Intuitive Surgical (NASDAQ:ISRG) Shares Down 0.8%

Intuitive Surgical, Inc. (NASDAQ:ISRG) shares traded down 0.8% during trading on Thursday . The company traded as low as $468.46 and last traded at $478.10. 250,300 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 1,512,004 shares. The stock had previously closed at $481.73.

Analysts Set New Price Targets

ISRG has been the subject of several analyst reports. Barclays upped their price target on shares of Intuitive Surgical from $430.00 to $490.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. The Goldman Sachs Group started coverage on shares of Intuitive Surgical in a report on Thursday, May 30th. They issued a “buy” rating and a $500.00 price objective for the company. Piper Sandler raised their target price on shares of Intuitive Surgical from $490.00 to $495.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Redburn Atlantic raised shares of Intuitive Surgical from a “neutral” rating to a “buy” rating and raised their price target for the company from $380.00 to $510.00 in a research report on Friday, August 2nd. Finally, Morgan Stanley lifted their target price on shares of Intuitive Surgical from $375.00 to $460.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intuitive Surgical has an average rating of “Moderate Buy” and a consensus price target of $446.45.

Intuitive Surgical Stock Down 1.0 %

The stock has a market cap of $167.35 billion, a PE ratio of 85.17, a price-to-earnings-growth ratio of 5.43 and a beta of 1.39. The company’s fifty day moving average is $458.74 and its 200 day moving average is $417.98.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Thursday, July 18th. The medical equipment provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.24. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.97 billion. Intuitive Surgical had a net margin of 27.65% and a return on equity of 13.04%. The business’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.18 earnings per share. Equities analysts expect that Intuitive Surgical, Inc. will post 5.22 EPS for the current year.

Insider Activity at Intuitive Surgical

In other news, EVP Robert Desantis sold 188 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $482.21, for a total value of $90,655.48. Following the completion of the sale, the executive vice president now directly owns 5,506 shares of the company’s stock, valued at $2,655,048.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Henry L. Charlton sold 40,243 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $486.84, for a total value of $19,591,902.12. Following the completion of the transaction, the senior vice president now directly owns 3,001 shares of the company’s stock, valued at $1,461,006.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Robert Desantis sold 188 shares of Intuitive Surgical stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $482.21, for a total value of $90,655.48. Following the transaction, the executive vice president now directly owns 5,506 shares of the company’s stock, valued at $2,655,048.26. The disclosure for this sale can be found here. Insiders have sold a total of 51,656 shares of company stock worth $24,700,644 over the last ninety days. 0.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Intuitive Surgical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new position in shares of Intuitive Surgical during the 2nd quarter valued at about $22,957,000. Clear Rock Advisors LLC acquired a new position in shares of Intuitive Surgical during the 2nd quarter worth approximately $216,000. Sycomore Asset Management increased its position in shares of Intuitive Surgical by 28.6% during the 2nd quarter. Sycomore Asset Management now owns 9,120 shares of the medical equipment provider’s stock worth $4,036,000 after purchasing an additional 2,027 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Intuitive Surgical by 1.6% during the 2nd quarter. Clearbridge Investments LLC now owns 1,981,297 shares of the medical equipment provider’s stock worth $881,380,000 after acquiring an additional 30,449 shares during the last quarter. Finally, Dana Investment Advisors Inc. increased its holdings in shares of Intuitive Surgical by 5.0% during the 2nd quarter. Dana Investment Advisors Inc. now owns 1,904 shares of the medical equipment provider’s stock worth $847,000 after acquiring an additional 90 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

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.