Intuitive Surgical, Inc. (NASDAQ:ISRG) has garnered a consensus recommendation of “Moderate Buy” from analysts, who have set an average price target of $608.92. This analysis, as reported by Marketbeat.com, reflects the insights of twenty-nine financial experts currently covering the company. The recommendations include one sell rating, seven holds, nineteen buys, and two strong buys.
Strong interest in Intuitive Surgical is evident, with several research firms recently adjusting their price targets. The Royal Bank of Canada established a price objective of $625.00, issuing an “outperform” rating on October 22, 2023. Following closely, Evercore ISI raised their target from $450.00 to $540.00 on the same day. Furthermore, Sanford C. Bernstein reiterated an “outperform” rating with a target of $685.00, while HSBC increased its target to $644.00 and rated the stock as a buy.
Institutional Investment Trends
Recent activity among institutional investors indicates a growing confidence in Intuitive Surgical. Tobam significantly increased its stake by 666.7% during the second quarter, now holding 46 shares valued at approximately $25,000. Similarly, Kilter Group LLC and Greykasell Wealth Strategies Inc. each acquired new stakes valued around $27,000. Notably, hedge funds and institutional investors collectively own 83.64% of the company’s stock, reflecting strong institutional backing.
Performance and Financial Highlights
As of Friday, October 21, 2023, shares of ISRG opened at $578.87. The company has a fifty-day moving average of $497.66 and a two-hundred-day moving average of $504.41. Over the past year, the stock has seen a low of $425.00 and a high of $616.00, contributing to a market capitalization of $207.51 billion.
In its most recent earnings announcement on October 21, 2023, Intuitive Surgical reported earnings per share (EPS) of $2.40, surpassing analysts’ expectations of $1.99 by $0.41. The company also posted a revenue of $2.51 billion for the quarter, exceeding the projected $2.41 billion and reflecting a year-over-year revenue increase of 22.9%. Analysts predict that Intuitive Surgical will achieve an EPS of 6.43 for the current fiscal year.
Intuitive Surgical, headquartered in the United States, designs and manufactures products that improve the quality and accessibility of minimally invasive surgical care. Its flagship product, the da Vinci Surgical System, allows for complex surgeries through minimally invasive techniques. Additionally, the company offers the Ion endoluminal system, which enables diagnostic procedures, including minimally invasive biopsies in the lung.
Investors and analysts alike are closely monitoring Intuitive Surgical’s performance as it navigates the evolving healthcare landscape.
