Intuitive Surgical (NASDAQ:ISRG) Price Target Raised to $575.00

Intuitive Surgical (NASDAQ:ISRG) had its target price raised by JPMorgan Chase & Co. from $495.00 to $575.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the medical equipment provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 18.16% from the company’s current price.

ISRG has been the topic of several other research reports. Royal Bank of Canada raised their target price on shares of Intuitive Surgical from $515.00 to $525.00 and gave the company an “outperform” rating in a research note on Tuesday. Piper Sandler upped their target price on shares of Intuitive Surgical from $490.00 to $495.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. BTIG Research lifted their price target on shares of Intuitive Surgical from $469.00 to $494.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Barclays raised their price target on shares of Intuitive Surgical from $430.00 to $490.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. Finally, Redburn Atlantic raised shares of Intuitive Surgical from a “neutral” rating to a “buy” rating and raised their target price for the company from $380.00 to $510.00 in a research report on Friday, August 2nd. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $458.35.

Intuitive Surgical Trading Up 0.6 %

NASDAQ ISRG traded up $2.80 on Friday, reaching $486.64. The company’s stock had a trading volume of 143,884 shares, compared to its average volume of 1,463,931. The business has a 50-day moving average price of $479.63 and a 200 day moving average price of $434.04. The firm has a market cap of $172.93 billion, a PE ratio of 83.36, a price-to-earnings-growth ratio of 5.40 and a beta of 1.39. Intuitive Surgical has a 52 week low of $254.85 and a 52 week high of $496.48.

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

Insider Buying and Selling

In related news, insider Mark Brosius sold 2,115 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $491.91, for a total transaction of $1,040,389.65. Following the transaction, the insider now owns 295 shares in the company, valued at $145,113.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Mark Brosius sold 2,115 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $491.91, for a total value of $1,040,389.65. Following the transaction, the insider now owns 295 shares of the company’s stock, valued at approximately $145,113.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Desantis sold 1,413 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $438.60, for a total transaction of $619,741.80. Following the completion of the sale, the executive vice president now owns 5,506 shares of the company’s stock, valued at approximately $2,414,931.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 53,120 shares of company stock valued at $25,528,753 over the last 90 days. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Intuitive Surgical

Several large investors have recently made changes to their positions in ISRG. Sunflower Bank N.A. purchased a new stake in Intuitive Surgical in the third quarter worth $344,000. Koshinski Asset Management Inc. boosted its position in Intuitive Surgical by 6.3% during the third quarter. Koshinski Asset Management Inc. now owns 4,246 shares of the medical equipment provider’s stock worth $2,086,000 after purchasing an additional 253 shares during the period. Renaissance Investment Group LLC increased its stake in shares of Intuitive Surgical by 0.5% in the third quarter. Renaissance Investment Group LLC now owns 30,503 shares of the medical equipment provider’s stock worth $14,985,000 after purchasing an additional 145 shares in the last quarter. Inspire Investing LLC raised its position in shares of Intuitive Surgical by 2.1% in the third quarter. Inspire Investing LLC now owns 32,718 shares of the medical equipment provider’s stock valued at $16,073,000 after purchasing an additional 667 shares during the period. Finally, Ritholtz Wealth Management grew its stake in Intuitive Surgical by 14.1% in the 3rd quarter. Ritholtz Wealth Management now owns 4,421 shares of the medical equipment provider’s stock valued at $2,172,000 after buying an additional 546 shares in the last quarter. 83.64% of the stock is owned by hedge funds and other 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.