Raymond James Forecasts Strong Price Appreciation for Intuitive Surgical (NASDAQ:ISRG) Stock

Intuitive Surgical (NASDAQ:ISRG) had its price target hoisted by equities researchers at Raymond James from $560.00 to $688.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the medical equipment provider’s stock. Raymond James’ target price points to a potential upside of 17.31% from the stock’s current price.

Several other research firms have also recently commented on ISRG. Wells Fargo & Company boosted their price target on shares of Intuitive Surgical from $630.00 to $687.00 and gave the company an “overweight” rating in a report on Friday. Piper Sandler reiterated an “overweight” rating and issued a $670.00 target price (up previously from $538.00) on shares of Intuitive Surgical in a report on Friday. Mizuho upped their price target on Intuitive Surgical from $440.00 to $500.00 in a report on Thursday, October 17th. Citigroup increased their target price on shares of Intuitive Surgical from $640.00 to $711.00 and gave the company a “buy” rating in a research note on Friday. Finally, BTIG Research increased their price objective on shares of Intuitive Surgical from $535.00 to $561.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $582.39.

Intuitive Surgical Trading Down 3.6 %

NASDAQ:ISRG traded down $22.17 during trading hours on Friday, hitting $586.49. 2,728,952 shares of the stock traded hands, compared to its average volume of 1,885,801. Intuitive Surgical has a fifty-two week low of $364.17 and a fifty-two week high of $616.00. The firm has a market cap of $208.90 billion, a price-to-earnings ratio of 94.49, a PEG ratio of 5.19 and a beta of 1.39. The firm has a 50 day moving average price of $546.03 and a 200 day moving average price of $503.38.

Insider Activity

In other news, EVP Robert Desantis sold 188 shares of Intuitive Surgical stock in a transaction 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gary S. Guthart sold 18,151 shares of Intuitive Surgical stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $511.63, for a total transaction of $9,286,596.13. Following the completion of the transaction, the chief executive officer now directly owns 24,219 shares in the company, valued at approximately $12,391,166.97. The trade was a 42.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,475 shares of company stock valued at $22,070,807. 0.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intuitive Surgical

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bennett Selby Investments LP boosted its stake in shares of Intuitive Surgical by 3.9% during the 4th quarter. Bennett Selby Investments LP now owns 449 shares of the medical equipment provider’s stock worth $234,000 after acquiring an additional 17 shares during the period. LVW Advisors LLC raised its holdings in Intuitive Surgical by 1.3% in the 4th quarter. LVW Advisors LLC now owns 1,448 shares of the medical equipment provider’s stock valued at $756,000 after acquiring an additional 19 shares during the period. Wesbanco Bank Inc. lifted its position in Intuitive Surgical by 1.6% during the fourth quarter. Wesbanco Bank Inc. now owns 1,216 shares of the medical equipment provider’s stock worth $635,000 after acquiring an additional 19 shares during the last quarter. Journey Strategic Wealth LLC grew its position in shares of Intuitive Surgical by 1.9% in the fourth quarter. Journey Strategic Wealth LLC now owns 1,039 shares of the medical equipment provider’s stock valued at $542,000 after purchasing an additional 19 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. increased its stake in shares of 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 period. 83.64% of the stock is 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.