Intuitive Surgical (NASDAQ:ISRG) Given New $605.00 Price Target at Royal Bank of Canada

Intuitive Surgical (NASDAQ:ISRG) had its target price reduced by Royal Bank of Canada from $630.00 to $605.00 in a report issued on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the medical equipment provider’s stock.

A number of other equities analysts have also recently issued reports on the stock. Truist Financial lowered their price objective on shares of Intuitive Surgical from $605.00 to $590.00 and set a “buy” rating for the company in a research report on Wednesday. Erste Group Bank downgraded Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Piper Sandler dropped their target price on shares of Intuitive Surgical from $670.00 to $575.00 and set an “overweight” rating on the stock in a report on Wednesday. Leerink Partners increased their price target on Intuitive Surgical from $490.00 to $548.00 in a report on Monday, January 27th. Finally, CICC Research started coverage on shares of Intuitive Surgical in a research report on Monday, January 27th. They set a “neutral” rating and a $550.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $600.81.

Intuitive Surgical Stock Up 1.9 %

Shares of Intuitive Surgical stock opened at $487.93 on Wednesday. The business’s 50 day moving average is $515.40 and its 200-day moving average is $531.93. The stock has a market cap of $173.79 billion, a P/E ratio of 76.12, a P/E/G ratio of 5.85 and a beta of 1.55. Intuitive Surgical has a 12-month low of $367.39 and a 12-month high of $616.00.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Tuesday, April 22nd. The medical equipment provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.10. The firm had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Intuitive Surgical had a net margin of 27.81% and a return on equity of 14.55%. During the same period in the previous year, the business posted $1.50 earnings per share. On average, sell-side analysts expect that Intuitive Surgical will post 6.43 EPS for the current year.

Insiders Place Their Bets

In other Intuitive Surgical news, VP Fredrik Widman sold 810 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $573.78, for a total value of $464,761.80. Following the transaction, the vice president now directly owns 473 shares in the company, valued at approximately $271,397.94. This trade represents a 63.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jamie Samath sold 94 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $571.11, for a total value of $53,684.34. Following the completion of the transaction, the chief financial officer now directly owns 2,630 shares in the company, valued at $1,502,019.30. This trade represents a 3.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,754 shares of company stock worth $17,691,621. 0.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuitive Surgical

Institutional investors have recently bought and sold shares of the stock. Bennett Selby Investments LP boosted its position 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 valued at $234,000 after acquiring an additional 17 shares during the last quarter. Onefund LLC lifted its position in Intuitive Surgical by 1.9% in the fourth quarter. Onefund LLC now owns 947 shares of the medical equipment provider’s stock worth $494,000 after buying an additional 18 shares during the last quarter. AlphaCore Capital LLC increased its position in Intuitive Surgical by 4.2% during the fourth quarter. AlphaCore Capital LLC now owns 451 shares of the medical equipment provider’s stock valued at $235,000 after acquiring an additional 18 shares during the last quarter. LVW Advisors LLC lifted its holdings in shares of Intuitive Surgical by 1.3% in the 4th quarter. LVW Advisors LLC now owns 1,448 shares of the medical equipment provider’s stock worth $756,000 after acquiring an additional 19 shares during the last quarter. Finally, Wesbanco Bank Inc. boosted its stake in shares of Intuitive Surgical by 1.6% during the 4th quarter. Wesbanco Bank Inc. now owns 1,216 shares of the medical equipment provider’s stock worth $635,000 after purchasing an additional 19 shares during the period. 83.64% of the stock is owned by hedge funds and other 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.