Morgan Stanley Upgrades Intuitive Surgical (NASDAQ:ISRG) to “Overweight”

Intuitive Surgical (NASDAQ:ISRG) was upgraded by stock analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Monday, Marketbeat reports. The brokerage currently has a $650.00 price target on the medical equipment provider’s stock, up from their previous price target of $522.00. Morgan Stanley’s price target points to a potential upside of 19.99% from the stock’s current price.

Several other research firms have also issued reports on ISRG. Evercore ISI reaffirmed a “cautious” rating on shares of Intuitive Surgical in a report on Friday, October 18th. Truist Financial increased their price target on Intuitive Surgical from $520.00 to $570.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Stifel Nicolaus boosted their price target on Intuitive Surgical from $475.00 to $525.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Mizuho increased their price objective on shares of Intuitive Surgical from $440.00 to $500.00 in a research report on Thursday, October 17th. Finally, Erste Group Bank upgraded shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $536.61.

Intuitive Surgical Stock Down 0.2 %

Intuitive Surgical stock opened at $541.71 on Monday. Intuitive Surgical has a twelve month low of $304.50 and a twelve month high of $552.00. The business has a fifty day moving average of $512.25 and a two-hundred day moving average of $471.53. The firm has a market cap of $192.95 billion, a P/E ratio of 87.09, a P/E/G ratio of 5.34 and a beta of 1.38.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.32. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.01 billion. Intuitive Surgical had a return on equity of 13.41% and a net margin of 28.51%. Equities analysts expect that Intuitive Surgical will post 5.45 earnings per share for the current year.

Insider Transactions at Intuitive Surgical

In other Intuitive Surgical news, CFO Jamie Samath sold 188 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $539.00, for a total value of $101,332.00. Following the completion of the sale, the chief financial officer now directly owns 8,757 shares in the company, valued at $4,720,023. This represents a 2.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert Desantis sold 376 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $539.00, for a total transaction of $202,664.00. Following the completion of the sale, the executive vice president now directly owns 5,506 shares of the company’s stock, valued at approximately $2,967,734. This trade represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,023 shares of company stock valued at $26,384,247 over the last 90 days. Corporate insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA acquired a new stake in Intuitive Surgical in the 3rd quarter valued at about $558,807,000. International Assets Investment Management LLC lifted its holdings in shares of Intuitive Surgical by 49,383.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,090,619 shares of the medical equipment provider’s stock valued at $535,788,000 after purchasing an additional 1,088,415 shares during the last quarter. FMR LLC grew its stake in Intuitive Surgical by 8.3% during the 3rd quarter. FMR LLC now owns 10,971,085 shares of the medical equipment provider’s stock worth $5,389,765,000 after buying an additional 838,793 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in shares of Intuitive Surgical by 15,322.2% during the third quarter. Wilmington Savings Fund Society FSB now owns 555,661 shares of the medical equipment provider’s stock worth $272,980,000 after acquiring an additional 552,058 shares during the last quarter. Finally, Strategic Financial Concepts LLC increased its holdings in shares of Intuitive Surgical by 40,221.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 266,121 shares of the medical equipment provider’s stock valued at $1,184,000 after acquiring an additional 265,461 shares during the period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

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.