Intuitive Surgical (NASDAQ:ISRG) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Intuitive Surgical (NASDAQ:ISRG) had its target price upped by equities researchers at JPMorgan Chase & Co. from $575.00 to $675.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical equipment provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 10.90% from the company’s previous close.

Several other brokerages have also issued reports on ISRG. The Goldman Sachs Group set a $604.00 price target on Intuitive Surgical in a research note on Friday, October 18th. Robert W. Baird upped their target price on Intuitive Surgical from $503.00 to $565.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Evercore ISI reissued a “cautious” rating on shares of Intuitive Surgical in a report on Friday, October 18th. Leerink Partners raised their price objective on shares of Intuitive Surgical from $489.00 to $502.00 in a report on Thursday, October 17th. Finally, Mizuho lifted their target price on shares of Intuitive Surgical from $440.00 to $500.00 in a research report on Thursday, October 17th. One research 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $559.72.

Intuitive Surgical Trading Down 0.3 %

Shares of ISRG stock opened at $608.66 on Friday. The firm has a market capitalization of $216.79 billion, a P/E ratio of 97.86, a price-to-earnings-growth ratio of 5.19 and a beta of 1.39. Intuitive Surgical has a 1 year low of $362.14 and a 1 year high of $616.00. The firm’s fifty day simple moving average is $544.61 and its 200 day simple moving average is $502.64.

Insiders Place Their Bets

In other news, CFO Jamie Samath sold 108 shares of the 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 sale, the chief financial officer now directly owns 8,757 shares of the company’s stock, valued at $4,746,819.42. This represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert Desantis sold 376 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $539.00, for a total transaction of $202,664.00. Following the completion of the sale, the executive vice president now directly owns 5,506 shares of the company’s stock, valued at approximately $2,967,734. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,475 shares of company stock valued at $22,070,807 in the last 90 days. 0.90% of the stock is currently owned by insiders.

Institutional Trading of Intuitive Surgical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA bought a new position in shares of Intuitive Surgical in the 3rd quarter valued at about $558,807,000. International Assets Investment Management LLC boosted its stake in Intuitive Surgical by 49,383.6% in the third quarter. International Assets Investment Management LLC now owns 1,090,619 shares of the medical equipment provider’s stock valued at $535,788,000 after acquiring an additional 1,088,415 shares during the last quarter. FMR LLC grew its holdings 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 acquiring an additional 838,793 shares during the period. Wilmington Savings Fund Society FSB raised its position in shares of Intuitive Surgical by 15,322.2% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 555,661 shares of the medical equipment provider’s stock valued at $272,980,000 after acquiring an additional 552,058 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Intuitive Surgical by 1.4% in the 3rd quarter. State Street Corp now owns 15,050,121 shares of the medical equipment provider’s stock valued at $7,393,673,000 after purchasing an additional 210,363 shares during the period. 83.64% of the stock is currently owned by institutional investors and hedge funds.

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.