Intuitive Surgical (NASDAQ:ISRG) Given “Overweight” Rating at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Intuitive Surgical (NASDAQ:ISRG) in a report issued on Friday morning, Benzinga reports. The brokerage currently has a $538.00 price target on the medical equipment provider’s stock, up from their prior price target of $495.00.

Several other analysts have also weighed in on the company. Barclays upped their price objective on Intuitive Surgical from $430.00 to $490.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Stifel Nicolaus raised their price objective on shares of Intuitive Surgical from $430.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Morgan Stanley boosted their target price on shares of Intuitive Surgical from $375.00 to $460.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. JPMorgan Chase & Co. raised their target price 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. Finally, Mizuho lifted their price target on shares of Intuitive Surgical from $440.00 to $500.00 in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $513.74.

Intuitive Surgical Price Performance

NASDAQ ISRG opened at $518.86 on Friday. The firm has a market capitalization of $184.04 billion, a PE ratio of 93.66, a P/E/G ratio of 5.40 and a beta of 1.39. Intuitive Surgical has a 12 month low of $254.85 and a 12 month high of $523.34. The company’s 50 day simple moving average is $484.91 and its 200 day simple moving average is $439.55.

Insider Activity

In related news, EVP Robert Desantis sold 1,413 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $438.60, for a total value of $619,741.80. Following the completion of the sale, the executive vice president now directly owns 5,506 shares of the company’s stock, valued at approximately $2,414,931.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Henry L. Charlton sold 40,243 shares of the company’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 transaction, the senior vice president now directly owns 3,001 shares of the company’s stock, valued at approximately $1,461,006.84. This represents a 0.00 % 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. Also, EVP Robert Desantis sold 1,413 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $438.60, for a total value of $619,741.80. Following the sale, the executive vice president now owns 5,506 shares of the company’s stock, valued at approximately $2,414,931.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,902 shares of company stock worth $23,596,360. 0.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intuitive Surgical

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Intuitive Surgical by 1.6% in the first quarter. Vanguard Group Inc. now owns 30,868,620 shares of the medical equipment provider’s stock worth $12,319,358,000 after buying an additional 493,126 shares during the last quarter. Capital World Investors grew its position in Intuitive Surgical by 1.0% in the first quarter. Capital World Investors now owns 7,284,269 shares of the medical equipment provider’s stock worth $2,907,079,000 after acquiring an additional 73,634 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Intuitive Surgical by 4.6% during the 1st quarter. Jennison Associates LLC now owns 4,488,343 shares of the medical equipment provider’s stock worth $1,791,253,000 after purchasing an additional 198,483 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Intuitive Surgical by 3.0% during the 2nd quarter. American Century Companies Inc. now owns 2,398,193 shares of the medical equipment provider’s stock valued at $1,066,837,000 after purchasing an additional 70,556 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its stake in shares of Intuitive Surgical by 1.6% in the 2nd quarter. Clearbridge Investments LLC now owns 1,981,297 shares of the medical equipment provider’s stock valued at $881,380,000 after purchasing an additional 30,449 shares during the last quarter. 83.64% of the stock is owned by hedge funds and other 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.