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

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) had its target price hoisted by analysts at Truist Financial from $640.00 to $666.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the medical equipment provider's stock. Truist Financial's target price would suggest a potential upside of 14.03% from the company's current price.

Other analysts have also issued research reports about the company. Robert W. Baird upped their price objective on Intuitive Surgical from $503.00 to $565.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Royal Bank of Canada raised their price target on Intuitive Surgical from $525.00 to $555.00 and gave the company an "outperform" rating in a report on Friday, October 18th. Leerink Partners upped their price objective on shares of Intuitive Surgical from $489.00 to $502.00 in a report on Thursday, October 17th. Raymond James raised their target price on shares of Intuitive Surgical from $560.00 to $688.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, Citigroup upped their price target on shares of Intuitive Surgical from $640.00 to $711.00 and gave the company a "buy" rating in a research note on Friday. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Intuitive Surgical has a consensus rating of "Moderate Buy" and an average target price of $583.83.

Intuitive Surgical Stock Performance

NASDAQ ISRG traded down $24.61 during trading hours on Friday, hitting $584.05. 4,350,539 shares of the company traded hands, compared to its average volume of 1,997,346. The business's 50-day moving average is $546.03 and its 200-day moving average is $503.38. The stock has a market capitalization of $208.03 billion, a price-to-earnings ratio of 93.90, a P/E/G ratio of 5.19 and a beta of 1.39. Intuitive Surgical has a twelve month low of $364.17 and a twelve month high of $616.00.

Insider Activity

In other news, CEO Gary S. Guthart sold 18,151 shares of the firm's stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $511.63, for a total value of $9,286,596.13. Following the sale, the chief executive officer now directly owns 24,219 shares in the company, valued at approximately $12,391,166.97. This trade represents a 42.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Robert Desantis sold 188 shares of the firm's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $506.52, for a total transaction of $95,225.76. Following the completion of the sale, the executive vice president now owns 5,506 shares in the company, valued at $2,788,899.12. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,475 shares of company stock worth $22,070,807. 0.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intuitive Surgical

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Mirador Capital Partners LP grew its stake in shares of Intuitive Surgical by 1.4% in the third quarter. Mirador Capital Partners LP now owns 3,526 shares of the medical equipment provider's stock worth $1,732,000 after purchasing an additional 50 shares during the last quarter. M.E. Allison & CO. Inc. acquired a new position in Intuitive Surgical during the 4th quarter worth about $449,000. Seilern Investment Management Ltd bought a new stake in shares of Intuitive Surgical in the 4th quarter valued at about $82,517,000. Exome Asset Management LLC increased its stake in shares of Intuitive Surgical by 16.8% in the third quarter. Exome Asset Management LLC now owns 7,427 shares of the medical equipment provider's stock valued at $3,649,000 after buying an additional 1,069 shares during the period. Finally, Consolidated Planning Corp lifted its stake in shares of Intuitive Surgical by 17.4% in the third quarter. Consolidated Planning Corp now owns 8,099 shares of the medical equipment provider's stock worth $3,979,000 after acquiring an additional 1,198 shares during the period. 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.