Wells Fargo & Company Increases Intuitive Surgical (NASDAQ:ISRG) Price Target to $600.00

Intuitive Surgical (NASDAQ:ISRG) had its price objective upped by investment analysts at Wells Fargo & Company from $599.00 to $600.00 in a report released on Wednesday, MarketBeat.com reports. The brokerage currently has an “overweight” rating on the medical equipment provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 8.83% from the company’s previous close.

A number of other equities research analysts have also issued reports on ISRG. Mizuho dropped their target price on Intuitive Surgical from $570.00 to $520.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Robert W. Baird dropped their target price on Intuitive Surgical from $600.00 to $536.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 15th. Truist Financial dropped their target price on Intuitive Surgical from $600.00 to $525.00 and set a “buy” rating on the stock in a research report on Wednesday, October 15th. Zacks Research lowered Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. Finally, UBS Group set a $529.00 target price on Intuitive Surgical in a research report on Monday, October 13th. Eighteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $604.50.

Intuitive Surgical Price Performance

NASDAQ ISRG opened at $551.30 on Wednesday. The stock’s 50-day moving average is $456.77 and its 200-day moving average is $496.40. Intuitive Surgical has a one year low of $425.00 and a one year high of $616.00. The firm has a market cap of $197.63 billion, a P/E ratio of 72.92, a P/E/G ratio of 5.53 and a beta of 1.61.

Intuitive Surgical (NASDAQ:ISRG) last announced its 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. Intuitive Surgical had a return on equity of 15.08% and a net margin of 28.58%.The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the firm earned $1.84 EPS. Intuitive Surgical’s revenue for the quarter was up 22.9% compared to the same quarter last year. Equities analysts anticipate that Intuitive Surgical will post 6.43 EPS for the current year.

Insider Activity at Intuitive Surgical

In other news, Director Amy L. Ladd sold 336 shares of Intuitive Surgical stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $470.11, for a total transaction of $157,956.96. Following the completion of the transaction, the director directly owned 1,074 shares in the company, valued at approximately $504,898.14. The trade was a 23.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gary S. Guthart sold 29,360 shares of the business’s stock in a transaction on 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 owned 19,827 shares of the company’s stock, valued at $9,368,059.23. This trade represents a 59.69% 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 valued at $19,500,332 over the last quarter. 0.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Intuitive Surgical

Several institutional investors have recently added to or reduced their stakes in ISRG. Brighton Jones LLC boosted its stake in Intuitive Surgical by 24.9% in the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider’s stock valued at $1,916,000 after purchasing an additional 731 shares during the period. GAMMA Investing LLC boosted its stake in Intuitive Surgical by 9.3% in the 1st quarter. GAMMA Investing LLC now owns 6,115 shares of the medical equipment provider’s stock valued at $3,029,000 after purchasing an additional 518 shares during the period. Valmark Advisers Inc. boosted its stake in Intuitive Surgical by 8.9% in the 1st quarter. Valmark Advisers Inc. now owns 982 shares of the medical equipment provider’s stock valued at $486,000 after purchasing an additional 80 shares during the period. Consolidated Portfolio Review Corp bought a new stake in Intuitive Surgical in the 1st quarter valued at $208,000. Finally, International Assets Investment Management LLC boosted its stake in Intuitive Surgical by 14.5% in the 1st quarter. International Assets Investment Management LLC now owns 2,379 shares of the medical equipment provider’s stock valued at $1,178,000 after purchasing an additional 301 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.