Intuitive Surgical (NASDAQ:ISRG) Given New $300.00 Price Target at Morgan Stanley

Intuitive Surgical (NASDAQ:ISRGGet Rating) had its price objective decreased by stock analysts at Morgan Stanley from $325.00 to $300.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the medical equipment provider’s stock. Morgan Stanley’s price target suggests a potential upside of 18.13% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Evercore ISI lowered their price target on shares of Intuitive Surgical from $294.00 to $280.00 in a report on Friday. Royal Bank of Canada initiated coverage on shares of Intuitive Surgical in a research report on Friday, March 25th. They set an “outperform” rating and a $340.00 price objective on the stock. Raymond James reduced their price objective on shares of Intuitive Surgical from $334.00 to $330.00 and set an “outperform” rating on the stock in a research report on Friday. Truist Financial initiated coverage on shares of Intuitive Surgical in a research report on Tuesday, April 12th. They set a “buy” rating and a $360.00 price objective on the stock. Finally, Piper Sandler lifted their price objective on shares of Intuitive Surgical from $310.00 to $316.00 and gave the company an “overweight” rating in a research report on Friday. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $331.60.

NASDAQ:ISRG traded up $1.62 on Monday, reaching $253.96. 17,522 shares of the stock traded hands, compared to its average volume of 2,129,270. The company has a market capitalization of $91.22 billion, a price-to-earnings ratio of 56.43, a PEG ratio of 7.15 and a beta of 1.17. Intuitive Surgical has a 12 month low of $251.52 and a 12 month high of $369.69. The company’s fifty day simple moving average is $286.58 and its 200 day simple moving average is $314.42.

Intuitive Surgical (NASDAQ:ISRGGet Rating) last announced its quarterly earnings results on Thursday, April 21st. The medical equipment provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.43 billion. Intuitive Surgical had a net margin of 27.84% and a return on equity of 14.38%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.17 EPS. As a group, research analysts predict that Intuitive Surgical will post 4.12 EPS for the current fiscal year.

In related news, EVP Myriam Curet sold 2,478 shares of the company’s stock in a transaction dated Wednesday, February 16th. The shares were sold at an average price of $289.00, for a total value of $716,142.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert Desantis sold 1,410 shares of the company’s stock in a transaction dated Tuesday, January 25th. The stock was sold at an average price of $261.64, for a total transaction of $368,912.40. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Intuitive Surgical by 197.3% in the 4th quarter. BlackRock Inc. now owns 26,538,660 shares of the medical equipment provider’s stock valued at $9,535,341,000 after buying an additional 17,612,768 shares in the last quarter. State Street Corp boosted its holdings in shares of Intuitive Surgical by 209.4% in the 4th quarter. State Street Corp now owns 14,834,746 shares of the medical equipment provider’s stock valued at $5,330,124,000 after buying an additional 10,040,407 shares in the last quarter. Capital World Investors boosted its holdings in shares of Intuitive Surgical by 165.4% in the 4th quarter. Capital World Investors now owns 9,658,541 shares of the medical equipment provider’s stock valued at $3,470,421,000 after buying an additional 6,018,962 shares in the last quarter. Edgewood Management LLC boosted its holdings in shares of Intuitive Surgical by 200.2% in the 3rd quarter. Edgewood Management LLC now owns 8,528,553 shares of the medical equipment provider’s stock valued at $2,826,220,000 after buying an additional 5,687,456 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Intuitive Surgical by 207.0% in the 4th quarter. Geode Capital Management LLC now owns 6,385,862 shares of the medical equipment provider’s stock valued at $2,288,520,000 after purchasing an additional 4,305,989 shares during the last quarter. Institutional investors and hedge funds own 44.03% of the company’s stock.

About Intuitive Surgical (Get Rating)

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 to enable 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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