Intuitive Surgical (NASDAQ:ISRG) Price Target Raised to $560.00

Intuitive Surgical (NASDAQ:ISRG) had its price target lifted by Jefferies Financial Group from $550.00 to $560.00 in a research note issued to investors on Wednesday morning,MarketScreener reports. They currently have a hold rating on the medical equipment provider’s stock.

A number of other research analysts have also issued reports on ISRG. Evercore ISI reduced their target price on shares of Intuitive Surgical from $535.00 to $450.00 and set an “in-line” rating on the stock in a report on Tuesday, October 7th. Robert W. Baird set a $655.00 price objective on shares of Intuitive Surgical in a research note on Wednesday. Raymond James Financial set a $603.00 price objective on shares of Intuitive Surgical and gave the company an “outperform” rating in a research note on Wednesday. Leerink Partners upped their price objective on shares of Intuitive Surgical from $593.00 to $600.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Wall Street Zen downgraded shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $602.32.

Intuitive Surgical Stock Down 0.9%

Intuitive Surgical stock opened at $546.51 on Wednesday. Intuitive Surgical has a 52 week low of $425.00 and a 52 week high of $616.00. The firm’s 50-day simple moving average is $458.09 and its 200 day simple moving average is $497.02. The firm has a market capitalization of $195.91 billion, a PE ratio of 72.29, a P/E/G ratio of 5.50 and a beta of 1.61.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Tuesday, October 21st. The medical equipment provider reported $2.40 EPS for the quarter, topping the consensus estimate of $1.99 by $0.41. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the firm earned $1.84 EPS. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. On average, research analysts expect that Intuitive Surgical will post 6.43 EPS for the current fiscal year.

Insider Buying and Selling at Intuitive Surgical

In related news, insider Gary S. Guthart sold 29,360 shares of the firm’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the transaction, the insider directly owned 19,827 shares in the company, valued at $9,368,059.23. This trade represents a 59.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amy L. Ladd sold 336 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $470.11, for a total value of $157,956.96. Following the transaction, the director owned 1,074 shares in the company, valued at $504,898.14. This trade represents a 23.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,724 shares of company stock worth $19,500,332 over the last 90 days. 0.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intuitive Surgical

A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Intuitive Surgical during the second quarter valued at about $2,569,260,000. Nuveen LLC bought a new stake in shares of Intuitive Surgical during the first quarter valued at about $1,715,899,000. Vanguard Group Inc. raised its stake in shares of Intuitive Surgical by 2.1% during the second quarter. Vanguard Group Inc. now owns 33,335,833 shares of the medical equipment provider’s stock valued at $18,115,025,000 after purchasing an additional 670,302 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Intuitive Surgical by 26.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,819,666 shares of the medical equipment provider’s stock valued at $1,396,496,000 after purchasing an additional 584,375 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Intuitive Surgical by 20.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,393,951 shares of the medical equipment provider’s stock worth $1,680,922,000 after acquiring an additional 566,979 shares during the period. 83.64% of the stock is currently 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.