Intuitive Surgical (NASDAQ:ISRG) Price Target Cut to $500.00 by Analysts at Robert W. Baird

Intuitive Surgical (NASDAQ:ISRG) had its price objective reduced by Robert W. Baird from $525.00 to $500.00 in a research note issued to investors on Friday, Marketbeat.com reports. They currently have an outperform rating on the medical equipment provider’s stock.

A number of other equities research analysts have also recently issued reports on ISRG. Truist Financial cut their price objective on shares of Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating for the company in a research note on Thursday. Citigroup reiterated a “buy” rating on shares of Intuitive Surgical in a research report on Wednesday, July 8th. Sanford C. Bernstein lowered their price target on shares of Intuitive Surgical from $750.00 to $685.00 and set an “outperform” rating for the company in a research note on Friday. BTIG Research set a $512.00 price objective on Intuitive Surgical in a report on Monday. Finally, Jefferies Financial Group reduced their price target on Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating on the stock in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $523.46.

Intuitive Surgical Stock Down 14.1%

ISRG opened at $345.42 on Friday. The business’s fifty day simple moving average is $415.28 and its 200 day simple moving average is $467.88. Intuitive Surgical has a 52 week low of $344.55 and a 52 week high of $603.88. The stock has a market cap of $122.33 billion, a PE ratio of 39.57, a P/E/G ratio of 3.27 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.42. The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 23.0% compared to the same quarter last year. During the same period last year, the firm posted $1.81 EPS. As a group, equities analysts anticipate that Intuitive Surgical will post 8.57 earnings per share for the current year.

Insider Buying and Selling

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total value of $169,656.00. Following the completion of the transaction, the executive vice president directly owned 5,720 shares in the company, valued at $2,426,080.80. This represents a 6.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of Intuitive Surgical stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total transaction of $55,156.50. Following the sale, the director owned 120 shares in the company, valued at approximately $55,620. The trade was a 49.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 7,169 shares of company stock valued at $3,059,135. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of Intuitive Surgical

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC raised its position in shares of Intuitive Surgical by 24.9% during the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider’s stock valued at $1,916,000 after buying an additional 731 shares in the last quarter. Sivia Capital Partners LLC lifted its position in Intuitive Surgical by 3.8% in the second quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider’s stock worth $504,000 after buying an additional 34 shares during the last quarter. Schnieders Capital Management LLC. lifted its position in Intuitive Surgical by 38.0% in the second quarter. Schnieders Capital Management LLC. now owns 973 shares of the medical equipment provider’s stock worth $529,000 after buying an additional 268 shares during the last quarter. Osterweis Capital Management Inc. purchased a new position in Intuitive Surgical during the second quarter worth $200,000. Finally, Main Street Financial Solutions LLC boosted its stake in Intuitive Surgical by 92.4% during the second quarter. Main Street Financial Solutions LLC now owns 2,929 shares of the medical equipment provider’s stock worth $1,592,000 after buying an additional 1,407 shares during the period. 83.64% of the stock is currently owned by institutional investors.

Key Stories Impacting Intuitive Surgical

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.