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

Intuitive Surgical (NASDAQ:ISRG) had its price target lifted by equities research analysts at Citigroup from $512.00 to $560.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. Citigroup’s price objective suggests a potential upside of 14.31% from the stock’s current price.

A number of other research analysts have also recently commented on ISRG. BTIG Research raised their price target on shares of Intuitive Surgical from $451.00 to $459.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Barclays increased their price target on Intuitive Surgical from $430.00 to $490.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Evercore ISI cut their price objective on Intuitive Surgical from $425.00 to $410.00 and set an “in-line” rating for the company in a research report on Friday, July 19th. Redburn Atlantic upgraded Intuitive Surgical from a “neutral” rating to a “buy” rating and increased their target price for the stock from $380.00 to $510.00 in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their target price on Intuitive Surgical from $475.00 to $495.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Intuitive Surgical currently has a consensus rating of “Moderate Buy” and a consensus price target of $444.70.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG traded up $2.46 during midday trading on Thursday, hitting $489.88. The company’s stock had a trading volume of 361,049 shares, compared to its average volume of 1,534,336. The stock has a market capitalization of $173.76 billion, a price-to-earnings ratio of 88.43, a PEG ratio of 4.97 and a beta of 1.39. The stock’s 50 day simple moving average is $446.95 and its 200 day simple moving average is $409.81. Intuitive Surgical has a fifty-two week low of $254.85 and a fifty-two week high of $491.83.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Thursday, July 18th. The medical equipment provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.24. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Intuitive Surgical had a net margin of 27.65% and a return on equity of 13.04%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.18 earnings per share. As a group, analysts anticipate that Intuitive Surgical will post 5.22 EPS for the current year.

Insider Activity at Intuitive Surgical

In related news, Director Craig H. Barratt sold 2,496 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $402.89, for a total value of $1,005,613.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Craig H. Barratt sold 2,496 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $402.89, for a total value of $1,005,613.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Amal M. Johnson sold 2,943 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $443.30, for a total transaction of $1,304,631.90. Following the completion of the transaction, the director now owns 12,275 shares in the company, valued at $5,441,507.50. The disclosure for this sale can be found here. Insiders have sold 15,309 shares of company stock worth $6,642,470 over the last ninety days. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Intuitive Surgical

Several hedge funds have recently bought and sold shares of ISRG. Norges Bank acquired a new stake in Intuitive Surgical in the fourth quarter worth $1,313,238,000. Capital Research Global Investors bought a new stake in shares of Intuitive Surgical during the first quarter worth $374,390,000. Assenagon Asset Management S.A. increased its position in shares of Intuitive Surgical by 111.7% during the first quarter. Assenagon Asset Management S.A. now owns 1,285,565 shares of the medical equipment provider’s stock worth $513,056,000 after acquiring an additional 678,375 shares in the last quarter. Coatue Management LLC increased its position in shares of Intuitive Surgical by 65.7% during the fourth quarter. Coatue Management LLC now owns 1,301,595 shares of the medical equipment provider’s stock worth $439,106,000 after acquiring an additional 516,054 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Intuitive Surgical by 1.6% during the first quarter. Vanguard Group Inc. now owns 30,868,620 shares of the medical equipment provider’s stock worth $12,319,358,000 after acquiring an additional 493,126 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

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.