Intuitive Surgical (NASDAQ:ISRG) Given New $640.00 Price Target at Citigroup

Intuitive Surgical (NASDAQ:ISRG) had its price objective lifted by research analysts at Citigroup from $567.00 to $640.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. Citigroup’s price objective indicates a potential upside of 17.72% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Oppenheimer restated a “market perform” rating on shares of Intuitive Surgical in a research note on Friday, October 18th. JPMorgan Chase & Co. raised their price objective on shares of Intuitive Surgical from $495.00 to $575.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Erste Group Bank raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Morgan Stanley raised shares of Intuitive Surgical from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $522.00 to $650.00 in a research note on Monday, December 2nd. Finally, Evercore ISI reiterated a “cautious” rating on shares of Intuitive Surgical in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $550.28.

Intuitive Surgical Stock Performance

Shares of ISRG stock traded up $5.55 during trading hours on Wednesday, hitting $543.64. 376,745 shares of the company were exchanged, compared to its average volume of 1,439,292. Intuitive Surgical has a one year low of $314.38 and a one year high of $556.23. The business’s 50-day simple moving average is $518.23 and its two-hundred day simple moving average is $476.59. The stock has a market capitalization of $193.63 billion, a price-to-earnings ratio of 87.40, a P/E/G ratio of 5.41 and a beta of 1.38.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 EPS for the quarter, topping the consensus estimate of $1.24 by $0.32. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 13.41%. As a group, analysts anticipate that Intuitive Surgical will post 5.45 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jamie Samath sold 22,903 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $525.00, for a total transaction of $12,024,075.00. Following the completion of the sale, the insider now directly owns 8,757 shares of the company’s stock, valued at $4,597,425. The trade was a 72.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Amy L. Ladd sold 450 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $490.28, for a total transaction of $220,626.00. Following the sale, the director now directly owns 821 shares of the company’s stock, valued at approximately $402,519.88. This trade represents a 35.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,755 shares of company stock valued at $26,273,943. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Intuitive Surgical

A number of institutional investors and hedge funds have recently modified their holdings of the business. Massachusetts Financial Services Co. MA acquired a new position in Intuitive Surgical during the third quarter valued at approximately $558,807,000. International Assets Investment Management LLC boosted its holdings in shares of Intuitive Surgical by 49,383.6% in the third quarter. International Assets Investment Management LLC now owns 1,090,619 shares of the medical equipment provider’s stock valued at $535,788,000 after buying an additional 1,088,415 shares during the period. FMR LLC boosted its holdings in shares of Intuitive Surgical by 8.3% in the third quarter. FMR LLC now owns 10,971,085 shares of the medical equipment provider’s stock valued at $5,389,765,000 after buying an additional 838,793 shares during the period. Wilmington Savings Fund Society FSB boosted its holdings in shares of Intuitive Surgical by 15,322.2% in the third quarter. Wilmington Savings Fund Society FSB now owns 555,661 shares of the medical equipment provider’s stock valued at $272,980,000 after buying an additional 552,058 shares during the period. Finally, Strategic Financial Concepts LLC boosted its holdings in shares of Intuitive Surgical by 40,221.4% in the second quarter. Strategic Financial Concepts LLC now owns 266,121 shares of the medical equipment provider’s stock valued at $1,184,000 after buying an additional 265,461 shares during the period. 83.64% of the stock is owned by institutional investors.

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.