Intuitive Surgical (NASDAQ:ISRG) Price Target Cut to $469.00 by Analysts at BTIG Research

Intuitive Surgical (NASDAQ:ISRG) had its target price reduced by BTIG Research from $512.00 to $469.00 in a research report report published on Friday morning, MarketBeat Ratings reports. BTIG Research currently has a buy rating on the medical equipment provider’s stock.

Several other equities research analysts have also issued reports on the company. BMO Capital Markets initiated coverage on Intuitive Surgical in a research report on Wednesday, July 8th. They set an “outperform” rating and a $518.00 target price for the company. Robert W. Baird cut their price target on shares of Intuitive Surgical from $525.00 to $500.00 and set an “outperform” rating on the stock in a report on Friday. Evercore set a $430.00 price target on shares of Intuitive Surgical in a research report on Monday, July 6th. The Goldman Sachs Group set a $558.00 price objective on shares of Intuitive Surgical in a report on Wednesday, May 27th. Finally, Truist Financial lowered their price objective on shares of Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $523.46.

Intuitive Surgical Stock Down 14.1%

Shares of NASDAQ ISRG opened at $345.42 on Friday. The company has a market capitalization of $122.33 billion, a PE ratio of 39.57, a PEG ratio of 3.27 and a beta of 1.46. The stock’s 50 day moving average price is $415.28 and its 200-day moving average price is $467.88. Intuitive Surgical has a twelve month low of $344.55 and a twelve month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.42. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. Intuitive Surgical had a return on equity of 17.09% and a net margin of 28.45%.Intuitive Surgical’s revenue was up 23.0% on a year-over-year basis. During the same period last year, the business posted $1.81 earnings per share. As a group, research analysts expect that Intuitive Surgical will post 8.57 EPS for the current fiscal year.

Insider Buying and Selling at Intuitive Surgical

In other news, EVP Gary Loeb sold 400 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total value of $169,656.00. Following the transaction, the executive vice president owned 5,720 shares of the company’s stock, valued at approximately $2,426,080.80. This represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 500 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $473.46, for a total value of $236,730.00. Following the completion of the sale, the director owned 239 shares in the company, valued at $113,156.94. This trade represents a 67.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,169 shares of company stock valued at $3,059,135 in the last three months. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Holos Integrated Wealth LLC bought a new position in shares of Intuitive Surgical during the 4th quarter valued at about $25,000. Newbridge Financial Services Group Inc. lifted its position in Intuitive Surgical by 300.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 33 shares during the last quarter. Olistico Wealth LLC purchased a new stake in Intuitive Surgical in the fourth quarter worth approximately $28,000. Main Street Group LTD purchased a new stake in Intuitive Surgical in the first quarter worth approximately $30,000. Finally, Laurel Wealth Advisors LLC bought a new position in Intuitive Surgical during the fourth quarter valued at approximately $31,000. 83.64% of the stock is currently owned by institutional investors.

More Intuitive Surgical News

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: Intuitive Surgical reported stronger-than-expected Q2 revenue and earnings, helped by solid demand for its da Vinci robotic surgery systems and continued adoption of its products. Reuters article
• Positive Sentiment: The company still reported healthy procedure growth overall, with worldwide procedures rising and placements of robotic systems remaining strong, which supports the long-term investment case. Yahoo Finance article
• Neutral Sentiment: Several analysts lowered price targets after the report, but most kept bullish ratings such as overweight, buy, or outperform, suggesting Wall Street still sees meaningful upside despite the near-term pullback. Benzinga article
• Negative Sentiment: Management did not raise its forecast for procedure growth, and investors reacted badly to slower U.S. procedure growth and a cautious full-year outlook. Benzinga article
• Negative Sentiment: Reuters also noted concerns that changes to some insurance plans could reduce demand, adding to worries about slower U.S. growth and a softer near-term procedure trajectory. Reuters article

Intuitive Surgical Company Profile

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.