Intuitive Surgical (NASDAQ:ISRG) Price Target Raised to $687.00

Intuitive Surgical (NASDAQ:ISRG) had its price objective raised by equities researchers at Wells Fargo & Company from $630.00 to $687.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical equipment provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 17.63% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Evercore ISI reaffirmed a “cautious” rating on shares of Intuitive Surgical in a research note on Friday, October 18th. Piper Sandler reaffirmed an “overweight” rating and set a $538.00 price objective (up previously from $495.00) on shares of Intuitive Surgical in a report on Friday, October 18th. The Goldman Sachs Group set a $604.00 target price on Intuitive Surgical in a research report on Friday, October 18th. BTIG Research raised their price target on Intuitive Surgical from $535.00 to $561.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Morgan Stanley raised Intuitive Surgical from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $522.00 to $650.00 in a report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $583.83.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG opened at $584.05 on Friday. The business has a fifty day moving average of $547.16 and a 200-day moving average of $504.35. Intuitive Surgical has a twelve month low of $364.17 and a twelve month high of $616.00. The firm has a market cap of $208.03 billion, a PE ratio of 93.90, a price-to-earnings-growth ratio of 5.19 and a beta of 1.39.

Insider Activity

In other Intuitive Surgical news, CFO Jamie Samath sold 108 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $542.06, for a total value of $58,542.48. Following the completion of the sale, the chief financial officer now owns 8,757 shares of the company’s stock, valued at $4,746,819.42. The trade was a 1.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gary S. Guthart sold 18,151 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $511.63, for a total transaction of $9,286,596.13. Following the transaction, the chief executive officer now directly owns 24,219 shares in the company, valued at $12,391,166.97. This represents a 42.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,475 shares of company stock valued at $22,070,807 over the last ninety days. 0.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intuitive Surgical

Large investors have recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in shares of Intuitive Surgical by 1.4% during the 3rd quarter. State Street Corp now owns 15,050,121 shares of the medical equipment provider’s stock worth $7,393,673,000 after purchasing an additional 210,363 shares in the last quarter. FMR LLC lifted its position in Intuitive Surgical by 8.3% during the third quarter. FMR LLC now owns 10,971,085 shares of the medical equipment provider’s stock worth $5,389,765,000 after purchasing an additional 838,793 shares during the period. Geode Capital Management LLC grew its stake in Intuitive Surgical by 1.9% during the third quarter. Geode Capital Management LLC now owns 7,512,925 shares of the medical equipment provider’s stock worth $3,677,194,000 after buying an additional 143,440 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Intuitive Surgical by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 4,782,381 shares of the medical equipment provider’s stock valued at $2,349,441,000 after buying an additional 86,208 shares during the period. Finally, Baillie Gifford & Co. raised its position in shares of Intuitive Surgical by 0.6% in the 3rd quarter. Baillie Gifford & Co. now owns 3,848,547 shares of the medical equipment provider’s stock valued at $1,890,676,000 after buying an additional 24,183 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

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.