Evercore ISI Raises Intuitive Surgical (NASDAQ:ISRG) Price Target to $530.00

Intuitive Surgical (NASDAQ:ISRG) had its price objective raised by stock analysts at Evercore ISI from $490.00 to $530.00 in a research note issued on Monday. Evercore ISI’s target price indicates a potential downside of 7.77% from the stock’s previous close.

A number of other research firms have also commented on ISRG. Citigroup upped their price target on shares of Intuitive Surgical from $640.00 to $711.00 and gave the company a “buy” rating in a report on Friday. Barclays upped their price objective on shares of Intuitive Surgical from $610.00 to $674.00 in a report on Monday. Robert W. Baird upped their price objective on shares of Intuitive Surgical from $503.00 to $565.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Truist Financial upped their price objective on shares of Intuitive Surgical from $640.00 to $666.00 and gave the stock a “buy” rating in a report on Friday. Finally, Jefferies Financial Group upped their price objective on shares of Intuitive Surgical from $475.00 to $575.00 in a report on Monday. One analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intuitive Surgical has a consensus rating of “Moderate Buy” and an average price target of $610.95.

Intuitive Surgical Stock Performance

NASDAQ:ISRG traded down $9.41 during midday trading on Monday, reaching $574.65. 1,391,095 shares of the stock traded hands, compared to its average volume of 1,954,819. The company has a fifty day moving average of $547.16 and a 200 day moving average of $505.21. Intuitive Surgical has a 12 month low of $364.17 and a 12 month high of $616.00. The stock has a market capitalization of $204.68 billion, a P/E ratio of 92.27, a PEG ratio of 5.19 and a beta of 1.39.

Insider Activity

In other news, CEO Gary S. Guthart sold 18,151 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 24,219 shares of the company’s stock, valued at $12,391,166.97. This trade represents a 42.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Robert Desantis sold 188 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $506.52, for a total transaction of $95,225.76. Following the sale, the executive vice president now directly owns 5,506 shares in the company, valued at approximately $2,788,899.12. The trade was a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,453 shares of company stock valued at $22,059,506 in the last 90 days. 0.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intuitive Surgical

Several institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC raised its stake in Intuitive Surgical by 12.6% during the 2nd quarter. AQR Capital Management LLC now owns 42,691 shares of the medical equipment provider’s stock worth $18,958,000 after acquiring an additional 4,775 shares during the period. Creative Planning raised its stake in Intuitive Surgical by 9.8% during the 2nd quarter. Creative Planning now owns 63,039 shares of the medical equipment provider’s stock worth $28,043,000 after acquiring an additional 5,629 shares during the period. NewEdge Advisors LLC raised its stake in Intuitive Surgical by 8.2% during the 2nd quarter. NewEdge Advisors LLC now owns 13,825 shares of the medical equipment provider’s stock worth $6,150,000 after acquiring an additional 1,044 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Intuitive Surgical by 2.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 20,458 shares of the medical equipment provider’s stock worth $9,100,000 after acquiring an additional 411 shares during the period. Finally, Wellington Wealth Strategies LLC. bought a new stake in Intuitive Surgical during the 2nd quarter worth approximately $241,000. 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.