Intuitive Surgical, Inc. (NASDAQ: ISRG) shares rose on Tuesday February 14 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock, raising the price target of stock.
Meanwhile U.S. stocks opened slightly lower on Tuesday. The main three benchmarks retreated after touching the latest in a series of record highs on Monday, with the S&P 500 index SPX, -0.09% down two points, or 0.1%, to 2,326.
The Dow Jones Industrial Average DJIA, -0.02% fell 34 points, or 0.2%, to 20,381. The Nasdaq Composite Index COMP, -0.13% shed eight points, or 0.1%, to 5,756.
Intuitive Surgical, Inc. (NASDAQ: ISRG) had its price target raised by equities researchers at Bank of America Corporation from $0.00 to $800.00. With a rating of on the stock, Intuitive Surgical, Inc. has a 52-week high of $727.25. As a means of comparison, a number of other analysts have commented on the stock in recent days, and the company has secured a consensus one-year price target of $742.86, higher than the opening price of $712.42, a difference of 10.39 percent.
Shares of Intuitive Surgical, Inc. (NASDAQ: ISRG) opened at $712.42 yesterday and traded in a range between, $710.25 and $716.58, and last traded at $715.07, which represents a jump of $4.37 compared to the previous closing price.
Intuitive Surgical, Inc. (NASDAQ: ISRG) currently has a market cap of 27.73B.
Intuitive Surgical, Inc. (NASDAQ: ISRG) Average Daily Trading Volume
45,423 shares traded hands yesterday, 36 percent below the norm, out of a total float 38,163,000. lower than normal. Look for trading volume to pick up in the coming days as investors often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
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 substantial teams of analysts that investigate thousands of stocks, so it is good corroboration to see them buying a stock you are researching.
Intuitive Surgical, Inc. (NASDAQ: ISRG) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
Trades for Intuitive Surgical, Inc. (NASDAQ: ISRG) have ranged from $517.21 – 727.25, and the stock now has a 50-day MA of $671.35 and 200-day MA of $675.21. Today’s last price is 1.67%% below the 52 week high of $727.25.
Earnings growth is an important factor to research when buying stocks and investors watch for companies that have raised their earnings by at least 25% for 3 consecutive years.
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