Intuitive Surgical (NASDAQ:ISRG) Hits New 12-Month Low – What’s Next?

Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) hit a new 52-week low on Monday . The company traded as low as $423.33 and last traded at $423.3410, with a volume of 988863 shares changing hands. The stock had previously closed at $450.06.

Wall Street Analyst Weigh In

ISRG has been the subject of a number of recent analyst reports. Zacks Research cut Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Piper Sandler reduced their price objective on shares of Intuitive Surgical from $620.00 to $580.00 and set an “overweight” rating for the company in a research note on Wednesday, April 22nd. Citigroup raised shares of Intuitive Surgical from a “neutral” rating to a “buy” rating and set a $590.00 price objective for the company in a report on Wednesday, March 11th. TD Cowen lowered their target price on shares of Intuitive Surgical from $660.00 to $585.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. Finally, Argus dropped their target price on shares of Intuitive Surgical from $630.00 to $560.00 and set a “buy” rating on the stock in a report on Wednesday, February 4th. Eighteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $581.91.

Intuitive Surgical Stock Down 6.7%

The firm has a market cap of $148.77 billion, a P/E ratio of 50.92, a price-to-earnings-growth ratio of 3.59 and a beta of 1.51. The stock’s 50-day moving average is $472.19 and its 200-day moving average is $517.39.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. 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 firm earned $1.81 EPS. The business’s revenue was up 23.0% on a year-over-year basis. As a group, analysts expect that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intuitive Surgical news, VP Fredrik Widman sold 133 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total value of $65,829.68. Following the completion of the sale, the vice president owned 660 shares in the company, valued at approximately $326,673.60. This trade represents a 16.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Patricia L. Wadors sold 220 shares of Intuitive Surgical stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $499.71, for a total value of $109,936.20. The SEC filing for this sale provides additional information. Insiders have sold 5,906 shares of company stock valued at $2,907,726 in the last quarter. 0.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ISRG. Draper Asset Management LLC increased its holdings in Intuitive Surgical by 41.9% during the 4th quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider’s stock valued at $2,848,000 after purchasing an additional 1,485 shares in the last quarter. Atlantic Union Bankshares Corp boosted its stake in Intuitive Surgical by 19.3% in the third quarter. Atlantic Union Bankshares Corp now owns 22,759 shares of the medical equipment provider’s stock worth $10,179,000 after purchasing an additional 3,676 shares in the last quarter. Valley Wealth Managers Inc. grew its holdings in shares of Intuitive Surgical by 52.7% during the third quarter. Valley Wealth Managers Inc. now owns 4,084 shares of the medical equipment provider’s stock worth $1,826,000 after purchasing an additional 1,409 shares during the last quarter. AGF Management Ltd. grew its holdings in shares of Intuitive Surgical by 0.6% during the third quarter. AGF Management Ltd. now owns 464,179 shares of the medical equipment provider’s stock worth $207,595,000 after purchasing an additional 2,575 shares during the last quarter. Finally, AE Wealth Management LLC increased its stake in shares of Intuitive Surgical by 18.9% in the third quarter. AE Wealth Management LLC now owns 11,556 shares of the medical equipment provider’s stock valued at $5,168,000 after buying an additional 1,836 shares in the last quarter. 83.64% of the stock is owned by institutional investors.

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.