Bernstein Bank Raises Intuitive Surgical (NASDAQ:ISRG) Price Target to $700.00

Intuitive Surgical (NASDAQ:ISRG) had its target price raised by research analysts at Bernstein Bank from $655.00 to $700.00 in a note issued to investors on Monday, Marketbeat.com reports. The brokerage currently has an “overweight” rating on the medical equipment provider’s stock. Bernstein Bank’s price objective suggests a potential upside of 21.92% from the stock’s current price.

A number of other equities analysts have also commented on the company. Royal Bank of Canada raised their price objective on Intuitive Surgical from $525.00 to $555.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Citigroup boosted their price target on Intuitive Surgical from $640.00 to $711.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Barclays increased their price objective on shares of Intuitive Surgical from $610.00 to $674.00 in a research note on Monday. Morgan Stanley upgraded shares of Intuitive Surgical from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $522.00 to $650.00 in a research report on Monday, December 2nd. Finally, Mizuho increased their price target on shares of Intuitive Surgical from $440.00 to $500.00 in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuitive Surgical has an average rating of “Moderate Buy” and an average price target of $613.10.

Intuitive Surgical Stock Performance

ISRG stock opened at $574.14 on Monday. Intuitive Surgical has a 52 week low of $364.17 and a 52 week high of $616.00. The company has a market capitalization of $204.50 billion, a PE ratio of 92.31, a price-to-earnings-growth ratio of 5.19 and a beta of 1.39. The company’s 50-day simple moving average is $548.00 and its 200 day simple moving average is $506.12.

Insider Buying and Selling

In other news, insider Jamie Samath sold 22,903 shares of Intuitive Surgical stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $525.00, for a total value of $12,024,075.00. Following the completion of the transaction, the insider now directly owns 8,757 shares of the company’s stock, valued at approximately $4,597,425. This trade represents a 72.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Amal M. Johnson sold 4,635 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $566.60, for a total value of $2,626,191.00. Following the sale, the director now directly owns 12,275 shares of the company’s stock, valued at $6,955,015. This represents a 27.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,749 shares of company stock valued at $15,303,875 over the last ninety days. 0.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ISRG. AQR Capital Management LLC boosted its stake in Intuitive Surgical by 12.6% during the 2nd quarter. AQR Capital Management LLC now owns 42,691 shares of the medical equipment provider’s stock valued at $18,958,000 after purchasing an additional 4,775 shares during the last quarter. Creative Planning lifted its position in shares of Intuitive Surgical by 9.8% during the 2nd quarter. Creative Planning now owns 63,039 shares of the medical equipment provider’s stock worth $28,043,000 after buying an additional 5,629 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Intuitive Surgical by 8.2% during the second quarter. NewEdge Advisors LLC now owns 13,825 shares of the medical equipment provider’s stock worth $6,150,000 after acquiring an additional 1,044 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Intuitive Surgical by 2.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 20,458 shares of the medical equipment provider’s stock valued at $9,100,000 after purchasing an additional 411 shares during the last quarter. Finally, Wellington Wealth Strategies LLC. purchased a new position in shares of Intuitive Surgical in the 2nd quarter worth about $241,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Intuitive Surgical Company Profile

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.