Intuitive Surgical (NASDAQ:ISRG) Given New $450.00 Price Target at JPMorgan Chase & Co.

Intuitive Surgical (NASDAQ:ISRG) had its price target cut by JPMorgan Chase & Co. from $550.00 to $450.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an overweight rating on the medical equipment provider’s stock.

Several other analysts have also issued reports on the company. Leerink Partners cut their price objective on Intuitive Surgical from $573.00 to $454.00 and set an “outperform” rating for the company in a report on Friday. Weiss Ratings reissued a “hold (c)” rating on shares of Intuitive Surgical in a research report on Tuesday, May 19th. Evercore set a $430.00 price target on shares of Intuitive Surgical in a research note on Monday, July 6th. Robert W. Baird cut 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. Finally, The Goldman Sachs Group set a $558.00 price objective on shares of Intuitive Surgical in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $523.46.

Intuitive Surgical Stock Performance

Intuitive Surgical stock opened at $345.42 on Friday. The company has a 50 day moving average price of $415.28 and a 200 day moving average price of $467.88. Intuitive Surgical has a 52 week low of $344.55 and a 52 week high of $603.88. The firm has a market capitalization of $122.33 billion, a price-to-earnings ratio of 39.57, a P/E/G ratio of 3.27 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) 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 firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the prior year, the business earned $1.81 EPS. The business’s revenue for the quarter was up 23.0% on a year-over-year basis. Equities analysts forecast that Intuitive Surgical will post 8.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Iman Jeddi sold 5,625 shares of Intuitive Surgical stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $420.55, for a total transaction 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 $2,718,014.65. This trade represents a 46.53% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 119 shares of the business’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total transaction of $55,156.50. Following the completion of the transaction, the director owned 120 shares in the company, valued at approximately $55,620. This trade represents a 49.79% 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. Insiders sold 7,169 shares of company stock worth $3,059,135 in the last quarter. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of Intuitive Surgical

Several large investors have recently made changes to their positions in the business. Regent Peak Wealth Advisors LLC increased its stake in shares of Intuitive Surgical by 7.2% in the second quarter. Regent Peak Wealth Advisors LLC now owns 800 shares of the medical equipment provider’s stock valued at $318,000 after buying an additional 54 shares in the last quarter. Hyperion Asset Management Ltd raised its holdings in shares of Intuitive Surgical by 49.8% in the second quarter. Hyperion Asset Management Ltd now owns 419,329 shares of the medical equipment provider’s stock valued at $166,759,000 after buying an additional 139,422 shares during the last quarter. Northside Capital Management LLC acquired a new position in Intuitive Surgical during the 2nd quarter worth about $669,000. Annex Advisory Services LLC lifted its position in 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 buying an additional 24,750 shares in the last quarter. Finally, Tema ETFs LLC grew its holdings in 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 acquiring an additional 2,170 shares during the last quarter. Institutional investors own 83.64% of the company’s stock.

Key Intuitive Surgical News

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.