Truist Financial Issues Pessimistic Forecast for Intuitive Surgical (NASDAQ:ISRG) Stock Price

Intuitive Surgical (NASDAQ:ISRG) had its price objective reduced by investment analysts at Truist Financial from $666.00 to $605.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. Truist Financial’s target price would indicate a potential upside of 24.89% from the company’s current price.

Several other equities research analysts have also recently weighed in on the stock. Evercore ISI increased their price target on shares of Intuitive Surgical from $490.00 to $530.00 in a research report on Monday, January 27th. Royal Bank of Canada increased their price target on shares of Intuitive Surgical from $611.00 to $641.00 in a research report on Monday, January 27th. Wells Fargo & Company increased their price target on shares of Intuitive Surgical from $630.00 to $687.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Jefferies Financial Group raised their target price on shares of Intuitive Surgical from $475.00 to $575.00 in a research report on Monday, January 27th. Finally, Raymond James raised their target price on shares of Intuitive Surgical from $560.00 to $688.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $610.19.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG opened at $484.44 on Monday. The company’s fifty day moving average price is $567.46 and its 200-day moving average price is $531.94. The firm has a market capitalization of $172.55 billion, a price-to-earnings ratio of 75.58, a PEG ratio of 5.85 and a beta of 1.43. Intuitive Surgical has a one year low of $364.17 and a one year high of $616.00.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, CFO Jamie Samath sold 269 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $590.00, for a total value of $158,710.00. Following the completion of the transaction, the chief financial officer now directly owns 3,282 shares in the company, valued at $1,936,380. This represents a 7.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amal M. Johnson sold 4,635 shares of the company’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 transaction of $2,626,191.00. Following the completion of the transaction, the director now owns 12,275 shares of the company’s stock, valued at approximately $6,955,015. The trade was a 27.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,754 shares of company stock valued at $17,691,621. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Intuitive Surgical

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Intuitive Surgical by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 32,212,196 shares of the medical equipment provider’s stock worth $16,813,478,000 after purchasing an additional 360,591 shares during the period. State Street Corp boosted its position in shares of Intuitive Surgical by 1.4% during the third quarter. State Street Corp now owns 15,050,121 shares of the medical equipment provider’s stock worth $7,393,673,000 after acquiring an additional 210,363 shares during the last quarter. FMR LLC raised its stake in Intuitive Surgical by 8.3% during the third quarter. FMR LLC now owns 10,971,085 shares of the medical equipment provider’s stock valued at $5,389,765,000 after purchasing an additional 838,793 shares in the last quarter. Geode Capital Management LLC raised its stake in Intuitive Surgical by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 7,756,727 shares of the medical equipment provider’s stock valued at $4,039,200,000 after purchasing an additional 243,802 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in Intuitive Surgical by 1.8% during the fourth quarter. Fisher Asset Management LLC now owns 4,868,869 shares of the medical equipment provider’s stock valued at $2,541,356,000 after purchasing an additional 86,488 shares in the last quarter. 83.64% of the stock is currently owned by 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.