Argus Issues Pessimistic Forecast for Intuitive Surgical (NASDAQ:ISRG) Stock Price

Intuitive Surgical (NASDAQ:ISRG) had its target price cut by Argus from $630.00 to $560.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. Argus’ price target suggests a potential upside of 17.57% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Evercore ISI lowered their price target on Intuitive Surgical from $580.00 to $550.00 and set an “in-line” rating for the company in a report on Friday, January 23rd. Robert W. Baird decreased their target price on shares of Intuitive Surgical from $655.00 to $645.00 and set an “outperform” rating on the stock in a research report on Friday, January 23rd. Raymond James Financial upped their price target on shares of Intuitive Surgical from $603.00 to $615.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Wall Street Zen raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Finally, Royal Bank Of Canada boosted their price objective on shares of Intuitive Surgical from $625.00 to $650.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Intuitive Surgical has an average rating of “Moderate Buy” and a consensus target price of $617.23.

Intuitive Surgical Stock Performance

ISRG stock opened at $476.32 on Wednesday. The company has a 50 day moving average price of $551.33 and a two-hundred day moving average price of $510.73. The stock has a market capitalization of $170.75 billion, a P/E ratio of 60.37, a PEG ratio of 3.71 and a beta of 1.65. Intuitive Surgical has a one year low of $425.00 and a one year high of $609.08.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.26. The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.72 billion. Intuitive Surgical had a return on equity of 15.06% and a net margin of 28.38%.The business’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.21 EPS. Research analysts forecast that Intuitive Surgical will post 6.43 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Henry L. Charlton sold 13,731 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $580.00, for a total value of $7,963,980.00. Following the completion of the sale, the executive vice president directly owned 3,056 shares in the company, valued at approximately $1,772,480. This represents a 81.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Craig H. Barratt sold 750 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $580.00, for a total value of $435,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 73,616 shares of company stock worth $40,929,575 in the last quarter. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Intuitive Surgical

A number of institutional investors and hedge funds have recently bought and sold shares of ISRG. Newbridge Financial Services Group Inc. grew its holdings in Intuitive Surgical by 300.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 33 shares in the last quarter. Holos Integrated Wealth LLC purchased a new stake in shares of Intuitive Surgical during the fourth quarter worth about $25,000. Tobam lifted its stake in shares of Intuitive Surgical by 666.7% in the second quarter. Tobam now owns 46 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 40 shares in the last quarter. Kilter Group LLC purchased a new position in Intuitive Surgical in the second quarter valued at about $27,000. Finally, Olistico Wealth LLC acquired a new stake in Intuitive Surgical during the 4th quarter valued at approximately $28,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

About Intuitive Surgical

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.