Intuitive Surgical (NASDAQ:ISRG) Given New $711.00 Price Target at Citigroup

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) had its price target hoisted by equities research analysts at Citigroup from $640.00 to $711.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the medical equipment provider's stock. Citigroup's target price suggests a potential upside of 21.72% from the stock's previous close.

Several other analysts have also issued reports on ISRG. The Goldman Sachs Group set a $604.00 price target on Intuitive Surgical in a report on Friday, October 18th. Raymond James increased their target price on shares of Intuitive Surgical from $500.00 to $540.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. Robert W. Baird lifted their price target on shares of Intuitive Surgical from $503.00 to $565.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Mizuho increased their price objective on shares of Intuitive Surgical from $440.00 to $500.00 in a research note on Thursday, October 17th. Finally, Morgan Stanley upgraded shares of Intuitive Surgical from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $522.00 to $650.00 in a research note on Monday, December 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Intuitive Surgical has an average rating of "Moderate Buy" and a consensus target price of $583.83.

Intuitive Surgical Price Performance

Intuitive Surgical stock traded down $24.53 during mid-day trading on Friday, reaching $584.13. 3,498,079 shares of the stock traded hands, compared to its average volume of 1,934,561. Intuitive Surgical has a 12-month low of $364.17 and a 12-month high of $616.00. The stock has a market capitalization of $208.06 billion, a PE ratio of 93.91, a price-to-earnings-growth ratio of 5.19 and a beta of 1.39. The business's 50-day moving average is $546.03 and its 200-day moving average is $503.38.

Insiders Place Their Bets

In other Intuitive Surgical news, CFO Jamie Samath sold 270 shares of the business's stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $540.15, for a total transaction of $145,840.50. Following the completion of the transaction, the chief financial officer now owns 8,757 shares in the company, valued at $4,730,093.55. The trade was a 2.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gary S. Guthart sold 18,151 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $511.63, for a total value of $9,286,596.13. Following the completion of the sale, the chief executive officer now owns 24,219 shares in the company, valued at approximately $12,391,166.97. The trade was a 42.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,475 shares of company stock valued at $22,070,807 in the last three months. Corporate 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 bought and sold shares of ISRG. Berbice Capital Management LLC purchased a new position in Intuitive Surgical during the 4th quarter valued at about $26,000. Godsey & Gibb Inc. raised its stake in Intuitive Surgical by 140.0% in the third quarter. Godsey & Gibb Inc. now owns 60 shares of the medical equipment provider's stock worth $29,000 after buying an additional 35 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in Intuitive Surgical during the third quarter worth $33,000. Decker Retirement Planning Inc. purchased a new position in shares of Intuitive Surgical in the 4th quarter valued at $36,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Intuitive Surgical in the 3rd quarter worth $38,000. 83.64% of the stock is owned by institutional investors.

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.