Intuitive Surgical (NASDAQ:ISRG) Receives “Buy” Rating from BTIG Research

Intuitive Surgical (NASDAQ:ISRG)‘s stock had its “buy” rating reiterated by stock analysts at BTIG Research in a note issued to investors on Tuesday, Benzinga reports. They presently have a $469.00 price target on the medical equipment provider’s stock. BTIG Research’s price objective would suggest a potential upside of 27.90% from the stock’s current price.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. dropped their price objective on Intuitive Surgical from $550.00 to $450.00 and set an “overweight” rating for the company in a research note on Friday, July 17th. Raymond James Financial reissued an “outperform” rating and issued a $483.00 target price (down from $577.00) on shares of Intuitive Surgical in a report on Friday, July 17th. Mizuho set a $500.00 price target on Intuitive Surgical and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Evercore set a $430.00 price target on Intuitive Surgical in a research note on Monday, July 6th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $487.00 price objective (down from $654.00) on shares of Intuitive Surgical in a research report on Friday, July 17th. Twenty-two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $508.68.

Intuitive Surgical Stock Performance

ISRG stock opened at $366.70 on Tuesday. The company’s 50-day moving average price is $380.66 and its 200 day moving average price is $427.31. Intuitive Surgical has a 52 week low of $328.57 and a 52 week high of $603.88. The company has a market cap of $129.55 billion, a P/E ratio of 42.00, a P/E/G ratio of 2.77 and a beta of 1.47.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.32. Intuitive Surgical had a net margin of 28.45% and a return on equity of 16.91%. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.83 billion. During the same period last year, the company posted $1.81 earnings per share. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. On average, equities research analysts expect that Intuitive Surgical will post 8.87 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Mark Brosius sold 77 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $375.57, for a total value of $28,918.89. Following the sale, the executive vice president directly owned 881 shares in the company, valued at $330,877.17. This represents a 8.04% decrease in their ownership of the stock. The sale 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 Gary Guthart sold 10,000 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $400.00, for a total value of $4,000,000.00. Following the sale, the director directly owned 1,245,679 shares in the company, valued at approximately $498,271,600. The trade was a 0.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 11,635 shares of company stock valued at $4,640,172. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuitive Surgical

A number of institutional investors have recently modified their holdings of ISRG. Brown Financial Advisors lifted its stake in shares of Intuitive Surgical by 18.3% during the second quarter. Brown Financial Advisors now owns 2,293 shares of the medical equipment provider’s stock valued at $912,000 after buying an additional 355 shares during the period. Advus Financial Partners LLC purchased a new stake in Intuitive Surgical in the 2nd quarter worth approximately $208,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Intuitive Surgical in the 2nd quarter valued at $14,316,000. California State Teachers Retirement System raised its holdings in Intuitive Surgical by 39,531.1% in the 2nd quarter. California State Teachers Retirement System now owns 213,725,958 shares of the medical equipment provider’s stock valued at $84,994,539,000 after acquiring an additional 213,186,670 shares during the last quarter. Finally, Tanager Wealth Management LLP lifted its stake in shares of Intuitive Surgical by 70.2% during the 2nd quarter. Tanager Wealth Management LLP now owns 749 shares of the medical equipment provider’s stock worth $298,000 after purchasing an additional 309 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

Intuitive Surgical Company Profile

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.