Intuitive Surgical (NASDAQ:ISRG) Price Target Raised to $550.00 at Daiwa Capital Markets

Key Points

• Daiwa Capital Markets has raised its price target for Intuitive Surgical's stock from $510.00 to $550.00, maintaining an "outperform" rating.
• Intuitive Surgical reported an earnings per share of $2.40 for the last quarter, exceeding estimates by $0.41, along with a revenue increase of 22.9% from the previous year.
• A majority of analysts are positive about Intuitive Surgical, with 19 buy ratings and an average price target of $602.32.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) had its price target raised by investment analysts at Daiwa Capital Markets from $510.00 to $550.00 in a report released on Friday,MarketScreener reports. The brokerage currently has an "outperform" rating on the medical equipment provider's stock. Daiwa Capital Markets' price objective would indicate a potential upside of 0.66% from the stock's previous close.

ISRG has been the topic of several other research reports. The Goldman Sachs Group lowered their price objective on shares of Intuitive Surgical from $621.00 to $567.00 and set a "buy" rating on the stock in a research note on Wednesday, October 1st. Wells Fargo & Company boosted their price objective on shares of Intuitive Surgical from $599.00 to $600.00 and gave the company an "overweight" rating in a research report on Wednesday. UBS Group set a $600.00 target price on Intuitive Surgical and gave the company a "neutral" rating in a research report on Thursday. Royal Bank Of Canada set a $625.00 target price on Intuitive Surgical and gave the company an "outperform" rating in a research report on Wednesday. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $685.00 price objective on shares of Intuitive Surgical in a research note on Tuesday. Nineteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $602.32.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $546.41 on Friday. The firm has a market cap of $195.88 billion, a P/E ratio of 72.47, a P/E/G ratio of 5.53 and a beta of 1.61. The business's 50 day moving average price is $456.77 and its 200-day moving average price is $496.40. Intuitive Surgical has a fifty-two week low of $425.00 and a fifty-two week high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.99 by $0.41. The firm had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.41 billion. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. The company's revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.84 EPS. As a group, equities analysts predict that Intuitive Surgical will post 6.43 EPS for the current year.

Insider Buying and Selling at Intuitive Surgical

In other news, Director Amy L. Ladd sold 335 shares of Intuitive Surgical stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $440.69, for a total transaction of $147,631.15. Following the completion of the sale, the director directly owned 739 shares in the company, valued at approximately $325,669.91. This trade represents a 31.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary S. Guthart sold 29,360 shares of the business's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $472.49, for a total value of $13,872,306.40. Following the completion of the sale, the insider owned 19,827 shares of the company's stock, valued at $9,368,059.23. The trade was a 59.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,724 shares of company stock valued at $19,500,332. Corporate insiders own 0.70% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Parnassus Investments LLC grew its stake in Intuitive Surgical by 2.8% in the 3rd quarter. Parnassus Investments LLC now owns 2,789 shares of the medical equipment provider's stock valued at $1,247,000 after acquiring an additional 77 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Intuitive Surgical by 13.1% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 70,575 shares of the medical equipment provider's stock worth $31,563,000 after acquiring an additional 8,168 shares in the last quarter. Pasadena Private Wealth LLC acquired a new position in shares of Intuitive Surgical in the third quarter valued at approximately $291,000. Oregon Public Employees Retirement Fund raised its stake in shares of Intuitive Surgical by 32.2% in the third quarter. Oregon Public Employees Retirement Fund now owns 40,956 shares of the medical equipment provider's stock valued at $18,317,000 after acquiring an additional 9,985 shares in the last quarter. Finally, Harrell Investment Partners LLC grew its position in shares of Intuitive Surgical by 3.8% during the third quarter. Harrell Investment Partners LLC now owns 1,871 shares of the medical equipment provider's stock worth $837,000 after buying an additional 68 shares in the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

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.

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