JPMorgan Chase & Co. Issues Pessimistic Forecast for Intuitive Surgical (NASDAQ:ISRG) Stock Price

Intuitive Surgical (NASDAQ:ISRG) had its price target dropped by research analysts at JPMorgan Chase & Co. from $550.00 to $450.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical equipment provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 30.28% from the stock’s current price.

Several other equities analysts have also recently issued reports on the stock. Mizuho set a $500.00 target price on shares of Intuitive Surgical and gave the company a “neutral” rating in a research note on Wednesday. Stifel Nicolaus reduced their price target on shares of Intuitive Surgical from $670.00 to $550.00 and set a “buy” rating for the company in a research note on Friday. BTIG Research decreased their price objective on shares of Intuitive Surgical from $512.00 to $469.00 and set a “buy” rating for the company in a report on Friday. 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. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $487.00 target price (down from $654.00) on shares of Intuitive Surgical in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $523.46.

Intuitive Surgical Trading Down 14.1%

Intuitive Surgical stock opened at $345.42 on Friday. Intuitive Surgical has a 12 month low of $344.55 and a 12 month high of $603.88. The stock has a fifty day simple moving average of $415.28 and a two-hundred day simple moving average of $467.88. The firm has a market cap of $122.33 billion, a price-to-earnings ratio of 39.57, a PEG ratio of 2.81 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a return on equity of 17.09% and a net margin of 28.45%.The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same period last year, the firm posted $1.81 earnings per share. Intuitive Surgical’s revenue was up 23.0% compared to the same quarter last year. On average, equities research analysts forecast that Intuitive Surgical will post 8.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intuitive Surgical news, Director Amy L. Ladd sold 500 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $473.46, for a total transaction of $236,730.00. Following the completion of the sale, the director directly owned 239 shares in the company, valued at $113,156.94. The trade was a 67.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total transaction of $169,656.00. Following the sale, the executive vice president directly owned 5,720 shares of the company’s stock, valued at $2,426,080.80. The trade was a 6.54% 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. Over the last three months, insiders have sold 7,169 shares of company stock valued at $3,059,135. Insiders own 0.60% of the company’s stock.

Institutional Trading of Intuitive Surgical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ISRG. Regent Peak Wealth Advisors LLC raised its position in Intuitive Surgical by 7.2% in the second quarter. Regent Peak Wealth Advisors LLC now owns 800 shares of the medical equipment provider’s stock worth $318,000 after acquiring an additional 54 shares during the period. Hyperion Asset Management Ltd grew its position in shares of Intuitive Surgical by 49.8% during the 2nd quarter. Hyperion Asset Management Ltd now owns 419,329 shares of the medical equipment provider’s stock valued at $166,759,000 after acquiring an additional 139,422 shares during the period. Northside Capital Management LLC bought a new stake in shares of Intuitive Surgical during the 2nd quarter valued at $669,000. Annex Advisory Services LLC increased its stake in shares of Intuitive Surgical by 37.4% in the 2nd quarter. Annex Advisory Services LLC now owns 90,943 shares of the medical equipment provider’s stock worth $36,166,000 after purchasing an additional 24,750 shares in the last quarter. Finally, Tema ETFs LLC increased its stake in shares of Intuitive Surgical by 28.8% in the 2nd quarter. Tema ETFs LLC now owns 9,704 shares of the medical equipment provider’s stock worth $3,859,000 after purchasing an additional 2,170 shares in the last quarter. 83.64% of the stock is owned by hedge funds and other 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

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.