Argus Cuts Intuitive Surgical (NASDAQ:ISRG) Price Target to $560.00

Intuitive Surgical (NASDAQ:ISRG) had its price target cut by Argus from $630.00 to $560.00 in a report published on Wednesday,MarketScreener reports. They currently have a buy rating on the medical equipment provider’s stock.

ISRG has been the topic of several other research reports. Wall Street Zen raised Intuitive Surgical from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Intuitive Surgical in a report on Monday, December 29th. Piper Sandler reissued an “overweight” rating and issued a $620.00 price target (up from $610.00) on shares of Intuitive Surgical in a report on Friday, January 23rd. Leerink Partners boosted their target price on shares of Intuitive Surgical from $593.00 to $600.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Finally, Truist Financial raised their price target on shares of Intuitive Surgical from $620.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $617.23.

Intuitive Surgical Price Performance

ISRG opened at $488.15 on Wednesday. The firm has a market capitalization of $173.36 billion, a price-to-earnings ratio of 61.87, a PEG ratio of 3.70 and a beta of 1.65. Intuitive Surgical has a fifty-two week low of $425.00 and a fifty-two week high of $609.08. The company’s 50 day moving average price is $549.63 and its two-hundred day moving average price is $510.54.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 EPS for the quarter, beating the consensus estimate of $2.27 by $0.26. The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.72 billion. Intuitive Surgical had a return on equity of 15.06% and a net margin of 28.38%.The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.21 EPS. As a group, equities research analysts predict that Intuitive Surgical will post 6.43 EPS for the current year.

Insider Activity at Intuitive Surgical

In other news, SVP Mark Brosius sold 4,500 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $547.36, for a total transaction of $2,463,120.00. Following the completion of the transaction, the senior vice president directly owned 907 shares in the company, valued at $496,455.52. The trade was a 83.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian Edward Miller sold 3,500 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $575.00, for a total transaction of $2,012,500.00. Following the completion of the transaction, the executive vice president directly owned 5,758 shares in the company, valued at $3,310,850. The trade was a 37.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 73,616 shares of company stock valued at $40,929,575 in the last quarter. 0.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuitive Surgical

Several large investors have recently made changes to their positions in the business. Planning Alternatives Ltd. ADV purchased a new stake in Intuitive Surgical during the 4th quarter valued at $759,000. CFO4Life Group LLC bought a new stake in Intuitive Surgical during the fourth quarter valued at about $251,000. EverSource Wealth Advisors LLC increased its holdings in Intuitive Surgical by 23.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,885 shares of the medical equipment provider’s stock worth $1,067,000 after acquiring an additional 362 shares in the last quarter. Americana Partners LLC lifted its stake in shares of Intuitive Surgical by 93.9% during the 4th quarter. Americana Partners LLC now owns 7,520 shares of the medical equipment provider’s stock valued at $4,259,000 after buying an additional 3,642 shares in the last quarter. Finally, Nixon Peabody Trust Co. purchased a new position in shares of Intuitive Surgical in the fourth quarter valued at about $3,453,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

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.