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

Wall Street Zen lowered shares of Intuitive Surgical (NASDAQ:ISRG) from a buy rating to a hold rating in a report issued on Saturday morning.

Other research analysts have also recently issued research reports about the stock. Piper Sandler set a $357.44 price target on shares of Intuitive Surgical in a report on Monday, July 27th. Bank of America dropped their price objective on shares of Intuitive Surgical from $520.00 to $515.00 in a report on Friday, June 12th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating on the stock in a research report on Tuesday, June 2nd. Robert W. Baird reduced their target price on shares of Intuitive Surgical from $525.00 to $500.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Intuitive Surgical in a report on Monday, July 20th. Twenty-two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Intuitive Surgical has an average rating of “Moderate Buy” and a consensus target price of $508.68.

Intuitive Surgical Price Performance

NASDAQ ISRG opened at $390.33 on Friday. Intuitive Surgical has a one year low of $328.57 and a one year high of $603.88. The firm has a market cap of $137.90 billion, a P/E ratio of 44.71, a P/E/G ratio of 2.85 and a beta of 1.47. The stock’s 50-day moving average is $390.88 and its 200-day moving average is $439.71.

Intuitive Surgical (NASDAQ:ISRG) last issued 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 return on equity of 16.91% and a net margin of 28.45%.The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same period in the previous year, the firm earned $1.81 EPS. Intuitive Surgical’s quarterly revenue was up 18.4% compared to the same quarter last year. Equities analysts anticipate that Intuitive Surgical will post 8.87 EPS for the current year.

Insider Buying and Selling at Intuitive Surgical

In other news, SVP Iman Jeddi sold 5,625 shares of Intuitive Surgical stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $420.55, for a total value of $2,365,593.75. Following the sale, the senior vice president directly owned 6,463 shares in the company, valued at $2,718,014.65. This trade represents a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 72 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $393.10, for a total transaction of $28,303.20. Following the completion of the sale, the director directly owned 179 shares in the company, valued at approximately $70,364.90. This represents a 28.69% 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 17,088 shares of company stock valued at $6,941,913 over the last ninety days. 0.60% 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 business. Public Employees Retirement System of Ohio bought a new stake in Intuitive Surgical during the 2nd quarter worth about $55,894,000. Blue Edge Capital LLC bought a new position in shares of Intuitive Surgical in the 2nd quarter valued at about $486,000. Bamco Inc. NY bought a new position in shares of Intuitive Surgical in the 2nd quarter valued at about $37,353,000. Ancora Advisors LLC acquired a new stake in shares of Intuitive Surgical in the second quarter valued at about $970,000. Finally, Jones Financial Companies Lllp acquired a new stake in shares of Intuitive Surgical in the second quarter valued at about $236,000. 83.64% of the stock is owned by institutional investors.

Intuitive Surgical Company Profile

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.