Intuitive Surgical (NASDAQ:ISRG) Stock Rating Upgraded by BMO Capital Markets

Intuitive Surgical (NASDAQ:ISRG) was upgraded by equities research analysts at BMO Capital Markets to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. dropped their target price on Intuitive Surgical from $625.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday, April 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $580.00 price target on shares of Intuitive Surgical in a report on Tuesday, June 2nd. HSBC dropped their price objective on shares of Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. Mizuho set a $525.00 target price on shares of Intuitive Surgical and gave the stock a “neutral” rating in a research note on Monday, April 13th. Finally, Leerink Partners lowered their target price on shares of Intuitive Surgical from $622.00 to $573.00 and set an “outperform” rating on the stock in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $569.20.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG opened at $411.55 on Wednesday. Intuitive Surgical has a one year low of $396.68 and a one year high of $603.88. The stock has a market capitalization of $145.75 billion, a price-to-earnings ratio of 49.88, a PEG ratio of 3.38 and a beta of 1.46. The company has a 50-day simple moving average of $423.04 and a 200-day simple moving average of $475.13.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.42. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.62 billion. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The business’s revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the company posted $1.81 earnings per share. As a group, research analysts forecast that Intuitive Surgical will post 8.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total value of $169,656.00. Following the completion of the transaction, the executive vice president owned 5,720 shares in the company, valued at approximately $2,426,080.80. This represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 500 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $473.46, for a total transaction of $236,730.00. Following the sale, the director owned 239 shares in the company, valued at $113,156.94. The trade was a 67.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 7,169 shares of company stock worth $3,059,135. 0.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. boosted its stake in shares of Intuitive Surgical by 300.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 33 shares in the last quarter. Holos Integrated Wealth LLC acquired a new stake in shares of Intuitive Surgical in the 4th quarter worth approximately $25,000. Olistico Wealth LLC purchased a new position in Intuitive Surgical in the 4th quarter valued at approximately $28,000. Laurel Wealth Advisors LLC purchased a new position in Intuitive Surgical in the 4th quarter valued at approximately $31,000. Finally, Turning Point Benefit Group Inc. raised its holdings in Intuitive Surgical by 833.3% during the fourth quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 50 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

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.