Intuitive Surgical (NASDAQ:ISRG) Price Target Raised to $688.00 at Raymond James

Intuitive Surgical (NASDAQ:ISRG) had its price target lifted by Raymond James from $560.00 to $688.00 in a report issued on Friday,Benzinga reports. The firm currently has an outperform rating on the medical equipment provider’s stock.

A number of other analysts have also recently commented on the stock. The Goldman Sachs Group set a $604.00 target price on shares of Intuitive Surgical in a research note on Friday, October 18th. Leerink Partners increased their target price on Intuitive Surgical from $489.00 to $502.00 in a report on Thursday, October 17th. Truist Financial lifted their price target on Intuitive Surgical from $570.00 to $640.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Royal Bank of Canada increased their price objective on Intuitive Surgical from $525.00 to $555.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Finally, BTIG Research lifted their target price on shares of Intuitive Surgical from $535.00 to $561.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Intuitive Surgical currently has a consensus rating of “Moderate Buy” and a consensus target price of $583.83.

Intuitive Surgical Price Performance

Shares of ISRG stock opened at $584.05 on Friday. The stock has a 50 day simple moving average of $546.03 and a 200-day simple moving average of $503.38. Intuitive Surgical has a 1-year low of $364.17 and a 1-year high of $616.00. The company has a market cap of $208.03 billion, a price-to-earnings ratio of 93.90, a PEG ratio of 5.19 and a beta of 1.39.

Insider Activity at Intuitive Surgical

In related news, insider Jamie Samath sold 22,903 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $525.00, for a total transaction of $12,024,075.00. Following the sale, the insider now directly owns 8,757 shares of the company’s stock, valued at $4,597,425. This represents a 72.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gary S. Guthart sold 18,151 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $511.63, for a total transaction of $9,286,596.13. Following the completion of the transaction, the chief executive officer now directly owns 24,219 shares of the company’s stock, valued at $12,391,166.97. This represents a 42.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,475 shares of company stock worth $22,070,807. 0.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intuitive Surgical

A number of hedge funds and other institutional investors have recently modified their holdings of ISRG. AQR Capital Management LLC lifted its stake in Intuitive Surgical by 12.6% during the second quarter. AQR Capital Management LLC now owns 42,691 shares of the medical equipment provider’s stock worth $18,958,000 after purchasing an additional 4,775 shares during the last quarter. APG Asset Management N.V. lifted its position in shares of Intuitive Surgical by 3.4% during the 2nd quarter. APG Asset Management N.V. now owns 234,279 shares of the medical equipment provider’s stock worth $97,242,000 after buying an additional 7,648 shares during the last quarter. Daymark Wealth Partners LLC boosted its holdings in shares of Intuitive Surgical by 3.6% in the 2nd quarter. Daymark Wealth Partners LLC now owns 7,003 shares of the medical equipment provider’s stock valued at $3,115,000 after buying an additional 246 shares in the last quarter. MBB Public Markets I LLC grew its position in shares of Intuitive Surgical by 1,739.6% in the 2nd quarter. MBB Public Markets I LLC now owns 25,129 shares of the medical equipment provider’s stock valued at $11,179,000 after buying an additional 23,763 shares during the last quarter. Finally, Mark Asset Management LP increased its position in shares of Intuitive Surgical by 0.3% during the second quarter. Mark Asset Management LP now owns 29,067 shares of the medical equipment provider’s stock worth $12,930,000 after purchasing an additional 77 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

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.