Intuitive Surgical (NASDAQ:ISRG) Stock Price Expected to Rise, Truist Financial Analyst Says

Intuitive Surgical (NASDAQ:ISRG) had its price objective upped by research analysts at Truist Financial from $620.00 to $650.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the medical equipment provider’s stock. Truist Financial’s price objective would indicate a potential upside of 15.48% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Robert W. Baird set a $655.00 price target on Intuitive Surgical in a research note on Wednesday, October 22nd. Weiss Ratings restated a “hold (c+)” rating on shares of Intuitive Surgical in a research note on Monday. UBS Group set a $600.00 target price on shares of Intuitive Surgical and gave the company a “neutral” rating in a report on Thursday, October 23rd. Royal Bank Of Canada increased their price target on shares of Intuitive Surgical from $625.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Rothschild & Co Redburn lifted their price objective on Intuitive Surgical from $610.00 to $615.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Two 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $611.08.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG traded up $5.99 during trading on Thursday, hitting $562.85. 81,346 shares of the company were exchanged, compared to its average volume of 2,076,956. The firm’s 50 day moving average price is $536.26 and its 200-day moving average price is $505.77. The stock has a market capitalization of $201.77 billion, a P/E ratio of 74.31, a PEG ratio of 5.10 and a beta of 1.68. Intuitive Surgical has a 12-month low of $425.00 and a 12-month high of $616.00.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the company earned $1.84 earnings per share. Intuitive Surgical’s quarterly revenue was up 22.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Intuitive Surgical will post 6.43 EPS for the current year.

Insider Buying and Selling

In other news, EVP Myriam Curet sold 104 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $559.90, for a total value of $58,229.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mark Brosius sold 464 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $548.49, for a total transaction of $254,499.36. Following the completion of the sale, the senior vice president owned 131 shares in the company, valued at $71,852.19. This represents a 77.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 114,007 shares of company stock valued at $63,533,844 in the last three months. 0.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Intuitive Surgical by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 33,599,661 shares of the medical equipment provider’s stock worth $15,026,776,000 after purchasing an additional 263,828 shares during the last quarter. State Street Corp boosted its position in Intuitive Surgical by 1.2% during the second quarter. State Street Corp now owns 15,552,203 shares of the medical equipment provider’s stock worth $8,451,223,000 after acquiring an additional 182,871 shares during the last quarter. Geode Capital Management LLC raised its holdings in Intuitive Surgical by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 8,188,685 shares of the medical equipment provider’s stock valued at $4,429,590,000 after acquiring an additional 109,904 shares during the last quarter. Capital World Investors raised its holdings in Intuitive Surgical by 1.5% in the 3rd quarter. Capital World Investors now owns 7,728,492 shares of the medical equipment provider’s stock valued at $3,456,223,000 after acquiring an additional 116,034 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Intuitive Surgical during the 2nd quarter worth $2,569,260,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

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.