Truist Financial Forecasts Strong Price Appreciation for Intuitive Surgical (NASDAQ:ISRG) Stock

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) had its price target raised by equities research analysts at Truist Financial from $590.00 to $600.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the medical equipment provider's stock. Truist Financial's price target indicates a potential upside of 22.80% from the stock's current price.

A number of other equities analysts have also issued reports on ISRG. Piper Sandler reduced their target price on shares of Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company boosted their price objective on Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a report on Wednesday. Barclays reduced their target price on shares of Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Royal Bank Of Canada boosted their price target on shares of Intuitive Surgical from $605.00 to $615.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Robert W. Baird reduced their price objective on shares of Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $592.05.

Intuitive Surgical Price Performance

Shares of ISRG traded down $13.34 on Wednesday, hitting $488.61. The company's stock had a trading volume of 2,604,316 shares, compared to its average volume of 1,810,609. The company has a market capitalization of $175.13 billion, a PE ratio of 68.15, a PEG ratio of 5.32 and a beta of 1.64. Intuitive Surgical has a fifty-two week low of $425.00 and a fifty-two week high of $616.00. The company has a 50 day moving average price of $531.22 and a 200 day moving average price of $535.38.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 EPS for the quarter, topping the consensus estimate of $1.93 by $0.26. The company had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.35 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%. The business's revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.78 earnings per share. On average, equities analysts forecast that Intuitive Surgical will post 6.43 EPS for the current year.

Insider Buying and Selling

In related news, EVP Gary Loeb sold 1,700 shares of the business's stock in a transaction on Friday, April 25th. The shares were sold at an average price of $513.18, for a total transaction of $872,406.00. Following the transaction, the executive vice president directly owned 2,245 shares in the company, valued at approximately $1,152,089.10. The trade was a 43.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mark Brosius sold 216 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $563.11, for a total transaction of $121,631.76. Following the completion of the sale, the senior vice president owned 907 shares of the company's stock, valued at approximately $510,740.77. This represents a 19.23% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,998 shares of company stock worth $2,611,577. 0.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuitive Surgical

Hedge funds and other institutional investors have recently bought and sold shares of the business. AlphaCore Capital LLC boosted its stake in shares of Intuitive Surgical by 4.2% during the 4th quarter. AlphaCore Capital LLC now owns 451 shares of the medical equipment provider's stock worth $235,000 after acquiring an additional 18 shares during the period. Accredited Investors Inc. lifted its holdings in Intuitive Surgical by 1.9% during the 4th quarter. Accredited Investors Inc. now owns 1,040 shares of the medical equipment provider's stock valued at $543,000 after purchasing an additional 19 shares during the last quarter. Second Line Capital LLC boosted its position in Intuitive Surgical by 3.4% during the fourth quarter. Second Line Capital LLC now owns 578 shares of the medical equipment provider's stock worth $302,000 after purchasing an additional 19 shares during the period. Aaron Wealth Advisors LLC increased its holdings in shares of Intuitive Surgical by 0.8% in the second quarter. Aaron Wealth Advisors LLC now owns 2,528 shares of the medical equipment provider's stock valued at $1,374,000 after purchasing an additional 19 shares during the last quarter. Finally, Colonial Trust Co SC raised its position in shares of Intuitive Surgical by 8.8% in the fourth quarter. Colonial Trust Co SC now owns 246 shares of the medical equipment provider's stock valued at $128,000 after purchasing an additional 20 shares during the period. 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.