Citigroup Increases Intuitive Surgical (NASDAQ:ISRG) Price Target to $1,100.00

Intuitive Surgical (NASDAQ:ISRG) had its price objective lifted by Citigroup from $939.00 to $1,100.00 in a report published on Wednesday, Price Targets.com reports. Citigroup currently has a buy rating on the medical equipment provider’s stock.

ISRG has been the topic of several other research reports. The Goldman Sachs Group lifted their target price on shares of Intuitive Surgical from $953.00 to $1,090.00 and gave the stock a buy rating in a research report on Wednesday, July 14th. Wells Fargo & Company lifted their target price on shares of Intuitive Surgical from $892.00 to $916.00 and gave the stock an overweight rating in a research report on Monday, June 7th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Intuitive Surgical from $690.00 to $825.00 and gave the stock a hold rating in a research report on Wednesday, April 21st. Robert W. Baird raised shares of Intuitive Surgical from a neutral rating to an outperform rating and lifted their target price for the stock from $825.00 to $925.00 in a research report on Wednesday, April 21st. Finally, raised their price target on shares of Intuitive Surgical from $862.00 to $939.00 and gave the stock a buy rating in a research note on Wednesday, April 21st. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $924.50.

Shares of NASDAQ ISRG opened at $944.94 on Wednesday. Intuitive Surgical has a fifty-two week low of $633.29 and a fifty-two week high of $987.27. The company has a market cap of $111.89 billion, a PE ratio of 71.38, a price-to-earnings-growth ratio of 8.31 and a beta of 1.05. The company has a 50-day simple moving average of $884.05.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Monday, July 19th. The medical equipment provider reported $3.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.06 by $0.86. Intuitive Surgical had a net margin of 31.43% and a return on equity of 16.65%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the firm earned $1.11 EPS. The firm’s revenue for the quarter was up 71.8% compared to the same quarter last year. Research analysts anticipate that Intuitive Surgical will post 12.26 EPS for the current fiscal year.

In other news, SVP Reiter Kara Andersen sold 750 shares of the business’s stock in a transaction on Friday, April 23rd. The shares were sold at an average price of $848.01, for a total transaction of $636,007.50. Following the completion of the transaction, the senior vice president now directly owns 5,594 shares in the company, valued at approximately $4,743,767.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Curet Myriam sold 875 shares of the business’s stock in a transaction on Monday, April 26th. The shares were sold at an average price of $866.44, for a total transaction of $758,135.00. Following the transaction, the executive vice president now owns 969 shares of the company’s stock, valued at $839,580.36. The disclosure for this sale can be found here. Insiders sold a total of 56,243 shares of company stock valued at $48,517,488 over the last quarter. 0.90% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Command Bank lifted its holdings in shares of Intuitive Surgical by 85.7% during the 2nd quarter. First Command Bank now owns 78 shares of the medical equipment provider’s stock worth $72,000 after acquiring an additional 36 shares during the last quarter. Raymond James Trust N.A. lifted its holdings in shares of Intuitive Surgical by 4.0% during the 2nd quarter. Raymond James Trust N.A. now owns 875 shares of the medical equipment provider’s stock worth $804,000 after acquiring an additional 34 shares during the last quarter. Minot Wealth Management LLC lifted its holdings in shares of Intuitive Surgical by 30.9% during the 2nd quarter. Minot Wealth Management LLC now owns 1,067 shares of the medical equipment provider’s stock worth $1,020,000 after acquiring an additional 252 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Intuitive Surgical by 1.0% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 1,083 shares of the medical equipment provider’s stock worth $996,000 after acquiring an additional 11 shares during the last quarter. Finally, First United Bank Trust lifted its holdings in shares of Intuitive Surgical by 8.8% during the 2nd quarter. First United Bank Trust now owns 522 shares of the medical equipment provider’s stock worth $480,000 after acquiring an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

About Intuitive Surgical

Intuitive Surgical, Inc engages in the development, manufacture, and marketing of da Vinci Surgical Systems, and related instruments and accessories for invasive surgery. Its products include Da Vinci and Ion. The company was founded by Frederic H. Moll, John Gordon Freund, and Robert G. Younge in November 1995 and is headquartered in Sunnyvale, CA.

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