Citigroup Boosts Intuitive Surgical (NASDAQ:ISRG) Price Target to $711.00

Intuitive Surgical (NASDAQ:ISRG) had its price target increased by research analysts at Citigroup from $640.00 to $711.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. Citigroup’s price target indicates a potential upside of 16.81% from the stock’s previous close.

A number of other analysts also recently issued reports on the company. Wells Fargo & Company raised their price objective on Intuitive Surgical from $549.00 to $630.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Piper Sandler reissued an “overweight” rating and issued a $538.00 price target (up from $495.00) on shares of Intuitive Surgical in a research note on Friday, October 18th. Raymond James increased their price objective on shares of Intuitive Surgical from $500.00 to $540.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Leerink Partners boosted their target price on Intuitive Surgical from $489.00 to $502.00 in a research report on Thursday, October 17th. Finally, Morgan Stanley upgraded Intuitive Surgical from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $522.00 to $650.00 in a research report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $563.67.

Intuitive Surgical Stock Performance

ISRG opened at $608.66 on Friday. The business’s 50 day moving average price is $544.61 and its 200 day moving average price is $502.64. The stock has a market capitalization of $216.79 billion, a PE ratio of 97.86, a P/E/G ratio of 5.19 and a beta of 1.39. Intuitive Surgical has a one year low of $362.14 and a one year high of $616.00.

Insider Buying and Selling

In other news, insider Jamie Samath sold 22,903 shares of Intuitive Surgical stock in a transaction on Friday, November 8th. The shares were sold at an average price of $525.00, for a total transaction of $12,024,075.00. Following the transaction, the insider now directly owns 8,757 shares of the company’s stock, valued at $4,597,425. This trade represents a 72.34 % 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, EVP Robert Desantis sold 188 shares of the business’s 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 completion of 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 position. The disclosure for this sale can be found here. Insiders sold a total of 42,475 shares of company stock valued at $22,070,807 over the last ninety days. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ISRG. State Street Corp raised its position in shares of Intuitive Surgical by 1.4% during the third quarter. State Street Corp now owns 15,050,121 shares of the medical equipment provider’s stock worth $7,393,673,000 after purchasing an additional 210,363 shares during the period. FMR LLC increased its stake in Intuitive Surgical by 8.3% during the 3rd quarter. FMR LLC now owns 10,971,085 shares of the medical equipment provider’s stock worth $5,389,765,000 after purchasing an additional 838,793 shares in the last quarter. Geode Capital Management LLC raised its holdings in Intuitive Surgical by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 7,512,925 shares of the medical equipment provider’s stock worth $3,677,194,000 after buying an additional 143,440 shares during the period. Fisher Asset Management LLC lifted its stake in Intuitive Surgical by 1.8% in the third quarter. Fisher Asset Management LLC now owns 4,782,381 shares of the medical equipment provider’s stock valued at $2,349,441,000 after buying an additional 86,208 shares in the last quarter. Finally, Baillie Gifford & Co. boosted its holdings in shares of Intuitive Surgical by 0.6% in the third quarter. Baillie Gifford & Co. now owns 3,848,547 shares of the medical equipment provider’s stock valued at $1,890,676,000 after buying an additional 24,183 shares during the period. 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.