Intuitive Surgical (NASDAQ:ISRG) Shares Up 2.2% – Still a Buy?

Intuitive Surgical, Inc. (NASDAQ:ISRG) rose 2.2% during mid-day trading on Friday . The stock traded as high as $562.65 and last traded at $560.00. Approximately 2,708,753 shares traded hands during trading, an increase of 28% from the average daily volume of 2,124,505 shares. The stock had previously closed at $547.78.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Truist Financial set a $620.00 price objective on shares of Intuitive Surgical and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Intuitive Surgical in a research report on Friday, August 22nd. Raymond James Financial set a $603.00 price target on Intuitive Surgical and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Argus increased their price objective on Intuitive Surgical from $600.00 to $630.00 in a report on Monday, October 27th. Finally, Leerink Partners lifted their target price on Intuitive Surgical from $593.00 to $600.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Intuitive Surgical currently has a consensus rating of “Moderate Buy” and a consensus target price of $608.92.

Intuitive Surgical Stock Performance

The business has a 50 day simple moving average of $471.89 and a 200-day simple moving average of $501.02. The stock has a market capitalization of $200.75 billion, a P/E ratio of 74.07, a price-to-earnings-growth ratio of 4.94 and a beta of 1.62.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 EPS for the quarter, topping the consensus estimate of $1.99 by $0.41. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the business earned $1.84 earnings per share. Intuitive Surgical’s revenue for the quarter was up 22.9% compared to the same quarter last year. Equities research analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Insider Activity

In other news, VP Fredrik Widman sold 2,067 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $550.00, for a total transaction of $1,136,850.00. Following the completion of the sale, the vice president directly owned 473 shares of the company’s stock, valued at $260,150. This trade represents a 81.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gary S. Guthart sold 2,800 shares of Intuitive Surgical stock in a transaction on Friday, October 24th. The stock was sold at an average price of $546.27, for a total value of $1,529,556.00. Following the completion of the transaction, the insider owned 17,120 shares in the company, valued at $9,352,142.40. The trade was a 14.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 98,078 shares of company stock valued at $51,445,892 in the last ninety days. 0.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intuitive Surgical

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Intuitive Surgical in the second quarter worth about $2,569,260,000. Nuveen LLC purchased a new stake in shares of Intuitive Surgical in the 1st quarter valued at approximately $1,715,899,000. Rakuten Investment Management Inc. acquired a new position in Intuitive Surgical in the 3rd quarter worth approximately $388,436,000. Vanguard Group Inc. grew its position in Intuitive Surgical by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 33,335,833 shares of the medical equipment provider’s stock worth $18,115,025,000 after purchasing an additional 670,302 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Intuitive Surgical by 26.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,819,666 shares of the medical equipment provider’s stock worth $1,396,496,000 after purchasing an additional 584,375 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

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.