Intuitive Surgical (NASDAQ:ISRG) Reaches New 1-Year Low on Analyst Downgrade

Intuitive Surgical, Inc. (NASDAQ:ISRGGet Free Report)’s stock price hit a new 52-week low during trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $550.00 to $450.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Intuitive Surgical traded as low as $342.10 and last traded at $346.0910, with a volume of 1394898 shares changing hands. The stock had previously closed at $345.42.

A number of other research firms also recently weighed in on ISRG. Royal Bank Of Canada decreased their price target on Intuitive Surgical from $650.00 to $600.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Wells Fargo & Company reissued an “overweight” rating and issued a $487.00 target price (down from $654.00) on shares of Intuitive Surgical in a report on Friday. Piper Sandler restated an “overweight” rating and set a $470.00 target price (down from $580.00) on shares of Intuitive Surgical in a research report on Friday. Zacks Research cut shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, BTIG Research reduced their price objective on shares of Intuitive Surgical from $512.00 to $469.00 and set a “buy” rating for the company in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and a consensus target price of $523.46.

Check Out Our Latest Research Report on Intuitive Surgical

Insider Buying and Selling

In other news, SVP Iman Jeddi sold 5,625 shares of Intuitive Surgical stock in a transaction on Monday, June 1st. The stock was sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the completion of the transaction, the senior vice president owned 6,463 shares of the company’s stock, valued at $2,718,014.65. The trade was a 46.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following the completion of the sale, the executive vice president owned 5,720 shares in the company, valued at $2,426,080.80. This represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 7,169 shares of company stock valued at $3,059,135. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuitive Surgical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ISRG. Norges Bank acquired a new stake in Intuitive Surgical during the fourth quarter worth about $2,856,987,000. J. Stern & Co. LLP raised its holdings in shares of Intuitive Surgical by 18,504.6% in the 4th quarter. J. Stern & Co. LLP now owns 2,127,248 shares of the medical equipment provider’s stock worth $1,204,788,000 after purchasing an additional 2,115,814 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Intuitive Surgical by 1,043.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,342,121 shares of the medical equipment provider’s stock valued at $760,124,000 after purchasing an additional 1,224,734 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Intuitive Surgical by 95.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider’s stock valued at $970,635,000 after purchasing an additional 1,027,475 shares in the last quarter. Finally, Polen Capital Management LLC purchased a new stake in shares of Intuitive Surgical during the 4th quarter worth about $477,225,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

Intuitive Surgical Stock Performance

The stock has a fifty day moving average price of $415.28 and a 200-day moving average price of $467.12. The firm has a market cap of $122.12 billion, a PE ratio of 39.53, a PEG ratio of 2.80 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRGGet Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.08 by $0.42. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.62 billion. Intuitive Surgical had a net margin of 28.45% and a return on equity of 17.09%. Intuitive Surgical’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.81 earnings per share. As a group, equities analysts predict that Intuitive Surgical, Inc. will post 8.62 earnings per share for the current fiscal year.

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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