Intuitive Surgical (NASDAQ:ISRG) Price Target Raised to $585.00 at UBS Group

Intuitive Surgical (NASDAQ:ISRG - Free Report) had its target price hoisted by UBS Group from $547.00 to $585.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the medical equipment provider's stock.

Several other equities analysts also recently weighed in on ISRG. Piper Sandler reiterated an "overweight" rating and issued a $595.00 price target (up previously from $575.00) on shares of Intuitive Surgical in a report on Wednesday. Barclays lowered their price objective on Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Citigroup restated a "buy" rating and issued a $650.00 price objective (up previously from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. Evercore ISI upped their price objective on Intuitive Surgical from $470.00 to $550.00 and gave the stock an "in-line" rating in a research report on Tuesday, July 8th. Finally, Truist Financial upped their price objective on Intuitive Surgical from $590.00 to $600.00 and gave the stock a "buy" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $592.05.

Intuitive Surgical Price Performance

NASDAQ:ISRG traded up $7.25 during midday trading on Wednesday, hitting $495.86. The company's stock had a trading volume of 1,870,941 shares, compared to its average volume of 1,835,437. Intuitive Surgical has a fifty-two week low of $425.00 and a fifty-two week high of $616.00. The firm's 50 day moving average is $529.86 and its 200-day moving average is $535.07. The firm has a market cap of $177.76 billion, a P/E ratio of 69.16, a P/E/G ratio of 5.20 and a beta of 1.64.

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

Insider Transactions at Intuitive Surgical

In other news, SVP Mark Brosius sold 216 shares of Intuitive Surgical stock in a transaction on Friday, June 6th. The stock was sold at an average price of $563.11, for a total transaction of $121,631.76. Following the transaction, the senior vice president owned 907 shares in the company, valued at $510,740.77. The trade was a 19.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert Desantis sold 188 shares of Intuitive Surgical stock in a transaction on Monday, April 28th. The stock was sold at an average price of $515.91, for a total value of $96,991.08. Following the transaction, the executive vice president owned 5,224 shares in the company, valued at approximately $2,695,113.84. This represents a 3.47% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,798 shares of company stock worth $3,955,331. Company insiders own 0.70% of the company's stock.

Institutional Trading of Intuitive Surgical

Hedge funds and other institutional investors have recently modified their holdings of the business. Hurley Capital LLC acquired a new stake in shares of Intuitive Surgical during the 4th quarter worth about $28,000. Parvin Asset Management LLC acquired a new stake in shares of Intuitive Surgical during the 4th quarter worth about $26,000. Chilton Capital Management LLC grew its position in Intuitive Surgical by 614.3% in the 1st quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 43 shares in the last quarter. Global Financial Private Client LLC grew its position in Intuitive Surgical by 253.3% in the 1st quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock valued at $26,000 after acquiring an additional 38 shares in the last quarter. Finally, Elite Financial Inc. acquired a new position in Intuitive Surgical in the 1st quarter valued at about $26,000. 83.64% of the stock is owned by institutional investors and hedge funds.

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.