BTIG Research Lowers Intuitive Surgical (NASDAQ:ISRG) Price Target to $469.00

Intuitive Surgical (NASDAQ:ISRG) had its price target decreased by investment analysts at BTIG Research from $512.00 to $469.00 in a research note issued on Friday, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. BTIG Research’s price objective suggests a potential upside of 35.78% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. The Goldman Sachs Group set a $558.00 price objective on Intuitive Surgical in a research note on Wednesday, May 27th. Wall Street Zen raised Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Barclays set a $651.00 target price on Intuitive Surgical and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Citigroup restated a “buy” rating on shares of Intuitive Surgical in a research report on Wednesday, July 8th. Finally, Stifel Nicolaus set a $670.00 price target on Intuitive Surgical in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $523.46.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $345.42 on Friday. The firm’s 50 day moving average price is $415.28 and its two-hundred day moving average price 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 PEG ratio of 2.81 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results 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. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Intuitive Surgical had a net margin of 28.45% and a return on equity of 17.09%. The business’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.81 EPS. As a group, sell-side analysts predict that Intuitive Surgical will post 8.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Intuitive Surgical news, SVP Iman Jeddi sold 5,625 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $420.55, for a total value of $2,365,593.75. Following the completion of the transaction, the senior vice president directly owned 6,463 shares of the company’s stock, valued at approximately $2,718,014.65. The trade was a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the 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 completion of the sale, the executive vice president owned 5,720 shares of the company’s stock, valued at $2,426,080.80. This trade represents a 6.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 7,169 shares of company stock valued at $3,059,135. 0.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intuitive Surgical

Institutional investors and hedge funds have recently modified their holdings of the business. Newbridge Financial Services Group Inc. lifted its stake in Intuitive Surgical by 300.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 33 shares in the last quarter. Holos Integrated Wealth LLC bought a new stake in shares of Intuitive Surgical during the fourth quarter worth $25,000. Olistico Wealth LLC acquired a new stake in shares of Intuitive Surgical during the fourth quarter worth $28,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Intuitive Surgical during the fourth quarter worth $31,000. Finally, Turning Point Benefit Group Inc. lifted its position in Intuitive Surgical by 833.3% in the 4th quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider’s stock valued at $32,000 after acquiring an additional 50 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Surgical News Roundup

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.