Argus Has Lowered Expectations for Intuitive Surgical (NASDAQ:ISRG) Stock Price

Intuitive Surgical (NASDAQ:ISRG) had its target price dropped by Argus from $630.00 to $560.00 in a research note issued to investors on Wednesday,MarketScreener reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. Argus’ price target would suggest a potential upside of 17.28% from the stock’s current price.

Several other research analysts have also issued reports on ISRG. Hsbc Global Res raised shares of Intuitive Surgical to a “strong-buy” rating in a research report on Thursday, October 23rd. Zacks Research lowered shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of Intuitive Surgical in a report on Monday, December 29th. HSBC raised their price target on Intuitive Surgical from $644.00 to $653.00 and gave the company a “buy” rating in a report on Monday, January 26th. Finally, Robert W. Baird reduced their price objective on Intuitive Surgical from $655.00 to $645.00 and set an “outperform” rating on the stock in a research note on Friday, January 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $617.23.

Intuitive Surgical Stock Down 0.2%

Intuitive Surgical stock traded down $1.01 during mid-day trading on Wednesday, reaching $477.48. The company had a trading volume of 1,780,802 shares, compared to its average volume of 2,196,473. The firm has a market cap of $171.17 billion, a price-to-earnings ratio of 60.45, a PEG ratio of 3.72 and a beta of 1.65. The company has a 50 day moving average of $553.29 and a 200-day moving average of $510.97. Intuitive Surgical has a 52 week low of $425.00 and a 52 week high of $609.08.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Thursday, January 22nd. The medical equipment provider reported $2.53 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.26. Intuitive Surgical had a net margin of 28.38% and a return on equity of 15.06%. The business had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.72 billion. During the same quarter in the prior year, the business earned $2.21 earnings per share. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. On average, analysts predict that Intuitive Surgical will post 6.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Intuitive Surgical news, EVP Henry L. Charlton sold 13,731 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $580.00, for a total transaction of $7,963,980.00. Following the completion of the sale, the executive vice president owned 3,056 shares in the company, valued at approximately $1,772,480. The trade was a 81.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Brian Edward Miller sold 3,500 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $575.00, for a total value of $2,012,500.00. Following the completion of the transaction, the executive vice president directly owned 5,758 shares in the company, valued at approximately $3,310,850. This trade represents a 37.81% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 73,616 shares of company stock worth $40,929,575. 0.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intuitive Surgical

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tobam raised its holdings in Intuitive Surgical by 666.7% in the second quarter. Tobam now owns 46 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 40 shares during the period. Holos Integrated Wealth LLC bought a new stake in shares of Intuitive Surgical in the 4th quarter valued at $25,000. Newbridge Financial Services Group Inc. raised its stake in 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 during the period. Kilter Group LLC bought a new position in Intuitive Surgical during the second quarter worth about $27,000. Finally, Greykasell Wealth Strategies Inc. bought a new position in Intuitive Surgical during the third quarter worth about $27,000. Institutional investors own 83.64% of the company’s stock.

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.