Robert W. Baird Issues Pessimistic Forecast for Intuitive Surgical (NASDAQ:ISRG) Stock Price

Intuitive Surgical (NASDAQ:ISRG) had its target price dropped by analysts at Robert W. Baird from $525.00 to $500.00 in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage presently has an “outperform” rating on the medical equipment provider’s stock. Robert W. Baird’s target price points to a potential upside of 44.75% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Mizuho set a $500.00 price target on Intuitive Surgical and gave the company a “neutral” rating in a report on Wednesday. The Goldman Sachs Group set a $558.00 price objective on Intuitive Surgical in a report on Wednesday, May 27th. Royal Bank Of Canada cut their target price on shares of Intuitive Surgical from $650.00 to $600.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Truist Financial reduced their target price on shares of Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Leerink Partners lowered their price target on shares of Intuitive Surgical from $573.00 to $454.00 and set an “outperform” rating for the company in a research report on Friday. One investment 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 given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $523.46.

Intuitive Surgical Stock Performance

NASDAQ:ISRG opened at $345.42 on Friday. The company has a market cap of $122.33 billion, a price-to-earnings ratio of 39.57, a P/E/G ratio of 2.81 and a beta of 1.46. The stock’s fifty 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.

Intuitive Surgical (NASDAQ:ISRG) last released 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 return on equity of 17.09% and a net margin of 28.45%.The business’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period last year, the firm earned $1.81 EPS. On average, equities analysts predict that Intuitive Surgical will post 8.62 EPS for the current fiscal year.

Insider Activity at Intuitive Surgical

In other news, EVP Gary Loeb sold 400 shares of the business’s stock in a transaction on 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 500 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $473.46, for a total value of $236,730.00. Following the completion of the transaction, the director directly owned 239 shares of the company’s stock, valued at approximately $113,156.94. The trade was a 67.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 7,169 shares of company stock worth $3,059,135. 0.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuitive Surgical

Large investors have recently added to or reduced their stakes in the company. Holos Integrated Wealth LLC bought a new stake in shares of Intuitive Surgical in the fourth quarter valued at about $25,000. Newbridge Financial Services Group Inc. boosted its position in shares of Intuitive Surgical by 300.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 33 shares during the period. Olistico Wealth LLC bought a new position in shares of Intuitive Surgical during the fourth quarter worth about $28,000. Main Street Group LTD bought a new position in shares of Intuitive Surgical during the first quarter worth about $30,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in Intuitive Surgical in the 4th quarter valued at approximately $31,000. Institutional investors 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

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.