Intuitive Surgical, Inc. (NASDAQ:ISRG) Sees Large Growth in Short Interest

Intuitive Surgical, Inc. (NASDAQ:ISRG) saw a large growth in short interest in August. As of August 15th, there was short interest totalling 3,740,000 shares, a growth of 10.3% from the July 31st total of 3,390,000 shares. Based on an average daily trading volume, of 1,520,000 shares, the days-to-cover ratio is currently 2.5 days.

Analyst Ratings Changes

Several equities analysts recently weighed in on ISRG shares. Morgan Stanley lifted their target price on Intuitive Surgical from $375.00 to $460.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Redburn Atlantic raised Intuitive Surgical from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $380.00 to $510.00 in a research report on Friday, August 2nd. Piper Sandler lifted their price target on shares of Intuitive Surgical from $490.00 to $495.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Truist Financial increased their price objective on shares of Intuitive Surgical from $450.00 to $515.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Robert W. Baird raised their price objective on shares of Intuitive Surgical from $487.00 to $503.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Intuitive Surgical currently has an average rating of “Moderate Buy” and a consensus price target of $446.45.

Insider Buying and Selling

In related news, SVP Henry L. Charlton sold 40,243 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $486.84, for a total transaction of $19,591,902.12. Following the transaction, the senior vice president now owns 3,001 shares in the company, valued at $1,461,006.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Intuitive Surgical news, SVP Henry L. Charlton sold 40,243 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $486.84, for a total transaction of $19,591,902.12. Following the completion of the sale, the senior vice president now directly owns 3,001 shares in the company, valued at approximately $1,461,006.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Craig H. Barratt sold 1,400 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $411.00, for a total transaction of $575,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,056 shares of company stock worth $25,276,044. 0.90% of the stock is owned by corporate insiders.

Institutional Trading of Intuitive Surgical

Several institutional investors have recently added to or reduced their stakes in ISRG. Creekmur Asset Management LLC lifted its stake in shares of Intuitive Surgical by 200.0% during the 1st quarter. Creekmur Asset Management LLC now owns 63 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 42 shares during the last quarter. Ridgewood Investments LLC bought a new stake in shares of Intuitive Surgical during the second quarter worth $26,000. Able Wealth Management LLC purchased a new stake in shares of Intuitive Surgical during the fourth quarter valued at $28,000. Delos Wealth Advisors LLC grew its holdings in shares of Intuitive Surgical by 380.0% in the first quarter. Delos Wealth Advisors LLC now owns 72 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 57 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC purchased a new position in Intuitive Surgical in the 4th quarter worth about $30,000. Institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Performance

Shares of Intuitive Surgical stock opened at $492.63 on Monday. The stock has a market cap of $175.06 billion, a price-to-earnings ratio of 88.92, a price-to-earnings-growth ratio of 5.43 and a beta of 1.39. The stock has a 50 day moving average price of $454.69 and a 200-day moving average price of $414.94. Intuitive Surgical has a one year low of $254.85 and a one year high of $493.97.

Intuitive Surgical (NASDAQ:ISRG) last posted 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. Intuitive Surgical had a net margin of 27.65% and a return on equity of 13.04%. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the previous year, the business posted $1.18 earnings per share. The business’s revenue was up 14.5% compared to the same quarter last year. Sell-side analysts predict that Intuitive Surgical will post 5.22 earnings per share for the current fiscal year.

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.