Intuitive Surgical (NASDAQ:ISRG) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Intuitive Surgical (NASDAQ:ISRG) from a buy rating to a hold rating in a research report sent to investors on Sunday,Wall Street Zen reports.

Several other brokerages have also recently commented on ISRG. Royal Bank Of Canada decreased their price target on shares of Intuitive Surgical from $650.00 to $600.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Weiss Ratings restated a “hold (c)” rating on shares of Intuitive Surgical in a research report on Friday, August 14th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Intuitive Surgical in a report on Monday, July 20th. JPMorgan Chase & Co. decreased their target price on Intuitive Surgical from $550.00 to $450.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Finally, HSBC downgraded Intuitive Surgical from a “buy” rating to a “hold” rating and set a $391.00 target price on the stock. in a research report on Thursday, July 30th. Twenty-two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $508.68.

Intuitive Surgical Price Performance

ISRG stock opened at $393.33 on Friday. Intuitive Surgical has a 1-year low of $328.57 and a 1-year high of $603.88. The company has a market capitalization of $138.96 billion, a price-to-earnings ratio of 45.06, a PEG ratio of 2.97 and a beta of 1.47. The business has a 50 day simple moving average of $372.69 and a two-hundred day simple moving average of $419.17.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.32. Intuitive Surgical had a net margin of 28.45% and a return on equity of 16.91%. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same quarter last year, the business posted $1.81 earnings per share. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. Sell-side analysts anticipate that Intuitive Surgical will post 8.87 EPS for the current fiscal year.

Insider Buying and Selling

In other Intuitive Surgical news, Director Gary Guthart sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $400.00, for a total transaction of $4,000,000.00. Following the sale, the director directly owned 1,245,679 shares of the company’s stock, valued at $498,271,600. The trade was a 0.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $379.00, for a total value of $151,600.00. Following the completion of the transaction, the executive vice president owned 5,320 shares of the company’s stock, valued at approximately $2,016,280. This trade represents a 6.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 12,370 shares of company stock valued at $4,891,989 in the last quarter. 0.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intuitive Surgical

Several hedge funds and other institutional investors have recently made changes to their positions in ISRG. Anchor Investment Management LLC boosted its stake in shares of Intuitive Surgical by 12.3% during the 2nd quarter. Anchor Investment Management LLC now owns 7,408 shares of the medical equipment provider’s stock worth $2,946,000 after purchasing an additional 809 shares during the period. ABS Direct Equity Fund LLC raised its position in Intuitive Surgical by 120.8% in the 2nd quarter. ABS Direct Equity Fund LLC now owns 795 shares of the medical equipment provider’s stock worth $316,000 after purchasing an additional 435 shares during the period. Rench Wealth Management Inc. raised its position in Intuitive Surgical by 2.0% in the 2nd quarter. Rench Wealth Management Inc. now owns 15,743 shares of the medical equipment provider’s stock worth $6,261,000 after purchasing an additional 311 shares during the period. IPG Investment Advisors LLC bought a new stake in Intuitive Surgical in the second quarter worth about $218,000. Finally, National Pension Service lifted its stake in Intuitive Surgical by 3.1% in the second quarter. National Pension Service now owns 749,814 shares of the medical equipment provider’s stock worth $298,186,000 after purchasing an additional 22,372 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc is a medical technology company that develops and manufactures robotic-assisted surgical systems and related products. Its technology is designed to support surgeons during minimally invasive procedures by providing enhanced visualization, instrument control and dexterity.

The company’s principal product is the da Vinci Surgical System, which is used across a range of specialties, including general surgery, urology, gynecology, cardiothoracic surgery and other procedures.