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

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) had its price target boosted by equities research analysts at Truist Financial from $570.00 to $640.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the medical equipment provider's stock. Truist Financial's price objective suggests a potential upside of 17.79% from the stock's previous close.

Several other equities research analysts have also commented on ISRG. Stifel Nicolaus upped their price target on Intuitive Surgical from $525.00 to $610.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. Piper Sandler reissued an "overweight" rating and set a $538.00 target price (up previously from $495.00) on shares of Intuitive Surgical in a research report on Friday, October 18th. Evercore ISI restated a "cautious" rating on shares of Intuitive Surgical in a research note on Friday, October 18th. Oppenheimer reaffirmed a "market perform" rating on shares of Intuitive Surgical in a research report on Friday, October 18th. Finally, Wells Fargo & Company boosted their target price on shares of Intuitive Surgical from $549.00 to $630.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Intuitive Surgical presently has an average rating of "Moderate Buy" and an average target price of $554.17.

Intuitive Surgical Stock Down 0.3 %

Shares of ISRG traded down $1.82 during trading hours on Wednesday, reaching $543.34. 132,256 shares of the company traded hands, compared to its average volume of 1,434,561. The stock has a fifty day simple moving average of $524.52 and a 200 day simple moving average of $481.55. Intuitive Surgical has a fifty-two week low of $320.26 and a fifty-two week high of $556.23. The stock has a market capitalization of $193.53 billion, a PE ratio of 87.35, a price-to-earnings-growth ratio of 5.35 and a beta of 1.38.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.32. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.01 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 13.41%. Research analysts predict that Intuitive Surgical will post 5.45 EPS for the current fiscal year.

Insider Transactions at Intuitive Surgical

In related news, CEO Gary S. Guthart sold 18,151 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 24,219 shares in the company, valued at $12,391,166.97. This represents a 42.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Brian Edward Miller sold 2,553 shares of the business's stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $515.00, for a total value of $1,314,795.00. Following the sale, the executive vice president now directly owns 7,066 shares in the company, valued at approximately $3,638,990. The trade was a 26.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,190 shares of company stock worth $25,012,927. Company insiders own 0.80% of the company's stock.

Institutional Trading of Intuitive Surgical

Several institutional investors have recently made changes to their positions in the stock. SMART Wealth LLC acquired a new position in Intuitive Surgical in the 3rd quarter worth about $290,000. Exome Asset Management LLC increased its holdings in 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 worth $3,649,000 after buying an additional 1,069 shares during the last quarter. Brass Tax Wealth Management Inc. raised its position in Intuitive Surgical by 2.2% during the third quarter. Brass Tax Wealth Management Inc. now owns 2,558 shares of the medical equipment provider's stock valued at $1,257,000 after acquiring an additional 56 shares in the last quarter. DGS Capital Management LLC boosted its holdings in Intuitive Surgical by 19.3% in the third quarter. DGS Capital Management LLC now owns 1,659 shares of the medical equipment provider's stock worth $815,000 after purchasing an additional 268 shares in the last quarter. Finally, Garde Capital Inc. acquired a new position in shares of Intuitive Surgical during the 3rd quarter valued at about $103,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

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.

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