Royal Bank of Canada Raises Intuitive Surgical (NASDAQ:ISRG) Price Target to $555.00

Intuitive Surgical (NASDAQ:ISRG) had its price objective lifted by equities research analysts at Royal Bank of Canada from $525.00 to $555.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical equipment provider’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 8.40% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Morgan Stanley raised their price target on Intuitive Surgical from $375.00 to $460.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Barclays raised their price target on Intuitive Surgical from $430.00 to $490.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Leerink Partners raised their price target on Intuitive Surgical from $489.00 to $502.00 in a research report on Thursday. BTIG Research raised their price target on Intuitive Surgical from $494.00 to $518.00 and gave the company a “buy” rating in a research report on Monday. Finally, Mizuho raised their price target on Intuitive Surgical from $440.00 to $500.00 in a research report on Thursday. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Intuitive Surgical currently has a consensus rating of “Moderate Buy” and a consensus price target of $485.65.

Intuitive Surgical Price Performance

NASDAQ ISRG opened at $512.00 on Friday. Intuitive Surgical has a fifty-two week low of $254.85 and a fifty-two week high of $512.00. The stock’s 50-day moving average is $482.69 and its two-hundred day moving average is $436.91. The firm has a market cap of $181.61 billion, a P/E ratio of 92.42, a price-to-earnings-growth ratio of 5.40 and a beta of 1.39.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Thursday, July 18th. The medical equipment provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.24. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates 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 last year, the company earned $1.18 earnings per share. On average, equities analysts expect that Intuitive Surgical will post 5.22 EPS for the current year.

Insiders Place Their Bets

In other Intuitive Surgical news, EVP Myriam Curet sold 2,818 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $458.13, for a total transaction of $1,291,010.34. Following the completion of the transaction, the executive vice president now owns 298 shares in the company, valued at $136,522.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Mark Brosius sold 2,115 shares of Intuitive Surgical stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 295 shares in the company, valued at approximately $145,113.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Myriam Curet sold 2,818 shares of Intuitive Surgical stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $458.13, for a total transaction of $1,291,010.34. Following the completion of the transaction, the executive vice president now owns 298 shares of the company’s stock, valued at $136,522.74. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 53,120 shares of company stock worth $25,528,753 over the last quarter. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Friedenthal Financial bought a new position in shares of Intuitive Surgical in the third quarter valued at approximately $51,000. Capital Investment Advisors LLC raised its position in Intuitive Surgical by 7.3% in the 3rd quarter. Capital Investment Advisors LLC now owns 778 shares of the medical equipment provider’s stock worth $382,000 after purchasing an additional 53 shares during the last quarter. Moss Adams Wealth Advisors LLC raised its position in Intuitive Surgical by 20.1% in the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 627 shares of the medical equipment provider’s stock worth $308,000 after purchasing an additional 105 shares during the last quarter. KMG Fiduciary Partners LLC raised its position in Intuitive Surgical by 1.0% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 14,228 shares of the medical equipment provider’s stock worth $6,990,000 after purchasing an additional 140 shares during the last quarter. Finally, Net Worth Advisory Group bought a new position in Intuitive Surgical in the 3rd quarter worth approximately $800,000. Institutional investors 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.