Sanford C. Bernstein Has Lowered Expectations for Intuitive Surgical (NASDAQ:ISRG) Stock Price

Intuitive Surgical (NASDAQ:ISRG) had its target price lowered by research analysts at Sanford C. Bernstein from $750.00 to $685.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the medical equipment provider’s stock. Sanford C. Bernstein’s price objective would indicate a potential upside of 98.31% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. TD Cowen cut their price objective on Intuitive Surgical from $585.00 to $520.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. Barclays set a $651.00 target price on Intuitive Surgical and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Truist Financial lowered their target price on Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating on the stock in a research note on Thursday. Zacks Research downgraded shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating for the company in a research report on Tuesday, June 2nd. 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $523.46.

Intuitive Surgical Stock Down 14.1%

Shares of NASDAQ ISRG opened at $345.42 on Friday. Intuitive Surgical has a twelve month low of $344.55 and a twelve month high of $603.88. The stock’s 50 day moving average price is $415.28 and its 200-day moving average price is $467.88. The company has a market capitalization of $122.33 billion, a PE ratio of 39.57, a PEG ratio of 2.81 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (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 analyst estimates of $2.62 billion. Intuitive Surgical had a return on equity of 17.09% and a net margin of 28.45%.Intuitive Surgical’s quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.81 earnings per share. As a group, research analysts expect that Intuitive Surgical will post 8.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Amy L. Ladd sold 119 shares of the stock in a transaction on Wednesday, April 29th. The stock was 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 represents a 49.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of Intuitive Surgical stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $420.55, for a total value of $2,365,593.75. Following the completion of the sale, the senior vice president directly owned 6,463 shares of the company’s stock, valued at approximately $2,718,014.65. This trade represents a 46.53% 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 sold 7,169 shares of company stock valued at $3,059,135 over the last ninety days. 0.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intuitive Surgical

Several institutional investors have recently added to or reduced their stakes in ISRG. Newbridge Financial Services Group Inc. lifted its stake in shares of Intuitive Surgical by 300.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 33 shares in the last quarter. Holos Integrated Wealth LLC bought a new position in Intuitive Surgical in the 4th quarter worth approximately $25,000. Olistico Wealth LLC purchased a new position in Intuitive Surgical in the 4th quarter valued at approximately $28,000. Laurel Wealth Advisors LLC purchased a new position in Intuitive Surgical in the 4th quarter valued at approximately $31,000. Finally, Turning Point Benefit Group Inc. raised its holdings in Intuitive Surgical by 833.3% during the 4th quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider’s stock valued at $32,000 after acquiring an additional 50 shares during the period. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical News Roundup

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.