Wells Fargo & Company Boosts Intuitive Surgical (NASDAQ:ISRG) Price Target to $599.00

Intuitive Surgical (NASDAQ:ISRG - Free Report) had its target price hoisted by Wells Fargo & Company from $559.00 to $599.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the medical equipment provider's stock.

Several other equities research analysts have also commented on ISRG. Piper Sandler cut their price target on shares of Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Barclays cut their price target on shares of Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. BTIG Research upped their target price on shares of Intuitive Surgical from $566.00 to $571.00 and gave the stock a "buy" rating in a report on Wednesday. Citigroup reaffirmed a "buy" rating and set a $650.00 target price (up previously from $590.00) on shares of Intuitive Surgical in a report on Thursday, May 22nd. Finally, Truist Financial dropped their target price on shares of Intuitive Surgical from $605.00 to $590.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $592.05.

Intuitive Surgical Price Performance

NASDAQ ISRG traded up $7.25 on Wednesday, hitting $495.86. The company had a trading volume of 1,870,941 shares, compared to its average volume of 1,842,693. The company has a market capitalization of $177.73 billion, a PE ratio of 69.16, a PEG ratio of 5.45 and a beta of 1.64. The company's fifty day moving average price is $529.86 and its 200-day moving average price is $535.13. Intuitive Surgical has a 12-month low of $425.00 and a 12-month high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly 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 during the quarter, compared to analyst estimates of $2.35 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The firm's revenue was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.78 EPS. On average, sell-side analysts anticipate that Intuitive Surgical will post 6.43 EPS for the current year.

Insider Activity at Intuitive Surgical

In other news, Director Jami K. Nachtsheim sold 2,400 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $520.00, for a total transaction of $1,248,000.00. Following the sale, the director owned 6,371 shares of the company's stock, valued at approximately $3,312,920. This represents a 27.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mark Brosius sold 216 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $563.11, for a total transaction of $121,631.76. Following the sale, the senior vice president directly owned 907 shares in the company, valued at $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 7,798 shares of company stock valued at $3,955,331. 0.70% of the stock is owned by insiders.

Institutional Trading of Intuitive Surgical

Hedge funds have recently made changes to their positions in the business. Hurley Capital LLC acquired a new stake in shares of Intuitive Surgical during the fourth quarter worth about $28,000. Parvin Asset Management LLC purchased a new stake in shares of Intuitive Surgical during the fourth quarter worth approximately $26,000. Chilton Capital Management LLC increased its stake in shares of Intuitive Surgical by 614.3% during the first quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock worth $25,000 after buying an additional 43 shares during the period. Global Financial Private Client LLC increased its stake in shares of Intuitive Surgical by 253.3% during the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock worth $26,000 after buying an additional 38 shares during the period. Finally, Elite Financial Inc. purchased a new stake in shares of Intuitive Surgical during the first quarter worth approximately $26,000. Institutional investors and hedge funds own 83.64% of the company's stock.

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.