Piper Sandler Increases Intuitive Surgical (NASDAQ:ISRG) Price Target to $435.00

Intuitive Surgical (NASDAQ:ISRG) had its target price hoisted by Piper Sandler from $425.00 to $435.00 in a report published on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the medical equipment provider’s stock.

A number of other brokerages have also recently commented on ISRG. Jefferies Financial Group raised their target price on Intuitive Surgical from $365.00 to $375.00 and gave the stock a hold rating in a report on Friday. Truist Financial raised their target price on Intuitive Surgical from $390.00 to $435.00 and gave the stock a buy rating in a report on Wednesday, January 24th. Mizuho raised their target price on Intuitive Surgical from $350.00 to $390.00 and gave the stock a neutral rating in a report on Thursday, January 25th. StockNews.com cut Intuitive Surgical from a buy rating to a hold rating in a report on Thursday, February 29th. Finally, Citigroup raised their target price on Intuitive Surgical from $428.00 to $462.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $396.17.

Intuitive Surgical Price Performance

NASDAQ ISRG opened at $368.93 on Friday. The business’s fifty day moving average price is $386.57 and its 200-day moving average price is $344.41. The stock has a market capitalization of $130.77 billion, a price-to-earnings ratio of 66.59, a PEG ratio of 5.69 and a beta of 1.36. Intuitive Surgical has a 1-year low of $254.85 and a 1-year high of $403.76.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Thursday, April 18th. The medical equipment provider reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.10. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Intuitive Surgical had a return on equity of 12.91% and a net margin of 27.16%. The company’s revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.00 EPS. Equities research analysts anticipate that Intuitive Surgical will post 4.93 EPS for the current year.

Insider Activity

In other news, CEO Gary S. Guthart sold 24,325 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $376.06, for a total transaction of $9,147,659.50. Following the completion of the transaction, the chief executive officer now owns 9,425 shares in the company, valued at $3,544,365.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Gary S. Guthart sold 24,325 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $376.06, for a total transaction of $9,147,659.50. Following the completion of the transaction, the chief executive officer now owns 9,425 shares in the company, valued at $3,544,365.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Marshall Mohr sold 108,790 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $385.08, for a total transaction of $41,892,853.20. Following the completion of the transaction, the vice president now directly owns 26,877 shares of the company’s stock, valued at approximately $10,349,795.16. The disclosure for this sale can be found here. Insiders sold a total of 248,418 shares of company stock worth $95,927,097 over the last 90 days. Corporate insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ISRG. Portside Wealth Group LLC lifted its stake in Intuitive Surgical by 8.2% in the fourth quarter. Portside Wealth Group LLC now owns 816 shares of the medical equipment provider’s stock worth $275,000 after purchasing an additional 62 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in Intuitive Surgical by 58.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 8,315 shares of the medical equipment provider’s stock worth $2,805,000 after purchasing an additional 3,054 shares during the last quarter. Kades & Cheifetz LLC bought a new stake in Intuitive Surgical in the fourth quarter worth about $230,000. Blair William & Co. IL lifted its stake in Intuitive Surgical by 3.1% in the third quarter. Blair William & Co. IL now owns 377,371 shares of the medical equipment provider’s stock worth $110,302,000 after purchasing an additional 11,400 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Intuitive Surgical by 21.2% in the third quarter. Assenagon Asset Management S.A. now owns 739,471 shares of the medical equipment provider’s stock worth $216,140,000 after purchasing an additional 129,194 shares during the last quarter. Institutional investors own 83.64% of the company’s stock.

About Intuitive Surgical

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.