Intuitive Surgical (NASDAQ:ISRG) Price Target Cut to $604.00 by Analysts at HSBC

Intuitive Surgical (NASDAQ:ISRGGet Free Report) had its target price dropped by investment analysts at HSBC from $653.00 to $604.00 in a research note issued on Wednesday,MarketScreener reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. HSBC’s target price would suggest a potential upside of 25.52% from the stock’s previous close.

A number of other research analysts also recently issued reports on ISRG. Zacks Research downgraded shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Jefferies Financial Group decreased their target price on shares of Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating for the company in a research report on Wednesday. Truist Financial lowered their target price on shares of Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. BTIG Research reaffirmed a “buy” rating and issued a $574.00 price target on shares of Intuitive Surgical in a report on Wednesday. Finally, The Goldman Sachs Group increased their price objective on Intuitive Surgical from $609.00 to $621.00 and gave the company a “buy” rating in a report on Wednesday. Eighteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $581.91.

Read Our Latest Stock Report on Intuitive Surgical

Intuitive Surgical Stock Down 0.5%

Shares of NASDAQ ISRG traded down $2.41 during mid-day trading on Wednesday, reaching $481.21. 518,506 shares of the company were exchanged, compared to its average volume of 1,968,054. The stock has a market cap of $170.89 billion, a price-to-earnings ratio of 58.29, a P/E/G ratio of 3.52 and a beta of 1.68. Intuitive Surgical has a 1 year low of $427.84 and a 1 year high of $603.88. The firm has a 50-day moving average of $477.54 and a 200 day moving average of $515.41.

Intuitive Surgical (NASDAQ:ISRGGet Free Report) last posted its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.42. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.62 billion. Intuitive Surgical had a return on equity of 15.96% and a net margin of 28.15%.The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.81 earnings per share. On average, equities analysts forecast that Intuitive Surgical will post 8.16 earnings per share for the current year.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, SVP Mark Brosius sold 2,362 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $498.68, for a total value of $1,177,882.16. Following the completion of the transaction, the senior vice president owned 3,554 shares of the company’s stock, valued at approximately $1,772,308.72. This trade represents a 39.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Fredrik Widman sold 133 shares of Intuitive Surgical stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total transaction of $65,829.68. Following the sale, the vice president owned 660 shares of the company’s stock, valued at $326,673.60. The trade was a 16.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 32,943 shares of company stock worth $17,279,568 in the last three months. 0.60% of the stock is owned by company insiders.

Institutional Trading of Intuitive Surgical

Large investors have recently added to or reduced their stakes in the company. Holos Integrated Wealth LLC purchased a new position in shares of Intuitive Surgical in the fourth quarter worth about $25,000. Newbridge Financial Services Group Inc. increased its holdings in Intuitive Surgical by 300.0% in 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. Greykasell Wealth Strategies Inc. acquired a new position in Intuitive Surgical in the 3rd quarter worth approximately $27,000. Olistico Wealth LLC purchased a new position in Intuitive Surgical during the 4th quarter worth approximately $28,000. Finally, Caitlin John LLC acquired a new stake in Intuitive Surgical during the 3rd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

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Intuitive Surgical Company Profile

(Get Free Report)

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.

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