Short Interest in Intuitive Surgical, Inc. (NASDAQ:ISRG) Drops By 5.8%

Intuitive Surgical, Inc. (NASDAQ:ISRG) was the target of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 3,740,000 shares, a decline of 5.8% from the September 15th total of 3,970,000 shares. Based on an average daily volume of 1,400,000 shares, the short-interest ratio is currently 2.7 days.

Intuitive Surgical Stock Down 0.4 %

Shares of Intuitive Surgical stock opened at $476.59 on Thursday. Intuitive Surgical has a 12 month low of $254.85 and a 12 month high of $496.48. The business has a fifty day simple moving average of $482.49 and a 200 day simple moving average of $436.65. The stock has a market cap of $169.05 billion, a PE ratio of 86.03, a price-to-earnings-growth ratio of 5.40 and a beta of 1.39.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Thursday, July 18th. The medical equipment provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.24. Intuitive Surgical had a return on equity of 13.04% and a net margin of 27.65%. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the prior year, the business posted $1.18 EPS. Intuitive Surgical’s revenue was up 14.5% on a year-over-year basis. Analysts expect that Intuitive Surgical will post 5.22 EPS for the current fiscal year.

Insider Activity

In other Intuitive Surgical news, SVP Henry L. Charlton sold 40,243 shares of Intuitive Surgical stock in a transaction 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 sale, the senior vice president now owns 3,001 shares in the company, valued at $1,461,006.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Robert Desantis sold 376 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $446.60, for a total transaction of $167,921.60. Following the completion of the transaction, the executive vice president now owns 5,506 shares in the company, valued at $2,458,979.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Henry L. Charlton sold 40,243 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $486.84, for a total value 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 53,120 shares of company stock worth $25,528,753. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ISRG. Ullmann Wealth Partners Group LLC lifted its position in Intuitive Surgical by 1.6% in the 3rd quarter. Ullmann Wealth Partners Group LLC now owns 1,329 shares of the medical equipment provider’s stock valued at $653,000 after acquiring an additional 21 shares in the last quarter. One Wealth Management Investment & Advisory Services LLC raised its stake in shares of Intuitive Surgical by 3.4% in the 2nd quarter. One Wealth Management Investment & Advisory Services LLC now owns 697 shares of the medical equipment provider’s stock valued at $310,000 after purchasing an additional 23 shares during the period. Daymark Wealth Partners LLC lifted its holdings in shares of Intuitive Surgical by 0.3% in the third quarter. Daymark Wealth Partners LLC now owns 7,027 shares of the medical equipment provider’s stock valued at $3,452,000 after purchasing an additional 24 shares in the last quarter. Indiana Trust & Investment Management CO boosted its position in shares of Intuitive Surgical by 5.3% during the second quarter. Indiana Trust & Investment Management CO now owns 500 shares of the medical equipment provider’s stock worth $222,000 after buying an additional 25 shares during the period. Finally, Hoxton Planning & Management LLC boosted its position in shares of Intuitive Surgical by 4.9% during the second quarter. Hoxton Planning & Management LLC now owns 534 shares of the medical equipment provider’s stock worth $238,000 after buying an additional 25 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ISRG shares. Barclays increased their target price on shares of Intuitive Surgical from $430.00 to $490.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Redburn Atlantic upgraded Intuitive Surgical from a “neutral” rating to a “buy” rating and increased their price target for the stock from $380.00 to $510.00 in a research report on Friday, August 2nd. Piper Sandler lifted their price objective on Intuitive Surgical from $490.00 to $495.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Citigroup raised their target price on Intuitive Surgical from $512.00 to $560.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Intuitive Surgical from $495.00 to $575.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $474.16.

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.