Intuitive Surgical (NASDAQ:ISRG – Free Report) had its target price cut by JPMorgan Chase & Co. from $550.00 to $450.00 in a research note published on Friday,Benzinga reports. They currently have an overweight rating on the medical equipment provider’s stock.
ISRG has been the subject of several other reports. Jefferies Financial Group dropped their price objective on Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating for the company in a research note on Wednesday, April 22nd. TD Cowen lowered their target price on Intuitive Surgical from $585.00 to $520.00 and set a “buy” rating on the stock in a report on Monday, July 13th. Bank of America cut their price target on Intuitive Surgical from $520.00 to $515.00 in a research note on Friday, June 12th. Stifel Nicolaus decreased their price objective on shares of Intuitive Surgical from $670.00 to $550.00 and set a “buy” rating on the stock in a research report on Friday. Finally, BMO Capital Markets started coverage on shares of Intuitive Surgical in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $518.00 price objective on the stock. 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 issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $523.46.
Check Out Our Latest Stock Report on ISRG
Intuitive Surgical Stock Performance
Intuitive Surgical (NASDAQ:ISRG – Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.42. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. Intuitive Surgical had a net margin of 28.45% and a return on equity of 17.09%. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period last year, the firm earned $1.81 EPS. Analysts predict that Intuitive Surgical will post 8.62 EPS for the current year.
Insider Activity at Intuitive Surgical
In related news, Director Amy L. Ladd sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $473.46, for a total transaction of $236,730.00. Following the sale, the director owned 239 shares in the company, valued at approximately $113,156.94. This trade represents a 67.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction that occurred on 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 directly owned 5,720 shares of the company’s stock, valued at $2,426,080.80. The trade was a 6.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 7,169 shares of company stock valued at $3,059,135. Company insiders own 0.60% of the company’s stock.
Institutional Investors Weigh In On Intuitive Surgical
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Draper Asset Management LLC boosted its position in shares of Intuitive Surgical by 41.9% in the fourth quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider’s stock worth $2,848,000 after acquiring an additional 1,485 shares during the last quarter. Deutsche Bank AG increased its position in Intuitive Surgical by 9.6% during the fourth quarter. Deutsche Bank AG now owns 1,522,191 shares of the medical equipment provider’s stock worth $862,108,000 after purchasing an additional 132,966 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in Intuitive Surgical by 29.3% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider’s stock worth $40,255,000 after purchasing an additional 16,119 shares during the last quarter. Procyon Advisors LLC raised its stake in Intuitive Surgical by 787.8% during the fourth quarter. Procyon Advisors LLC now owns 4,794 shares of the medical equipment provider’s stock worth $2,715,000 after purchasing an additional 4,254 shares during the period. Finally, Robinhood Asset Management LLC purchased a new position in Intuitive Surgical during the fourth quarter worth approximately $6,478,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.
Intuitive Surgical News Roundup
Here are the key news stories impacting Intuitive Surgical this week:
- Positive Sentiment: Intuitive Surgical reported stronger-than-expected Q2 revenue and earnings, helped by solid demand for its da Vinci robotic surgery systems and continued adoption of its products. Reuters article
- Positive Sentiment: The company still reported healthy procedure growth overall, with worldwide procedures rising and placements of robotic systems remaining strong, which supports the long-term investment case. Yahoo Finance article
- Neutral Sentiment: Several analysts lowered price targets after the report, but most kept bullish ratings such as overweight, buy, or outperform, suggesting Wall Street still sees meaningful upside despite the near-term pullback. Benzinga article
- Negative Sentiment: Management did not raise its forecast for procedure growth, and investors reacted badly to slower U.S. procedure growth and a cautious full-year outlook. Benzinga article
- Negative Sentiment: Reuters also noted concerns that changes to some insurance plans could reduce demand, adding to worries about slower U.S. growth and a softer near-term procedure trajectory. Reuters article
About Intuitive Surgical
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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