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

Intuitive Surgical (NASDAQ:ISRG) had its price objective decreased by investment analysts at Truist Financial from $580.00 to $510.00 in a note issued to investors on Thursday, MarketBeat reports. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. Truist Financial’s price objective would indicate a potential upside of 47.65% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Zacks Research downgraded shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Wall Street Zen upgraded shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Piper Sandler reissued an “overweight” rating and issued a $580.00 price target on shares of Intuitive Surgical in a research report on Tuesday, June 2nd. Royal Bank Of Canada dropped their price target on shares of Intuitive Surgical from $650.00 to $600.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Finally, Citigroup reaffirmed a “buy” rating on shares of Intuitive Surgical in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Intuitive Surgical presently has an average rating of “Moderate Buy” and a consensus price target of $523.46.

Intuitive Surgical Price Performance

Shares of ISRG opened at $345.42 on Thursday. Intuitive Surgical has a 1 year low of $344.55 and a 1 year high of $603.88. The stock’s fifty day moving average price is $415.28 and its two-hundred day moving average price is $467.88. The firm has a market cap of $122.33 billion, a PE ratio of 39.57, a PEG ratio of 3.27 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a return on equity of 17.09% and a net margin of 28.45%.The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the prior year, the company earned $1.81 EPS. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. Sell-side analysts anticipate that Intuitive Surgical will post 8.57 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Gary Loeb sold 400 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president owned 5,720 shares of the company’s stock, valued at approximately $2,426,080.80. The trade was a 6.54% decrease in their ownership of the stock. The sale 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, Director Amy L. Ladd sold 119 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total transaction of $55,156.50. Following the transaction, the director directly owned 120 shares of the company’s stock, valued at approximately $55,620. This represents a 49.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 7,169 shares of company stock worth $3,059,135 over the last ninety days. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Intuitive Surgical in the fourth quarter worth approximately $2,856,987,000. J. Stern & Co. LLP lifted its position in Intuitive Surgical by 18,504.6% during the fourth quarter. J. Stern & Co. LLP now owns 2,127,248 shares of the medical equipment provider’s stock valued at $1,204,788,000 after purchasing an additional 2,115,814 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Intuitive Surgical by 1,043.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,342,121 shares of the medical equipment provider’s stock worth $760,124,000 after buying an additional 1,224,734 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Intuitive Surgical by 95.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider’s stock worth $970,635,000 after buying an additional 1,027,475 shares in the last quarter. Finally, Polen Capital Management LLC bought a new position in shares of Intuitive Surgical in the 4th quarter worth $477,225,000. 83.64% of the stock is owned by institutional investors.

Key Stories 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.