Intuitive Surgical (NASDAQ:ISRG) PT Set at $620.00 by Morgan Stanley

Intuitive Surgical (NASDAQ:ISRG) received a $620.00 target price from stock analysts at Morgan Stanley in a note issued to investors on Friday, TipRanks reports. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. Morgan Stanley’s price objective would suggest a potential upside of 9.49% from the stock’s previous close.

Several other brokerages have also recently issued reports on ISRG. Wells Fargo & Co set a $620.00 price objective on Intuitive Surgical and gave the stock a “buy” rating in a research note on Friday. Piper Jaffray Companies increased their price objective on Intuitive Surgical from $610.00 to $633.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Cantor Fitzgerald set a $620.00 price objective on Intuitive Surgical and gave the stock a “buy” rating in a research note on Friday, July 19th. Northland Securities set a $375.00 price objective on Intuitive Surgical and gave the stock a “sell” rating in a research note on Friday, July 19th. Finally, UBS Group increased their price objective on Intuitive Surgical from $560.00 to $590.00 and gave the stock a “neutral” rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $583.00.

Shares of NASDAQ ISRG traded up $36.85 during midday trading on Friday, hitting $566.25. The company’s stock had a trading volume of 2,302,938 shares, compared to its average volume of 574,302. The business’s 50 day moving average is $521.84 and its two-hundred day moving average is $517.32. Intuitive Surgical has a 12-month low of $430.24 and a 12-month high of $589.32. The firm has a market cap of $61.02 billion, a P/E ratio of 59.67, a price-to-earnings-growth ratio of 3.89 and a beta of 1.13.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Thursday, October 17th. The medical equipment provider reported $3.43 earnings per share for the quarter, topping the consensus estimate of $2.99 by $0.44. Intuitive Surgical had a return on equity of 18.77% and a net margin of 30.94%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the business posted $2.83 earnings per share. The company’s revenue for the quarter was up 22.5% on a year-over-year basis. As a group, research analysts expect that Intuitive Surgical will post 10.12 EPS for the current year.

In other Intuitive Surgical news, VP Jamie Samath sold 259 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $532.14, for a total transaction of $137,824.26. Following the sale, the vice president now owns 277 shares of the company’s stock, valued at approximately $147,402.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Curet Myriam sold 4,974 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $532.14, for a total value of $2,646,864.36. Following the sale, the executive vice president now directly owns 3,851 shares in the company, valued at approximately $2,049,271.14. The disclosure for this sale can be found here. Insiders have sold a total of 25,869 shares of company stock worth $13,664,252 in the last ninety days. Insiders own 1.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in ISRG. Nuveen Asset Management LLC boosted its position in Intuitive Surgical by 32,872.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,847,791 shares of the medical equipment provider’s stock valued at $969,259,000 after acquiring an additional 1,842,187 shares in the last quarter. Morgan Stanley boosted its position in Intuitive Surgical by 39.1% during the 2nd quarter. Morgan Stanley now owns 4,288,986 shares of the medical equipment provider’s stock valued at $2,249,785,000 after acquiring an additional 1,204,750 shares in the last quarter. Thoroughbred Financial Services LLC boosted its position in Intuitive Surgical by 101,543.0% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 864,982 shares of the medical equipment provider’s stock valued at $86,498,000 after acquiring an additional 864,131 shares in the last quarter. Coatue Management LLC bought a new stake in Intuitive Surgical during the 2nd quarter valued at $302,483,000. Finally, Vanguard Group Inc. boosted its position in Intuitive Surgical by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 8,826,059 shares of the medical equipment provider’s stock valued at $4,629,709,000 after acquiring an additional 169,521 shares in the last quarter. 85.90% of the stock is currently owned by institutional investors and hedge funds.

About Intuitive Surgical

Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. Its da Vinci Surgical System transforms the surgeon's natural hand movements outside the body into corresponding micro-movements inside the patient's body. The company's da Vinci Surgical System include surgeon's consoles, patient-side carts, 3-D vision systems, da Vinci skills simulators, da Vinci Xi integrated table motions, and Firefly fluorescence imaging products that enable surgeons to perform various surgical procedures, including gynecologic, urologic, general, cardiothoracic, and head and neck surgical procedures.

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Analyst Recommendations for Intuitive Surgical (NASDAQ:ISRG)

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