,349 shares of the company’s stock traded hands, compared to its average volume of 1,455,427. The company has a fifty day simple moving average of $500.33 and a two-hundred day simple moving average of $459.58. Intuitive Surgical has a 1 year low of $304.50 and a 1 year high of $544.38. The company has a market cap of $191.31 billion, a P/E ratio of 86.31, a PEG ratio of 5.19 and a beta of 1.39.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.32. Intuitive Surgical had a net margin of 28.51% and a return on equity of 13.41%. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.01 billion. As a group, research analysts forecast that Intuitive Surgical will post 5.45 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jamie Samath sold 269 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $539.89, for a total value of $145,230.41. Following the sale, the insider now owns 8,757 shares in the company, valued at approximately $4,727,816.73. The trade was a 2.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brian Edward Miller sold 2,553 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $515.00, for a total value of $1,314,795.00. Following the transaction, the executive vice president now owns 7,066 shares of the company’s stock, valued at $3,638,990. This trade represents a 26.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 91,178 shares of company stock worth $45,897,071 over the last ninety days. Corporate insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Intuitive Surgical

Several large investors have recently added to or reduced their stakes in ISRG. Massachusetts Financial Services Co. MA acquired a new stake in shares of Intuitive Surgical in the third quarter valued at $558,807,000. International Assets Investment Management LLC increased its holdings in Intuitive Surgical by 49,383.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,090,619 shares of the medical equipment provider’s stock worth $535,788,000 after purchasing an additional 1,088,415 shares during the period. Capital Research Global Investors acquired a new stake in Intuitive Surgical in the 1st quarter valued at about $374,390,000. FMR LLC boosted its stake in shares of Intuitive Surgical by 8.3% in the 3rd quarter. FMR LLC now owns 10,971,085 shares of the medical equipment provider’s stock valued at $5,389,765,000 after buying an additional 838,793 shares during the period. Finally, Strategic Financial Concepts LLC grew its position in shares of Intuitive Surgical by 40,221.4% during the second quarter. Strategic Financial Concepts LLC now owns 266,121 shares of the medical equipment provider’s stock worth $1,184,000 after buying an additional 265,461 shares in the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

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.