Leerink Partners Raises Intuitive Surgical (NASDAQ:ISRG) Price Target to $600.00

Intuitive Surgical (NASDAQ:ISRG) had its price objective hoisted by Leerink Partners from $593.00 to $600.00 in a report issued on Wednesday,MarketScreener reports. The firm currently has an “outperform” rating on the medical equipment provider’s stock. Leerink Partners’ price objective indicates a potential upside of 8.83% from the company’s previous close.

A number of other analysts also recently weighed in 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. Truist Financial reduced their target price on shares of Intuitive Surgical from $600.00 to $525.00 and set a “buy” rating on the stock in a report on Wednesday, October 15th. Wells Fargo & Company boosted their target price on shares of Intuitive Surgical from $559.00 to $599.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. BTIG Research boosted their target price on shares of Intuitive Surgical from $529.00 to $589.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Wall Street Zen downgraded shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Eighteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $604.50.

Intuitive Surgical Stock Performance

ISRG opened at $551.30 on Wednesday. Intuitive Surgical has a fifty-two week low of $425.00 and a fifty-two week high of $616.00. The firm’s fifty day moving average is $456.77 and its 200 day moving average is $496.40. The stock has a market cap of $197.63 billion, a price-to-earnings ratio of 72.92, a price-to-earnings-growth ratio of 5.53 and a beta of 1.61.

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

Insider Activity

In other Intuitive Surgical news, insider Gary S. Guthart sold 29,360 shares of the business’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $472.49, for a total value of $13,872,306.40. Following the completion of the sale, the insider directly owned 19,827 shares of the company’s stock, valued at $9,368,059.23. The trade was a 59.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amy L. Ladd sold 336 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $470.11, for a total transaction of $157,956.96. Following the completion of the sale, the director directly owned 1,074 shares of the company’s stock, valued at approximately $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 a total of 40,724 shares of company stock worth $19,500,332 over the last quarter. 0.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intuitive Surgical

Several large investors have recently added to or reduced their stakes in the stock. Aaron Wealth Advisors LLC boosted its position in Intuitive Surgical by 0.8% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 2,528 shares of the medical equipment provider’s stock valued at $1,374,000 after buying an additional 19 shares during the period. Crown Wealth Group LLC boosted its position in Intuitive Surgical by 4.8% in the 1st quarter. Crown Wealth Group LLC now owns 440 shares of the medical equipment provider’s stock valued at $218,000 after buying an additional 20 shares during the period. FSM Wealth Advisors LLC lifted its position in shares of Intuitive Surgical by 3.8% in the 1st quarter. FSM Wealth Advisors LLC now owns 546 shares of the medical equipment provider’s stock worth $270,000 after purchasing an additional 20 shares during the period. CFO4Life Group LLC lifted its position in shares of Intuitive Surgical by 4.8% in the 1st quarter. CFO4Life Group LLC now owns 436 shares of the medical equipment provider’s stock worth $216,000 after purchasing an additional 20 shares during the period. Finally, J. W. Coons Advisors LLC lifted its position in shares of Intuitive Surgical by 1.4% in the 1st quarter. J. W. Coons Advisors LLC now owns 1,497 shares of the medical equipment provider’s stock worth $741,000 after purchasing an additional 20 shares during the period. 83.64% of the stock is owned by hedge funds and other 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.