Piper Sandler Raises Intuitive Surgical (NASDAQ:ISRG) Price Target to $490.00

Intuitive Surgical (NASDAQ:ISRG) had its price target lifted by Piper Sandler from $435.00 to $490.00 in a research note released on Tuesday, Benzinga reports. Piper Sandler currently has an overweight rating on the medical equipment provider’s stock.

Several other research analysts also recently issued reports on ISRG. BTIG Research upped their target price on shares of Intuitive Surgical from $412.00 to $421.00 and gave the stock a buy rating in a research note on Friday, April 19th. Citigroup boosted their price target on Intuitive Surgical from $428.00 to $462.00 and gave the stock a buy rating in a research note on Wednesday, April 3rd. The Goldman Sachs Group started coverage on Intuitive Surgical in a research report on Thursday, May 30th. They set a buy rating and a $500.00 price objective on the stock. Robert W. Baird decreased their target price on Intuitive Surgical from $440.00 to $436.00 and set an outperform rating for the company in a research report on Friday, April 19th. Finally, Stifel Nicolaus raised their price target on shares of Intuitive Surgical from $420.00 to $430.00 and gave the company a buy rating in a report on Monday, April 8th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Intuitive Surgical has an average rating of Moderate Buy and a consensus price target of $410.32.

Intuitive Surgical Stock Performance

ISRG stock opened at $443.50 on Tuesday. The firm has a 50 day moving average price of $415.83 and a 200-day moving average price of $389.66. Intuitive Surgical has a 52-week low of $254.85 and a 52-week high of $449.00. The firm has a market capitalization of $157.31 billion, a price-to-earnings ratio of 80.05, a PEG ratio of 5.74 and a beta of 1.39.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Thursday, April 18th. The medical equipment provider reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.10. Intuitive Surgical had a return on equity of 12.91% and a net margin of 27.16%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the business earned $1.00 earnings per share. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Intuitive Surgical will post 4.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Robert Desantis sold 1,498 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $369.92, for a total value of $554,140.16. Following the transaction, the executive vice president now directly owns 5,507 shares in the company, valued at $2,037,149.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Robert Desantis sold 1,498 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $369.92, for a total transaction of $554,140.16. Following the completion of the transaction, the executive vice president now directly owns 5,507 shares of the company’s stock, valued at $2,037,149.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alan J. Levy sold 2,000 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $370.70, for a total transaction of $741,400.00. Following the transaction, the director now directly owns 25,319 shares of the company’s stock, valued at approximately $9,385,753.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,956 shares of company stock valued at $6,927,011. Company insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ISRG. Norges Bank bought a new position in Intuitive Surgical during the fourth quarter valued at $1,313,238,000. WCM Investment Management LLC purchased a new position in Intuitive Surgical in the fourth quarter worth about $575,536,000. Capital Research Global Investors bought a new stake in Intuitive Surgical during the first quarter worth approximately $374,390,000. International Assets Investment Management LLC raised its position in Intuitive Surgical by 32,360.5% during the fourth quarter. International Assets Investment Management LLC now owns 686,865 shares of the medical equipment provider’s stock valued at $231,721,000 after purchasing an additional 684,749 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Intuitive Surgical by 111.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,285,565 shares of the medical equipment provider’s stock valued at $513,056,000 after purchasing an additional 678,375 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors.

Intuitive Surgical Company Profile

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.