Intuitive Surgical (NASDAQ:ISRG) Cut to “Hold” at Wall Street Zen

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

Several other research firms have also recently weighed in on ISRG. Leerink Partners lowered 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, July 17th. Bank of America reduced their price objective on Intuitive Surgical from $520.00 to $515.00 in a report on Friday, June 12th. The Goldman Sachs Group set a $558.00 target price on Intuitive Surgical in a research report on Wednesday, May 27th. BTIG Research reiterated a “buy” rating and set a $469.00 target price on shares of Intuitive Surgical in a research note on Tuesday, September 8th. Finally, TD Cowen cut Intuitive Surgical from a “buy” rating to a “hold” rating in a report on Tuesday, July 28th. Twenty-two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $508.68.

Intuitive Surgical Price Performance

Shares of Intuitive Surgical stock opened at $402.09 on Friday. The business has a fifty day simple moving average of $373.03 and a two-hundred day simple moving average of $417.79. 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 $142.05 billion, a price-to-earnings ratio of 46.06, a P/E/G ratio of 3.03 and a beta of 1.47.

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

Insider Activity

In related news, Director Amy Ladd sold 72 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $393.10, for a total value of $28,303.20. Following the transaction, the director owned 179 shares in the company, valued at approximately $70,364.90. This trade represents a 28.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were 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 directly 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. In the last quarter, insiders sold 12,370 shares of company stock worth $4,891,989. 0.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Intuitive Surgical by 1.0% during the 4th quarter. State Street Corp now owns 15,701,591 shares of the medical equipment provider’s stock worth $8,892,753,000 after buying an additional 162,264 shares in the last quarter. Capital World Investors grew 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 acquiring an additional 127,526 shares during the last quarter. Norges Bank bought a new position in Intuitive Surgical in the fourth quarter valued at about $2,856,987,000. Invesco Ltd. raised its stake in Intuitive Surgical by 17.4% during the fourth quarter. Invesco Ltd. now owns 4,128,735 shares of the medical equipment provider’s stock worth $2,338,350,000 after acquiring an additional 611,268 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Intuitive Surgical by 3.3% during the first 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 acquiring an additional 116,292 shares in the last quarter. 83.64% of the stock is owned by institutional investors.

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.