Intuitive Surgical (ISRG) Given New $430.00 Price Target at Canaccord Genuity

Intuitive Surgical (NASDAQ:ISRG) had its price target hoisted by stock analysts at Canaccord Genuity from $410.00 to $430.00 in a report issued on Wednesday, MarketBeat reports. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. Canaccord Genuity’s price objective would indicate a potential downside of 7.07% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. Royal Bank of Canada set a $460.00 target price on Intuitive Surgical and gave the stock a “hold” rating in a report on Wednesday. Morgan Stanley lifted their target price on Intuitive Surgical from $500.00 to $525.00 and gave the stock an “overweight” rating in a report on Wednesday. Stifel Nicolaus lifted their target price on Intuitive Surgical from $480.00 to $515.00 and gave the stock a “buy” rating in a report on Wednesday. Leerink Swann reaffirmed an “outperform” rating and set a $510.00 target price (up previously from $475.00) on shares of Intuitive Surgical in a report on Wednesday. Finally, Cantor Fitzgerald lifted their target price on Intuitive Surgical to $510.00 and gave the stock an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $435.32.

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Shares of ISRG stock opened at $462.71 on Wednesday. Intuitive Surgical has a fifty-two week low of $267.62 and a fifty-two week high of $473.79. The stock has a market cap of $53,255.64, a PE ratio of 53.87, a price-to-earnings-growth ratio of 5.61 and a beta of 0.57.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Tuesday, April 17th. The medical equipment provider reported $2.44 EPS for the quarter, topping the Zacks’ consensus estimate of $2.07 by $0.37. Intuitive Surgical had a return on equity of 20.72% and a net margin of 23.25%. The firm had revenue of $848.00 million during the quarter, compared to the consensus estimate of $773.20 million. During the same quarter in the previous year, the company posted $5.09 earnings per share. The company’s revenue was up 25.8% compared to the same quarter last year. research analysts forecast that Intuitive Surgical will post 7.85 EPS for the current fiscal year.

In other Intuitive Surgical news, Director Mark J. Rubash sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $420.01, for a total value of $420,010.00. Following the completion of the transaction, the director now directly owns 4,453 shares of the company’s stock, valued at $1,870,304.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lonnie M. Smith sold 18,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $428.68, for a total value of $7,716,240.00. Following the completion of the transaction, the director now directly owns 511,410 shares of the company’s stock, valued at $219,231,238.80. The disclosure for this sale can be found here. Insiders sold 102,770 shares of company stock valued at $43,410,836 over the last three months. 2.20% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in ISRG. BlackRock Inc. increased its position in shares of Intuitive Surgical by 197.3% in the fourth quarter. BlackRock Inc. now owns 7,949,410 shares of the medical equipment provider’s stock valued at $2,901,058,000 after buying an additional 5,275,323 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Intuitive Surgical by 170.0% in the fourth quarter. Bank of New York Mellon Corp now owns 3,646,522 shares of the medical equipment provider’s stock valued at $1,330,761,000 after buying an additional 2,295,998 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Intuitive Surgical by 175.6% in the fourth quarter. Alliancebernstein L.P. now owns 1,692,967 shares of the medical equipment provider’s stock valued at $617,831,000 after buying an additional 1,078,675 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Intuitive Surgical by 236.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,440,600 shares of the medical equipment provider’s stock valued at $525,733,000 after buying an additional 1,012,000 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Intuitive Surgical by 245.6% in the fourth quarter. Geode Capital Management LLC now owns 1,333,109 shares of the medical equipment provider’s stock valued at $485,594,000 after buying an additional 947,379 shares in the last quarter. 87.89% of the stock is owned by institutional investors.

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Intuitive Surgical Company Profile

Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. The company's da Vinci surgical System translates a surgeon's natural hand movements, which are performed on instrument controls at a console into corresponding micro-movements of instruments positioned inside the patient through small incisions or ports.

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