Investors are always on the lookout for the next stock split -- for a couple of reasons. These operations that increase the number of shares and reduce the per-share price accordingly often make it easier to invest in a high-flying stock. And they also generally signal that management is confident about a company's future, with the idea that the stock has what it takes to soar once again from its new lower price.

How do you identify the next potential stock-split company? It's generally one that's seen its stock soar in recent times, and sometimes these players have split their stock in the past, showing they're amenable to such operations.

Today, one that could be next on the list is Intuitive Surgical (NASDAQ: ISRG), the world's leading robotic surgery company. Intuitive Surgical's shares have climbed nearly 200% over the past five years and now trade for about $600 apiece. But is Intuitive Surgical really ripe for a stock split? Let's find out.

First, though, let's talk a bit about stock splits in general. As mentioned, they're meant to lower a per-share price, and they do this through the issuance of more shares to current holders. So in a 10-for-1 split, for example, an investor who had one share prior to the split would hold 10 after the split.

The operation doesn't change the total value of your investment, though, or anything fundamental about a company. So, investors shouldn't buy or sell a stock just because it completed a stock split. But these maneuvers are positive because they make a stock once trading for hundreds or even thousands of dollars easier for a broader range of investors to access at a lower price point. Even though fractional shares exist, not all brokerages offer them, putting higher-priced stocks out of reach for some investors.

And certain price levels, such as around $1,000 per share, may represent a psychological barrier for some investors -- they may view the stock as expensive even though valuation looks just fine.

Now, let's consider the case for an Intuitive Surgical stock split. The company has split its stock three times before -- in 2003, 2017, and 2021. So, we know that Intuitive Surgical considers such an operation useful. There were only four years between the last two operations, and if Intuitive Surgical keeps that pace going, it may announce a split this year.

That said, Intuitive Surgical launched its last two splits after shares soared to more than $1,000. Today, they're a little more than halfway there. This suggests the company might not rush into a split to lower its price just yet, even if it's optimistic about what's ahead. Instead, Intuitive Surgical may wait to see how the stock progresses this year -- it's already climbed about 15% since the start of January.