Intuitive Surgical (NASDAQ:ISRG) Given New $650.00 Price Target at Truist Financial

Intuitive Surgical (NASDAQ:ISRG) had its price objective lifted by Truist Financial from $620.00 to $650.00 in a research report report published on Thursday morning, Marketbeat reports. Truist Financial currently has a buy rating on the medical equipment provider’s stock.

A number of other equities research analysts also recently commented on the company. UBS Group set a $600.00 price objective on Intuitive Surgical and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Zacks Research upgraded Intuitive Surgical from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 24th. Jefferies Financial Group boosted their price objective on Intuitive Surgical from $550.00 to $560.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Robert W. Baird set a $655.00 target price on shares of Intuitive Surgical in a report on Wednesday, October 22nd. Finally, Evercore ISI lifted their target price on shares of Intuitive Surgical from $450.00 to $540.00 in a research report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and a consensus target price of $611.08.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG opened at $561.89 on Thursday. The business’s 50-day simple moving average is $538.62 and its 200 day simple moving average is $506.16. The company has a market cap of $201.43 billion, a P/E ratio of 74.32, a PEG ratio of 5.12 and a beta of 1.68. Intuitive Surgical has a one year low of $425.00 and a one year high of $616.00.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the prior year, the company posted $1.84 earnings per share. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. Analysts predict that Intuitive Surgical will post 6.43 earnings per share for the current year.

Insiders Place Their Bets

In other Intuitive Surgical news, insider Gary S. Guthart sold 28,800 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $547.56, for a total value of $15,769,728.00. Following the transaction, the insider directly owned 27,027 shares of the company’s stock, valued at $14,798,904.12. This represents a 51.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Mark Brosius sold 4,500 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $547.36, for a total value of $2,463,120.00. Following the sale, the senior vice president directly owned 907 shares of the company’s stock, valued at $496,455.52. This trade represents a 83.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 114,007 shares of company stock valued at $63,533,844 in the last three months. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Intuitive Surgical

A number of hedge funds have recently added to or reduced their stakes in ISRG. Norway Savings Bank increased its stake in shares of Intuitive Surgical by 53.4% in the second quarter. Norway Savings Bank now owns 2,613 shares of the medical equipment provider’s stock valued at $1,420,000 after buying an additional 910 shares during the period. Trust Co. of Oklahoma acquired a new position in Intuitive Surgical in the 2nd quarter valued at approximately $363,000. IronOak Wealth LLC. bought a new position in shares of Intuitive Surgical during the second quarter valued at $1,099,000. Eastover Investment Advisors LLC lifted its holdings in shares of Intuitive Surgical by 204.8% during the second quarter. Eastover Investment Advisors LLC now owns 13,163 shares of the medical equipment provider’s stock worth $7,153,000 after purchasing an additional 8,844 shares during the period. Finally, Amalgamated Bank grew its stake in shares of Intuitive Surgical by 2.2% in the second quarter. Amalgamated Bank now owns 81,542 shares of the medical equipment provider’s stock worth $44,311,000 after purchasing an additional 1,772 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Intuitive Surgical Company Profile

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.