BTIG Research Cuts Intuitive Surgical (NASDAQ:ISRG) Price Target to $469.00

Intuitive Surgical (NASDAQ:ISRG) had its price objective decreased by BTIG Research from $512.00 to $469.00 in a research report released on Friday morning, MarketBeat Ratings reports. BTIG Research currently has a buy rating on the medical equipment provider’s stock.

ISRG has been the subject of several other reports. Zacks Research lowered shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating on the stock in a research note on Tuesday, June 2nd. BMO Capital Markets began coverage on shares of Intuitive Surgical in a report on Wednesday, July 8th. They issued an “outperform” rating and a $518.00 target price for the company. Sanford C. Bernstein dropped their price target on shares of Intuitive Surgical from $750.00 to $685.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Leerink Partners cut their price target on shares of Intuitive Surgical from $573.00 to $454.00 and set an “outperform” rating on the stock in a report on Friday. One research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $523.46.

Intuitive Surgical Stock Performance

Shares of Intuitive Surgical stock opened at $345.42 on Friday. The stock has a market cap of $122.33 billion, a price-to-earnings ratio of 39.57, a price-to-earnings-growth ratio of 2.80 and a beta of 1.46. The stock has a 50 day moving average price of $415.28 and a 200-day moving average price of $467.12. Intuitive Surgical has a one year low of $344.55 and a one year high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly 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. 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 for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the prior year, the firm posted $1.81 EPS. Intuitive Surgical’s quarterly revenue was up 23.0% compared to the same quarter last year. Sell-side analysts predict that Intuitive Surgical will post 8.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Gary Loeb sold 400 shares of Intuitive Surgical 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $473.46, for a total value of $236,730.00. Following the completion of the sale, the director owned 239 shares of the company’s stock, valued at $113,156.94. The trade was a 67.66% decrease in their position. 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 have sold 7,169 shares of company stock worth $3,059,135 in the last three months. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ISRG. Holos Integrated Wealth LLC bought a new stake in Intuitive Surgical during the 4th quarter valued at $25,000. Newbridge Financial Services Group Inc. grew its position 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 worth $25,000 after buying an additional 33 shares in the last quarter. Olistico Wealth LLC bought a new position in shares of Intuitive Surgical during the 4th quarter worth $28,000. Main Street Group LTD purchased a new position in shares of Intuitive Surgical during the first quarter valued at $30,000. Finally, Laurel Wealth Advisors LLC purchased a new position in shares of Intuitive Surgical during the fourth quarter valued at $31,000. Institutional investors own 83.64% of the company’s stock.

More 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

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.