Intuitive Surgical (NASDAQ:ISRG) Price Target Raised to $550.00 at Evercore ISI

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) had its price target boosted by equities research analysts at Evercore ISI from $470.00 to $550.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "in-line" rating on the medical equipment provider's stock. Evercore ISI's price objective indicates a potential upside of 4.30% from the stock's current price.

A number of other research analysts also recently commented on the company. BTIG Research set a $560.00 target price on Intuitive Surgical and gave the company a "buy" rating in a research report on Monday, April 14th. Robert W. Baird lowered their price target on Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Truist Financial lowered their price target on Intuitive Surgical from $605.00 to $590.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Piper Sandler lowered their price target on Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, Royal Bank Of Canada lowered their price target on Intuitive Surgical from $630.00 to $605.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $592.59.

Intuitive Surgical Stock Performance

Shares of ISRG stock traded down $7.41 during mid-day trading on Tuesday, reaching $527.30. 1,608,552 shares of the company's stock traded hands, compared to its average volume of 1,670,537. Intuitive Surgical has a 12 month low of $413.82 and a 12 month high of $616.00. The firm has a 50 day moving average price of $537.53 and a two-hundred day moving average price of $536.99. The firm has a market capitalization of $188.99 billion, a PE ratio of 77.32, a price-to-earnings-growth ratio of 5.78 and a beta of 1.64.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.10. The company had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.19 billion. Intuitive Surgical had a net margin of 28.41% and a return on equity of 14.43%. During the same period in the prior year, the firm posted $1.50 EPS. As a group, equities analysts expect that Intuitive Surgical will post 6.43 earnings per share for the current fiscal year.

Insider Activity at Intuitive Surgical

In related news, EVP Gary Loeb sold 1,700 shares of Intuitive Surgical stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $513.18, for a total value of $872,406.00. Following the completion of the transaction, the executive vice president directly owned 2,245 shares in the company, valued at approximately $1,152,089.10. This trade represents a 43.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jami K. Nachtsheim sold 2,400 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $520.00, for a total value of $1,248,000.00. Following the transaction, the director directly owned 6,371 shares in the company, valued at approximately $3,312,920. This represents a 27.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,998 shares of company stock valued at $2,611,577 in the last 90 days. 0.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intuitive Surgical

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Intuitive Surgical by 1.4% during the first quarter. Vanguard Group Inc. now owns 32,665,531 shares of the medical equipment provider's stock worth $16,178,258,000 after purchasing an additional 453,335 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Intuitive Surgical by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 7,756,727 shares of the medical equipment provider's stock valued at $4,039,200,000 after purchasing an additional 243,802 shares during the last quarter. Norges Bank bought a new position in shares of Intuitive Surgical during the fourth quarter valued at approximately $2,401,493,000. Invesco Ltd. grew its holdings in shares of Intuitive Surgical by 1.7% during the first quarter. Invesco Ltd. now owns 4,219,974 shares of the medical equipment provider's stock valued at $2,090,027,000 after purchasing an additional 71,794 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Intuitive Surgical by 0.3% during the first quarter. Northern Trust Corp now owns 3,631,281 shares of the medical equipment provider's stock valued at $1,798,465,000 after purchasing an additional 11,988 shares during the last quarter. 83.64% of the stock is currently owned by 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.