Intuitive Surgical (NASDAQ:ISRG) Price Target Raised to $600.00

Key Points

• Intuitive Surgical's stock price target was raised to $600.00 by Leerink Partners, indicating a potential upside of 10.78% from its current price.
• The company reported $2.40 earnings per share for the latest quarter, exceeding analysts' estimates of $1.99 and showing a 22.9% year-over-year increase in revenue.
• Analysts have mixed ratings for Intuitive Surgical, with 16 Buy, 7 Hold, and 1 Sell ratings, resulting in a consensus price target of $599.68.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) had its target price increased by stock analysts at Leerink Partners from $593.00 to $600.00 in a research note issued to investors on Wednesday,MarketScreener reports. The brokerage currently has an "outperform" rating on the medical equipment provider's stock. Leerink Partners' price objective would suggest a potential upside of 10.78% from the stock's current price.

A number of other analysts have also recently commented on ISRG. Wells Fargo & Company boosted their price objective on Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Sanford C. Bernstein restated an "outperform" rating and issued a $685.00 price objective on shares of Intuitive Surgical in a research report on Tuesday. Weiss Ratings reiterated a "hold (c+)" rating on shares of Intuitive Surgical in a research report on Wednesday, October 8th. The Goldman Sachs Group dropped their price target on Intuitive Surgical from $621.00 to $567.00 and set a "buy" rating for the company in a research report on Wednesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Intuitive Surgical in a research report on Friday, August 22nd. Sixteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $599.68.

Intuitive Surgical Price Performance

NASDAQ:ISRG traded up $78.89 during trading hours on Wednesday, reaching $541.63. The company had a trading volume of 2,323,641 shares, compared to its average volume of 2,078,911. Intuitive Surgical has a 1-year low of $425.00 and a 1-year high of $616.00. The firm has a market cap of $194.16 billion, a PE ratio of 75.32, a price-to-earnings-growth ratio of 4.81 and a beta of 1.61. The business's 50 day moving average price is $454.39 and its 200-day moving average price is $495.58.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.99 by $0.41. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.41 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.Intuitive Surgical's revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.84 earnings per share. On average, analysts expect that Intuitive Surgical will post 6.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Myriam Curet sold 4,500 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $492.48, for a total value of $2,216,160.00. Following the transaction, the executive vice president owned 353 shares of the company's stock, valued at $173,845.44. This represents a 92.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Amy L. Ladd sold 336 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $470.11, for a total value of $157,956.96. Following the completion of the transaction, the director directly owned 1,074 shares in the company, valued at approximately $504,898.14. This trade represents a 23.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,224 shares of company stock valued at $21,716,492. Insiders own 0.70% of the company's stock.

Hedge Funds Weigh In On Intuitive Surgical

Several large investors have recently modified their holdings of ISRG. Brighton Jones LLC lifted its stake in Intuitive Surgical by 24.9% during the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock worth $1,916,000 after acquiring an additional 731 shares in the last quarter. GAMMA Investing LLC lifted its stake in Intuitive Surgical by 9.3% during the 1st quarter. GAMMA Investing LLC now owns 6,115 shares of the medical equipment provider's stock worth $3,029,000 after acquiring an additional 518 shares in the last quarter. Valmark Advisers Inc. lifted its stake in Intuitive Surgical by 8.9% during the 1st quarter. Valmark Advisers Inc. now owns 982 shares of the medical equipment provider's stock worth $486,000 after acquiring an additional 80 shares in the last quarter. Consolidated Portfolio Review Corp acquired a new position in Intuitive Surgical during the 1st quarter worth about $208,000. Finally, International Assets Investment Management LLC lifted its stake in Intuitive Surgical by 14.5% during the 1st quarter. International Assets Investment Management LLC now owns 2,379 shares of the medical equipment provider's stock worth $1,178,000 after acquiring an additional 301 shares in the last quarter. Institutional investors and hedge funds 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.

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