Intuitive Surgical (NASDAQ:ISRG) Price Target Lowered to $450.00 at Evercore ISI

Intuitive Surgical (NASDAQ:ISRG) had its target price cut by Evercore ISI from $535.00 to $450.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an in-line rating on the medical equipment provider’s stock.

Other equities analysts have also recently issued reports about the stock. Piper Sandler reiterated an “overweight” rating and issued a $595.00 target price (up from $575.00) on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. BTIG Research reiterated a “buy” rating and issued a $571.00 target price on shares of Intuitive Surgical in a research note on Wednesday, October 1st. Wells Fargo & Company upped their price objective on shares of Intuitive Surgical from $559.00 to $599.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Truist Financial upped their price objective on shares of Intuitive Surgical from $590.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Finally, Zacks Research cut shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. Fourteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $589.43.

Intuitive Surgical Price Performance

ISRG opened at $440.94 on Tuesday. The firm has a fifty day moving average price of $461.55 and a 200 day moving average price of $499.41. Intuitive Surgical has a 1 year low of $425.00 and a 1 year high of $616.00. The stock has a market cap of $158.07 billion, a P/E ratio of 61.50, a P/E/G ratio of 4.71 and a beta of 1.61.

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

Insider Transactions at Intuitive Surgical

In other news, EVP Myriam Curet sold 4,500 shares of the company’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the completion of the sale, the executive vice president owned 353 shares of the company’s stock, valued at $173,845.44. This represents a 92.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amy L. Ladd sold 335 shares of the company’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $440.69, for a total transaction of $147,631.15. Following the sale, the director directly owned 739 shares of the company’s stock, valued at $325,669.91. The trade was a 31.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,224 shares of company stock valued at $21,716,492 over the last 90 days. 0.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intuitive Surgical

Hedge funds have recently modified their holdings of the company. Norges Bank purchased a new stake in Intuitive Surgical in the second quarter valued at $2,569,260,000. Nuveen LLC purchased a new stake in Intuitive Surgical in the first quarter valued at $1,715,899,000. Vanguard Group Inc. raised its position in Intuitive Surgical by 2.1% in the second quarter. Vanguard Group Inc. now owns 33,335,833 shares of the medical equipment provider’s stock valued at $18,115,025,000 after purchasing an additional 670,302 shares during the period. Goldman Sachs Group Inc. boosted its stake in Intuitive Surgical by 26.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,819,666 shares of the medical equipment provider’s stock worth $1,396,496,000 after buying an additional 584,375 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Intuitive Surgical by 20.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,393,951 shares of the medical equipment provider’s stock worth $1,680,922,000 after buying an additional 566,979 shares during the period. Hedge funds and other institutional investors own 83.64% of the company’s stock.

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.