Wells Fargo & Company Forecasts Strong Price Appreciation for Intuitive Surgical (NASDAQ:ISRG) Stock

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) had its price target upped by equities research analysts at Wells Fargo & Company from $630.00 to $687.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the medical equipment provider's stock. Wells Fargo & Company's price objective suggests a potential upside of 17.63% from the company's previous close.

Other research analysts have also issued research reports about the company. Citigroup raised their price objective on Intuitive Surgical from $640.00 to $711.00 and gave the company a "buy" rating in a report on Friday. Truist Financial upped their price objective on shares of Intuitive Surgical from $570.00 to $640.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. Leerink Partners raised their target price on shares of Intuitive Surgical from $489.00 to $502.00 in a research note on Thursday, October 17th. Royal Bank of Canada upped their price target on Intuitive Surgical from $525.00 to $555.00 and gave the company an "outperform" rating in a research report on Friday, October 18th. Finally, The Goldman Sachs Group set a $604.00 price objective on Intuitive Surgical in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $583.83.

Intuitive Surgical Stock Down 4.0 %

Shares of NASDAQ ISRG traded down $24.61 during midday trading on Friday, hitting $584.05. The stock had a trading volume of 4,350,539 shares, compared to its average volume of 1,997,346. The stock has a 50 day simple moving average of $546.03 and a 200-day simple moving average of $503.38. The company has a market capitalization of $208.03 billion, a PE ratio of 93.90, a P/E/G ratio of 5.19 and a beta of 1.39. Intuitive Surgical has a 1 year low of $364.17 and a 1 year high of $616.00.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, EVP Robert Desantis sold 188 shares of the firm's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $506.52, for a total transaction of $95,225.76. Following the sale, the executive vice president now directly owns 5,506 shares of the company's stock, valued at $2,788,899.12. This trade represents a 3.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jamie Samath sold 108 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $542.06, for a total transaction of $58,542.48. Following the completion of the transaction, the chief financial officer now directly owns 8,757 shares of the company's stock, valued at approximately $4,746,819.42. This represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,475 shares of company stock worth $22,070,807. 0.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuitive Surgical

Several large investors have recently added to or reduced their stakes in ISRG. Massachusetts Financial Services Co. MA purchased a new position in shares of Intuitive Surgical in the 3rd quarter worth $558,807,000. International Assets Investment Management LLC raised its holdings in shares of Intuitive Surgical by 49,383.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,090,619 shares of the medical equipment provider's stock worth $535,788,000 after purchasing an additional 1,088,415 shares during the period. FMR LLC lifted its stake in shares of Intuitive Surgical by 8.3% in the 3rd quarter. FMR LLC now owns 10,971,085 shares of the medical equipment provider's stock valued at $5,389,765,000 after purchasing an additional 838,793 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in shares of Intuitive Surgical by 15,322.2% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 555,661 shares of the medical equipment provider's stock worth $272,980,000 after purchasing an additional 552,058 shares during the period. Finally, State Street Corp raised its holdings in Intuitive Surgical by 1.4% in the third quarter. State Street Corp now owns 15,050,121 shares of the medical equipment provider's stock valued at $7,393,673,000 after buying an additional 210,363 shares during the period. 83.64% of the stock is currently owned by hedge funds and other 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.