Citigroup Issues Pessimistic Forecast for Intuitive Surgical (NASDAQ:ISRG) Stock Price

Intuitive Surgical (NASDAQ:ISRG) had its price target reduced by investment analysts at Citigroup from $590.00 to $500.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. Citigroup’s price objective indicates a potential upside of 44.75% from the company’s current price.

Several other analysts also recently commented on ISRG. BTIG Research reduced their target price on shares of Intuitive Surgical from $512.00 to $469.00 and set a “buy” rating for the company in a report on Friday. Robert W. Baird lowered their price target on shares of Intuitive Surgical from $525.00 to $500.00 and set an “outperform” rating on the stock in a report on Friday. Sanford C. Bernstein cut their price objective on shares of Intuitive Surgical from $750.00 to $685.00 and set an “outperform” rating for the company in a research report on Friday. Weiss Ratings restated a “hold (c)” rating on shares of Intuitive Surgical in a report on Tuesday, May 19th. Finally, HSBC decreased their target price on Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $523.46.

Intuitive Surgical Price Performance

ISRG stock opened at $345.42 on Friday. The company has a fifty day moving average price of $415.28 and a two-hundred day moving average price of $467.88. Intuitive Surgical has a one year low of $344.55 and a one year high of $603.88. The stock has a market cap of $122.33 billion, a price-to-earnings ratio of 39.57, a price-to-earnings-growth 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. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.62 billion. Intuitive Surgical had a net margin of 28.45% and a return on equity of 17.09%. The company’s quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.81 earnings per share. Research analysts anticipate that Intuitive Surgical will post 8.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were 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. The trade was a 6.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the transaction, the senior vice president 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 7,169 shares of company stock worth $3,059,135 in the last quarter. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intuitive Surgical

A number of large investors have recently added to or reduced their stakes in the stock. Regent Peak Wealth Advisors LLC increased its stake in Intuitive Surgical by 7.2% during the 2nd 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 lifted 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 grew its holdings in shares of Intuitive Surgical by 37.4% during 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 grew its holdings in shares of Intuitive Surgical by 28.8% during 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. Institutional investors and hedge funds own 83.64% of the company’s stock.

Key Headlines Impacting 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

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.