Stifel Nicolaus Lowers Intuitive Surgical (NASDAQ:ISRG) Price Target to $550.00

Intuitive Surgical (NASDAQ:ISRG) had its price target lowered by equities researchers at Stifel Nicolaus from $670.00 to $550.00 in a note issued to investors on Friday, Marketbeat.com reports. The firm currently has a “buy” rating on the medical equipment provider’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 59.23% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird dropped their price objective on shares of Intuitive Surgical from $525.00 to $500.00 and set an “outperform” rating on the stock in a research report on Friday. Bank of America decreased their price objective on shares of Intuitive Surgical from $520.00 to $515.00 in a research report on Friday, June 12th. Truist Financial lowered their target price on shares of Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating for the company in a research note on Thursday. Jefferies Financial Group dropped their target price on Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating on the stock in a report on Wednesday, April 22nd. Finally, BTIG Research cut their price target on Intuitive Surgical from $512.00 to $469.00 and set a “buy” rating on the stock in a research note 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, Intuitive Surgical has a consensus rating of “Moderate Buy” and an average target price of $523.46.

Intuitive Surgical Trading Down 14.1%

ISRG opened at $345.42 on Friday. The stock’s 50-day moving average price is $415.28 and its 200 day moving average price is $467.88. Intuitive Surgical has a 12-month low of $344.55 and a 12-month high of $603.88. The firm has a market cap of $122.33 billion, a price-to-earnings 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 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 the consensus estimate of $2.62 billion. Intuitive Surgical had a return on equity of 17.09% and a net margin of 28.45%.Intuitive Surgical’s revenue was up 23.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.81 EPS. On average, research analysts forecast that Intuitive Surgical will post 8.62 earnings per share for the current year.

Insider Transactions at Intuitive Surgical

In related news, EVP Gary Loeb sold 400 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following the transaction, the executive vice president owned 5,720 shares of the company’s stock, valued at $2,426,080.80. This trade represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 value of $55,156.50. Following the completion of the transaction, the director owned 120 shares in the company, valued at $55,620. This trade 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. Over the last quarter, insiders sold 7,169 shares of company stock worth $3,059,135. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Intuitive Surgical

A number of hedge funds and other institutional investors have recently bought and sold shares of ISRG. State Street Corp increased its stake in shares of Intuitive Surgical by 1.0% during the fourth quarter. State Street Corp now owns 15,701,591 shares of the medical equipment provider’s stock worth $8,892,753,000 after acquiring an additional 162,264 shares during the period. Capital World Investors lifted its position in Intuitive Surgical by 1.7% in the fourth quarter. Capital World Investors now owns 7,856,018 shares of the medical equipment provider’s stock valued at $4,449,491,000 after purchasing an additional 127,526 shares during the period. Norges Bank purchased a new stake in Intuitive Surgical in the 4th quarter valued at approximately $2,856,987,000. Invesco Ltd. increased its position in Intuitive Surgical by 17.4% during the 4th quarter. Invesco Ltd. now owns 4,128,735 shares of the medical equipment provider’s stock worth $2,338,350,000 after purchasing an additional 611,268 shares during the period. Finally, Bank of America Corp DE increased its position in Intuitive Surgical by 3.3% during the 1st quarter. Bank of America Corp DE now owns 3,616,973 shares of the medical equipment provider’s stock worth $1,667,388,000 after purchasing an additional 116,292 shares during the period. 83.64% of the stock is currently owned by hedge funds and other 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.