Intuitive Surgical (NASDAQ:ISRG) Price Target Lowered to $454.00 at Leerink Partners

Intuitive Surgical (NASDAQ:ISRG) had its price target lowered by Leerink Partners from $573.00 to $454.00 in a research note published on Friday, MarketBeat.com reports. Leerink Partners currently has an outperform rating on the medical equipment provider’s stock.

ISRG has been the subject of several other reports. Raymond James Financial dropped their target price on shares of Intuitive Surgical from $615.00 to $577.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. BMO Capital Markets initiated coverage on shares of Intuitive Surgical in a report on Wednesday, July 8th. They set an “outperform” rating and a $518.00 price objective for the company. Robert W. Baird lifted their price objective on shares of Intuitive Surgical from $575.00 to $610.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Zacks Research lowered shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Truist Financial reduced their target price on Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and an average target price of $523.46.

Intuitive Surgical Stock Down 14.1%

Intuitive Surgical stock opened at $345.42 on Friday. The stock has a market cap of $122.33 billion, a price-to-earnings ratio of 39.57, a PEG ratio of 3.27 and a beta of 1.46. The business has a 50-day simple moving average of $415.28 and a 200 day simple moving average of $467.88. Intuitive Surgical has a 52 week low of $344.55 and a 52 week 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 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter last year, the company posted $1.81 EPS. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. On average, research analysts anticipate that Intuitive Surgical will post 8.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Iman Jeddi sold 5,625 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $420.55, for a total value of $2,365,593.75. Following the completion of the sale, the senior vice president directly owned 6,463 shares in the company, valued at approximately $2,718,014.65. The trade was a 46.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 on Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total transaction of $169,656.00. Following the completion of the sale, the executive vice president directly owned 5,720 shares of the company’s stock, valued at $2,426,080.80. This trade represents 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 ninety days, insiders have sold 7,169 shares of company stock valued at $3,059,135. 0.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Intuitive Surgical

Several institutional investors have recently added to or reduced their stakes in ISRG. Newbridge Financial Services Group Inc. boosted 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 acquiring an additional 33 shares during the period. Holos Integrated Wealth LLC purchased a new stake in shares of Intuitive Surgical during the fourth quarter valued at approximately $25,000. Olistico Wealth LLC bought a new position in shares of Intuitive Surgical in the fourth quarter worth approximately $28,000. Laurel Wealth Advisors LLC purchased a new position in shares of Intuitive Surgical in the fourth quarter worth $31,000. Finally, Turning Point Benefit Group Inc. raised its holdings in Intuitive Surgical by 833.3% during the 4th quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider’s stock valued at $32,000 after buying an additional 50 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about 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

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.