Analysts at JPMorgan Chase & Co. reiterated a Buy rating on shares of Intuitive Surgical Inc. (NASDAQ: ISRG) in a reserach note to investors, making it one of the more closely watched stocks on Wall Street.JPMorgan Chase & Co. currently has a rating of Buy on the shares. The one-year price target of $741.71 is higher than the opening price of $696.18, resulting a number of other analysts to comment on the stock in recent days. Looking back over the last year, Intuitive Surgical Inc. stock has a high of $720.01. Stock prices often move to the upside on recommendations and new price targets of professional analysts.
U.S. stocks on Monday closed mostly flat, after trading firmly higher, in a volatile session ahead of the start of a pair of closely watched central-bank policy meetings.
The Dow Jones Industrial Average DJIA, -0.02% closed down 3.63 points at 18,120.17.
The blue-chip gauge had been up by as much as 131 points earlier and traded within a 162-point range.
The S&P 500 SPX, +0.00% slipped 0.04 points to close at 2,139.12, after trading within an 18-point range
Meanwhile, the Nasdaq Composite Index COMP, -0.18% declined 9.54 points, or 0.2%, to close at 5,235.03.
Earlier, the index had been up by as many as 37 points and traded with a 58-point range
Shares of Intuitive Surgical Inc. (NASDAQ: ISRG) opened at $696.18 yesterday and traded in a range between, $694.71 and $700.60, and last traded at $699.99, which represents an increase of $6.44 over the previous closing price.
Intuitive Surgical Inc. (NASDAQ: ISRG) now has a market cap of 26.94B.
The stock’s average daily volume is 255,334 shares out of a total float 37,867,000 and some 66,798 shares crossed the trading desk yesterday, 9 percent lower than normal. Investors often use increases in trading volume to pinpoint substantial volume accumulation or distribution by institutional investors, so trading volume is likely to increase in the next few days.
However, just a day of high volume buy side trading is not enough to affirm a trend. So market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have teams of analysts researching thousands of stocks, so it is good corroboration to see them buying a stock you’re researching.
By tracking the activity of these professional investors—and the moving averages they influence— traders can make educated trades.
Trades for Intuitive Surgical Inc. (NASDAQ: ISRG) have ranged from $447.00 – 720.01, and the stock now has a 50-day MA of $688.34 and 200-day MA of $647.09. Today’s last price is 0.03% under the 52 week high of $720.01.
Earnings growth is a crucial factor to consider when investing in stocks and investors seek companies that have been successful at growing their earnings by at least 25% over 3 consecutive years.
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