Intuitive Surgical (NASDAQ:ISRG) Given New $685.00 Price Target at Sanford C. Bernstein

Intuitive Surgical (NASDAQ:ISRG) had its target price lowered by Sanford C. Bernstein from $750.00 to $685.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an outperform rating on the medical equipment provider’s stock.

A number of other equities research analysts also recently issued reports on ISRG. Leerink Partners cut their price objective on shares of Intuitive Surgical from $622.00 to $573.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. Evercore set a $430.00 target price on shares of Intuitive Surgical in a report on Monday, July 6th. The Goldman Sachs Group set a $558.00 price target on shares of Intuitive Surgical in a report on Wednesday, May 27th. Citigroup restated a “buy” rating on shares of Intuitive Surgical in a research report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Intuitive Surgical from $625.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $523.46.

Intuitive Surgical Stock Performance

Shares of NASDAQ ISRG opened at $345.42 on Friday. The stock has a market cap of $122.33 billion, a PE ratio of 39.57, a price-to-earnings-growth ratio of 3.27 and a beta of 1.46. Intuitive Surgical has a fifty-two week low of $344.55 and a fifty-two week high of $603.88. The stock has a fifty day moving average of $415.28 and a 200-day moving average of $467.88.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.42. Intuitive Surgical had a return on equity of 17.09% and a net margin of 28.45%.The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the prior year, the firm posted $1.81 EPS. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. On average, sell-side analysts predict that Intuitive Surgical will post 8.57 EPS for the current year.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, Director Amy L. Ladd sold 119 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The stock was 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 $55,620. This trade represents a 49.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total value of $169,656.00. Following the sale, the executive vice president directly owned 5,720 shares of the company’s stock, valued at approximately $2,426,080.80. This trade represents a 6.54% 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. Insiders have sold 7,169 shares of company stock worth $3,059,135 over the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Intuitive Surgical

A number of hedge funds have recently made changes to their positions in the business. Riversedge Advisors LLC boosted its stake in Intuitive Surgical by 1.9% during the 4th quarter. Riversedge Advisors LLC now owns 901 shares of the medical equipment provider’s stock valued at $510,000 after purchasing an additional 17 shares during the last quarter. Prosperity Consulting Group LLC increased its holdings in Intuitive Surgical by 0.5% during the 3rd quarter. Prosperity Consulting Group LLC now owns 4,033 shares of the medical equipment provider’s stock worth $1,804,000 after purchasing an additional 19 shares in the last quarter. Fiduciary Financial Group LLC raised its stake in shares of Intuitive Surgical by 2.1% in the fourth quarter. Fiduciary Financial Group LLC now owns 920 shares of the medical equipment provider’s stock worth $521,000 after purchasing an additional 19 shares during the last quarter. Sunburst Financial Group LLC raised its stake in shares of Intuitive Surgical by 4.3% in the fourth quarter. Sunburst Financial Group LLC now owns 485 shares of the medical equipment provider’s stock worth $275,000 after purchasing an additional 20 shares during the last quarter. Finally, WoodTrust Financial Corp lifted its holdings in shares of Intuitive Surgical by 0.5% in the fourth quarter. WoodTrust Financial Corp now owns 4,180 shares of the medical equipment provider’s stock valued at $2,367,000 after purchasing an additional 20 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors.

Key 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.