Short Interest in Intuitive Surgical, Inc. (NASDAQ:ISRG) Increases By 8.5%

Intuitive Surgical, Inc. (NASDAQ:ISRG) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 3,850,000 shares, a growth of 8.5% from the October 15th total of 3,550,000 shares. Based on an average trading volume of 1,200,000 shares, the short-interest ratio is presently 3.2 days.

Intuitive Surgical Trading Down 1.9 %

Shares of ISRG stock opened at $527.61 on Monday. The business’s 50-day moving average price is $499.29 and its 200-day moving average price is $458.50. Intuitive Surgical has a 12 month low of $295.02 and a 12 month high of $544.38. The firm has a market capitalization of $187.92 billion, a price-to-earnings ratio of 84.82, a PEG ratio of 5.19 and a beta of 1.39.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.32. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.01 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 13.41%. On average, sell-side analysts predict that Intuitive Surgical will post 5.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ISRG has been the subject of several recent research reports. Mizuho boosted their price target on Intuitive Surgical from $440.00 to $500.00 in a research note on Thursday, October 17th. Piper Sandler reiterated an “overweight” rating and set a $538.00 target price (up from $495.00) on shares of Intuitive Surgical in a research report on Friday, October 18th. Leerink Partners raised their price target on Intuitive Surgical from $489.00 to $502.00 in a research report on Thursday, October 17th. Truist Financial upped their price objective on shares of Intuitive Surgical from $520.00 to $570.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, The Goldman Sachs Group set a $604.00 target price on shares of Intuitive Surgical in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen 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 $524.61.

Insiders Place Their Bets

In related news, SVP Henry L. Charlton sold 40,243 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $486.84, for a total transaction 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 trade represents a 93.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert Desantis sold 188 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $482.21, for a total transaction 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. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 91,178 shares of company stock worth $45,897,071 over the last three months. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Creekmur Asset Management LLC increased its position in Intuitive Surgical by 200.0% during the 1st quarter. Creekmur Asset Management LLC now owns 63 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 42 shares during the period. Ridgewood Investments LLC acquired a new stake in shares of Intuitive Surgical during the second quarter worth $26,000. Godsey & Gibb Inc. raised its stake in Intuitive Surgical by 140.0% during the third quarter. Godsey & Gibb Inc. now owns 60 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 35 shares during the last quarter. LRI Investments LLC acquired a new position in Intuitive Surgical in the first quarter valued at $30,000. Finally, LGT Financial Advisors LLC lifted its holdings in Intuitive Surgical by 415.4% in the second quarter. LGT Financial Advisors LLC now owns 67 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 54 shares during the period. 83.64% of the stock is owned by 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.