Short Interest in Intuitive Surgical, Inc. (NASDAQ:ISRG) Expands By 8.2%

Intuitive Surgical, Inc. (NASDAQ:ISRGGet Free Report) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 3,570,000 shares, an increase of 8.2% from the February 29th total of 3,300,000 shares. Based on an average daily trading volume, of 1,630,000 shares, the days-to-cover ratio is presently 2.2 days.

Insider Activity

In other Intuitive Surgical news, VP Fredrik Widman sold 5,041 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $397.07, for a total value of $2,001,629.87. Following the completion of the sale, the vice president now owns 110 shares of the company’s stock, valued at $43,677.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Robert Desantis sold 20,296 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $393.80, for a total transaction of $7,992,564.80. Following the completion of the transaction, the executive vice president now directly owns 5,507 shares in the company, valued at approximately $2,168,656.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Fredrik Widman sold 5,041 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $397.07, for a total transaction of $2,001,629.87. Following the completion of the sale, the vice president now directly owns 110 shares in the company, valued at $43,677.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 248,418 shares of company stock worth $95,927,097. 0.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intuitive Surgical

A number of hedge funds have recently modified their holdings of ISRG. RB Capital Management LLC grew its stake in shares of Intuitive Surgical by 4.4% in the 1st quarter. RB Capital Management LLC now owns 1,735 shares of the medical equipment provider’s stock valued at $523,000 after buying an additional 73 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Intuitive Surgical by 0.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 946,709 shares of the medical equipment provider’s stock valued at $285,603,000 after acquiring an additional 5,233 shares during the last quarter. Baird Financial Group Inc. grew its position in Intuitive Surgical by 2.3% in the first quarter. Baird Financial Group Inc. now owns 21,089 shares of the medical equipment provider’s stock worth $6,362,000 after acquiring an additional 481 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of Intuitive Surgical by 576.7% during the 1st quarter. Brown Brothers Harriman & Co. now owns 406 shares of the medical equipment provider’s stock worth $122,000 after purchasing an additional 346 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of Intuitive Surgical by 50.4% during the 1st quarter. Covestor Ltd now owns 418 shares of the medical equipment provider’s stock worth $126,000 after purchasing an additional 140 shares during the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Intuitive Surgical Trading Down 3.2 %

Shares of ISRG stock opened at $382.36 on Wednesday. The stock’s fifty day simple moving average is $386.60 and its 200-day simple moving average is $335.05. The company has a market capitalization of $135.53 billion, a price-to-earnings ratio of 76.02, a P/E/G ratio of 6.13 and a beta of 1.36. Intuitive Surgical has a 1-year low of $250.01 and a 1-year high of $403.76.

Intuitive Surgical (NASDAQ:ISRGGet Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The medical equipment provider reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.12. Intuitive Surgical had a net margin of 25.24% and a return on equity of 13.11%. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the firm earned $0.91 earnings per share. The firm’s revenue was up 16.6% compared to the same quarter last year. On average, sell-side analysts predict that Intuitive Surgical will post 4.93 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on ISRG. Royal Bank of Canada boosted their price objective on Intuitive Surgical from $400.00 to $432.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Piper Sandler increased their target price on shares of Intuitive Surgical from $325.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Stifel Nicolaus reaffirmed a “buy” rating and set a $420.00 price objective on shares of Intuitive Surgical in a research report on Friday, March 15th. Truist Financial upped their target price on Intuitive Surgical from $390.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Finally, Mizuho increased their target price on Intuitive Surgical from $350.00 to $390.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $371.60.

Get Our Latest Report on ISRG

Intuitive Surgical Company Profile

(Get Free Report)

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.

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