Cantor Fitzgerald analyst Craig Bijou reiterated a Buy rating on Intuitive Surgical (NASDAQ: ISRG) today and set a price target of $510. The company’s shares closed yesterday at $487.39, close to its 52-week high of $496.92.
“We reiterate our Overweight rating and a 12-month price target of $510 on shares of ISRG. The acceleration of the installed base and procedure growth over the last year demonstrate clear momentum in the business. We think U.S. hernia repair and other U.S. general surgery procedures are only at the early stages of adoption and should provide meaningful incremental procedure growth for the next several years. Internationally, we expect sustainable 20+% procedure growth as countries expand the types of robotic procedures and overall greater robotic acceptance increases.”
According to TipRanks.com, Bijou is a 4-star analyst with an average return of 26.4% and a 67.7% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Integra Lifesciences, and Wright Medical Group.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Intuitive Surgical with a $465.71 average price target.
The company has a one-year high of $496.92 and a one-year low of $307. Currently, Intuitive Surgical has an average volume of 801.7K.
Based on the recent corporate insider activity of 97 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2018, Curet Myriam, the EVP & Chief Medical Officer of ISRG sold 8,078 shares for a total of $3,809,262.
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Intuitive Surgical, Inc. engages in the development, manufacture, and marketing of da Vinci Surgical Systems, and related instruments and accessories for invasive surgery. The company was founded by Frederic H. Moll, John Gordon Freund, and Robert G. Younge in November 1995 and is headquartered in Sunnyvale, CA.