Leerink Partners Has Lowered Expectations for Intuitive Surgical (NASDAQ:ISRG) Stock Price

Intuitive Surgical (NASDAQ:ISRG) had its price objective dropped by stock analysts at Leerink Partners from $573.00 to $454.00 in a research note issued to investors on Friday, Marketbeat reports. The brokerage presently has an “outperform” rating on the medical equipment provider’s stock. Leerink Partners’ price target would suggest a potential upside of 31.43% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Wall Street Zen raised Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. TD Cowen decreased their price target on Intuitive Surgical from $585.00 to $520.00 and set a “buy” rating for the company in a report on Monday, July 13th. Barclays set a $651.00 price objective on Intuitive Surgical and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Zacks Research downgraded Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, BTIG Research set a $512.00 price objective on Intuitive Surgical in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Intuitive Surgical has a consensus rating of “Moderate Buy” and a consensus price target of $523.46.

Intuitive Surgical Stock Down 14.1%

NASDAQ ISRG opened at $345.42 on Friday. Intuitive Surgical has a 52 week low of $344.55 and a 52 week high of $603.88. The stock has a market capitalization of $122.33 billion, a PE ratio of 39.57, a price-to-earnings-growth ratio of 2.81 and a beta of 1.46. The firm has a 50 day moving average of $415.28 and a two-hundred day moving average of $467.88.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.45% and a return on equity of 17.09%. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the prior year, the firm posted $1.81 EPS. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. On average, equities research analysts expect that Intuitive Surgical will post 8.62 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Gary Loeb sold 400 shares of the 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 owned 5,720 shares in the company, valued at $2,426,080.80. This represents a 6.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 firm’s stock in a transaction 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 directly owned 6,463 shares in the company, valued at $2,718,014.65. The trade was a 46.53% 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. Insiders have sold 7,169 shares of company stock valued at $3,059,135 in the last ninety days. 0.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuitive Surgical

A number of hedge funds and other institutional investors have recently made changes to their positions in ISRG. Draper Asset Management LLC raised its position in shares of Intuitive Surgical by 41.9% during the 4th quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider’s stock worth $2,848,000 after purchasing an additional 1,485 shares during the period. Deutsche Bank AG boosted its position in Intuitive Surgical by 9.6% during the 4th quarter. Deutsche Bank AG now owns 1,522,191 shares of the medical equipment provider’s stock valued at $862,108,000 after purchasing an additional 132,966 shares during the period. Oppenheimer Asset Management Inc. grew its stake in Intuitive Surgical by 29.3% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider’s stock worth $40,255,000 after buying an additional 16,119 shares during the last quarter. Procyon Advisors LLC grew its stake in Intuitive Surgical by 787.8% during the 4th quarter. Procyon Advisors LLC now owns 4,794 shares of the medical equipment provider’s stock worth $2,715,000 after buying an additional 4,254 shares during the last quarter. Finally, Robinhood Asset Management LLC acquired a new stake in Intuitive Surgical in the fourth quarter worth $6,478,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical News Summary

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.