Bank of America Lowers Intuitive Surgical (NASDAQ:ISRG) Price Target to $520.00

Intuitive Surgical (NASDAQ:ISRG) had its price target cut by Bank of America from $650.00 to $520.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. Bank of America‘s price objective would suggest a potential upside of 18.97% from the stock’s current price.

A number of other equities research analysts also recently commented on ISRG. Robert W. Baird increased their price objective on Intuitive Surgical from $575.00 to $610.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Wall Street Zen upgraded Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Saturday. Citigroup upgraded Intuitive Surgical from a “neutral” rating to a “buy” rating and set a $590.00 target price for the company in a report on Wednesday, March 11th. Barclays set a $651.00 target price on Intuitive Surgical and gave the company an “overweight” rating in a report on Thursday, April 23rd. Finally, Leerink Partners reduced their price target on shares of Intuitive Surgical from $622.00 to $573.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. Nineteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $579.33.

Intuitive Surgical Trading Up 3.8%

Intuitive Surgical stock traded up $15.95 during mid-day trading on Monday, reaching $437.07. The company’s stock had a trading volume of 994,654 shares, compared to its average volume of 2,028,287. The firm has a market cap of $154.79 billion, a price-to-earnings ratio of 53.00, a PEG ratio of 3.36 and a beta of 1.51. The business has a 50 day moving average price of $463.63 and a 200-day moving average price of $513.77. Intuitive Surgical has a twelve month low of $417.74 and a twelve month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.81 earnings per share. On average, equities analysts expect that Intuitive Surgical will post 8.57 EPS for the current fiscal year.

Insider Activity at Intuitive Surgical

In other news, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $446.95, for a total value of $178,780.00. Following the transaction, the executive vice president directly owned 6,120 shares in the company, valued at approximately $2,735,334. The trade was a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Brosius sold 2,362 shares of Intuitive Surgical stock in a transaction dated Wednesday, March 4th. The stock was 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 in the company, valued at $1,772,308.72. The trade was a 39.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 5,647 shares of company stock valued at $2,760,359. Insiders own 0.60% of the company’s stock.

Institutional Trading of Intuitive Surgical

Hedge funds have recently bought and sold shares of the stock. Holos Integrated Wealth LLC acquired a new position in shares of Intuitive Surgical in the 4th quarter valued at $25,000. Newbridge Financial Services Group Inc. grew its position in Intuitive Surgical by 300.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 33 shares during the last quarter. Greykasell Wealth Strategies Inc. bought a new stake in Intuitive Surgical during the 3rd quarter worth about $27,000. Olistico Wealth LLC bought a new stake in Intuitive Surgical during the 4th quarter worth about $28,000. Finally, Caitlin John LLC bought a new stake in Intuitive Surgical during the 3rd quarter worth about $30,000. 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.