Intuitive Surgical (NASDAQ:ISRG) Given New $630.00 Price Target at Wells Fargo & Company

Intuitive Surgical (NASDAQ:ISRG) had its target price lifted by investment analysts at Wells Fargo & Company from $549.00 to $630.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical equipment provider’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 15.49% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Royal Bank of Canada upped their price target on Intuitive Surgical from $525.00 to $555.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. JPMorgan Chase & Co. lifted their price objective on shares of Intuitive Surgical from $495.00 to $575.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Leerink Partners increased their target price on shares of Intuitive Surgical from $489.00 to $502.00 in a report on Thursday, October 17th. Evercore ISI restated a “cautious” rating on shares of Intuitive Surgical in a report on Friday, October 18th. Finally, Morgan Stanley upgraded shares of Intuitive Surgical from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $522.00 to $650.00 in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $545.83.

Intuitive Surgical Stock Up 1.4 %

ISRG traded up $7.40 during trading on Wednesday, hitting $545.49. 93,329 shares of the company’s stock were exchanged, compared to its average volume of 1,438,130. Intuitive Surgical has a fifty-two week low of $314.38 and a fifty-two week high of $556.23. The stock has a market cap of $194.29 billion, a P/E ratio of 87.70, a PEG ratio of 5.41 and a beta of 1.38. The business’s 50 day moving average is $517.16 and its two-hundred day moving average is $475.65.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share 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 analysts’ expectations of $2.01 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 13.41%. On average, sell-side analysts forecast that Intuitive Surgical will post 5.45 earnings per share for the current year.

Insider Transactions at Intuitive Surgical

In related news, 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 owns 8,757 shares of the company’s stock, valued at approximately $4,746,819.42. The trade was a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert Desantis sold 188 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,485 shares of company stock worth $26,128,102 over the last quarter. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Intuitive Surgical

A number of institutional investors have recently added to or reduced their stakes in the business. Hazlett Burt & Watson Inc. lifted its stake in Intuitive Surgical by 5.8% during the third quarter. Hazlett Burt & Watson Inc. now owns 362 shares of the medical equipment provider’s stock worth $177,000 after purchasing an additional 20 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. boosted its stake in Intuitive Surgical by 4.1% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 503 shares of the medical equipment provider’s stock worth $247,000 after buying an additional 20 shares in the last quarter. Ullmann Wealth Partners Group LLC grew its position in Intuitive Surgical by 1.6% during the third quarter. Ullmann Wealth Partners Group LLC now owns 1,329 shares of the medical equipment provider’s stock valued at $653,000 after acquiring an additional 21 shares during the last quarter. Meeder Advisory Services Inc. raised its stake in shares of Intuitive Surgical by 0.3% during the third quarter. Meeder Advisory Services Inc. now owns 7,386 shares of the medical equipment provider’s stock worth $3,629,000 after acquiring an additional 22 shares in the last quarter. Finally, One Wealth Management Investment & Advisory Services LLC lifted its holdings in shares of Intuitive Surgical by 3.4% in the 2nd quarter. One Wealth Management Investment & Advisory Services LLC now owns 697 shares of the medical equipment provider’s stock worth $310,000 after acquiring an additional 23 shares during the last quarter. 83.64% of the stock is currently 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.