Intuitive Surgical (NASDAQ:ISRG) Share Price Breaks Below 200-Day Moving Average – Here’s What Happened

Intuitive Surgical, Inc. (NASDAQ:ISRG) shares crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $434.05 and traded as low as $431.19. Intuitive Surgical shares last traded at $432.01, with a volume of 3,480,760 shares.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wall Street Zen upgraded Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Saturday. Citigroup decreased their price target on Intuitive Surgical from $590.00 to $500.00 and set a “buy” rating for the company in a report on Friday, July 17th. Evercore set a $430.00 price target on Intuitive Surgical in a report on Monday, July 6th. UBS Group reissued a “buy” rating on shares of Intuitive Surgical in a research report on Tuesday, October 13th. Finally, BNP Paribas Exane upgraded Intuitive Surgical to an “outperform” rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $493.54.

Intuitive Surgical Stock Performance

The stock has a market cap of $149.75 billion, a PE ratio of 52.24, a price-to-earnings-growth ratio of 3.09 and a beta of 1.46. The company’s 50 day simple moving average is $401.54 and its 200 day simple moving average is $434.05.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Tuesday, October 20th. The medical equipment provider reported $3.00 EPS for the quarter, topping the consensus estimate of $2.65 by $0.35. Intuitive Surgical had a net margin of 25.54% and a return on equity of 18.17%. The firm had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.91 billion. During the same quarter last year, the firm earned $2.40 EPS. The company’s quarterly revenue was up 21.7% compared to the same quarter last year. Equities research analysts expect that Intuitive Surgical, Inc. will post 9.37 earnings per share for the current year.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, Director Gary S. Guthart sold 20,095 shares of the business’s stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $451.61, for a total value of $9,075,102.95. Following the transaction, the director owned 1,204,530 shares of the company’s stock, valued at approximately $543,977,793.30. The trade was a 1.64% decrease in their ownership of the stock. The transaction 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, VP Fredrik Widman sold 4,047 shares of the company’s stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $453.21, for a total value of $1,834,140.87. Following the completion of the transaction, the vice president owned 1,026 shares of the company’s stock, valued at $464,993.46. This trade represents a 79.78% 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 sold a total of 38,778 shares of company stock valued at $16,814,967 in the last ninety days. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Intuitive Surgical

Hedge funds and other institutional investors have recently made changes to their positions in the stock. North Point Portfolio Managers Corp OH purchased a new stake in shares of Intuitive Surgical during the 3rd quarter worth approximately $27,000. John Boyer Inc. bought a new stake in shares of Intuitive Surgical in the 3rd quarter worth approximately $27,000. Compass Wealth Management LLC bought a new stake in shares of Intuitive Surgical in the 3rd quarter worth approximately $29,000. Main Street Group LTD purchased a new position in Intuitive Surgical in the first quarter valued at approximately $30,000. Finally, Compass Financial Management LLC purchased a new position in Intuitive Surgical in the second quarter valued at approximately $30,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company’s primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.

The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.