Intuitive Surgical (NASDAQ:ISRG) Cut to “Hold” at Zacks Research

Zacks Research cut shares of Intuitive Surgical (NASDAQ:ISRG) from a strong-buy rating to a hold rating in a research report released on Wednesday morning,Zacks.com reports.

Other analysts have also issued reports about the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $615.00 target price on shares of Intuitive Surgical in a research report on Tuesday. Truist Financial raised their price target on shares of Intuitive Surgical from $590.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Erste Group Bank reaffirmed a “hold” rating on shares of Intuitive Surgical in a report on Wednesday, July 23rd. UBS Group increased their target price on Intuitive Surgical from $547.00 to $585.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Finally, Barclays cut their target price on Intuitive Surgical from $684.00 to $635.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Thirteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $595.95.

Intuitive Surgical Trading Up 1.3%

ISRG opened at $476.16 on Wednesday. The stock’s 50 day simple moving average is $504.42 and its 200-day simple moving average is $522.06. The stock has a market cap of $170.69 billion, a PE ratio of 66.41, a P/E/G ratio of 4.92 and a beta of 1.59. Intuitive Surgical has a 1 year low of $425.00 and a 1 year high of $616.00.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.26. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The business’s revenue was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.78 earnings per share. Equities analysts forecast that Intuitive Surgical will post 6.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Mark Brosius sold 216 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $563.11, for a total transaction of $121,631.76. Following the sale, the senior vice president owned 907 shares in the company, valued at approximately $510,740.77. This represents a 19.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary S. Guthart sold 2,800 shares of Intuitive Surgical stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $495.24, for a total value of $1,386,672.00. Following the completion of the transaction, the insider directly owned 18,520 shares of the company’s stock, valued at $9,171,844.80. This represents a 13.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,839 shares of company stock worth $7,896,972 in the last three months. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Intuitive Surgical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stance Capital LLC acquired a new position in shares of Intuitive Surgical during the second quarter worth approximately $1,372,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Intuitive Surgical in the second quarter valued at approximately $3,449,000. Advisory Services Network LLC raised its position in Intuitive Surgical by 4.2% in the 2nd quarter. Advisory Services Network LLC now owns 26,752 shares of the medical equipment provider’s stock worth $14,537,000 after purchasing an additional 1,073 shares during the last quarter. Anchor Investment Management LLC lifted its holdings in Intuitive Surgical by 487.0% during the 2nd quarter. Anchor Investment Management LLC now owns 5,618 shares of the medical equipment provider’s stock worth $3,053,000 after buying an additional 4,661 shares in the last quarter. Finally, Delos Wealth Advisors LLC acquired a new position in Intuitive Surgical during the 2nd quarter worth $114,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

Intuitive Surgical Company Profile

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.