Intuitive Surgical (NASDAQ:ISRG) Price Target Lowered to $600.00 at Royal Bank Of Canada

Intuitive Surgical (NASDAQ:ISRG) had its price target dropped by stock analysts at Royal Bank Of Canada from $650.00 to $600.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the medical equipment provider’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 47.01% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Bank of America reduced their price target on shares of Intuitive Surgical from $520.00 to $515.00 in a research report on Friday, June 12th. Zacks Research lowered shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. JPMorgan Chase & Co. dropped their target price on shares of Intuitive Surgical from $625.00 to $550.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 22nd. Jefferies Financial Group reduced 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, April 22nd. Finally, The Goldman Sachs Group set a $558.00 price target on shares of Intuitive Surgical in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Intuitive Surgical currently has a consensus rating of “Moderate Buy” and an average target price of $564.72.

Intuitive Surgical Stock Up 0.3%

ISRG stock traded up $1.34 during midday trading on Monday, hitting $408.12. The company’s stock had a trading volume of 378,337 shares, compared to its average volume of 2,157,245. The stock’s 50-day moving average price is $422.09 and its 200 day moving average price is $473.91. Intuitive Surgical has a 1 year low of $396.68 and a 1 year high of $603.88. The stock has a market cap of $144.54 billion, a price-to-earnings ratio of 49.55, a PEG ratio of 3.31 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data 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. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the prior year, the company earned $1.81 EPS. The business’s revenue for the quarter was up 23.0% on a year-over-year basis. As a group, equities analysts forecast that Intuitive Surgical will post 8.57 earnings per share for the current fiscal year.

Insider Transactions at Intuitive Surgical

In related news, EVP Gary Loeb sold 400 shares of the 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 sale, the executive vice president owned 5,720 shares of the company’s stock, valued at approximately $2,426,080.80. This represents a 6.54% decrease in their position. The sale 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 Iman Jeddi sold 5,625 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $420.55, for a total value 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 approximately $2,718,014.65. This represents a 46.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 7,169 shares of company stock valued at $3,059,135 over the last three months. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Intuitive Surgical

A number of institutional investors and hedge funds have recently modified their holdings of the company. Regent Peak Wealth Advisors LLC boosted its position in shares of Intuitive Surgical by 7.2% in the second quarter. Regent Peak Wealth Advisors LLC now owns 800 shares of the medical equipment provider’s stock valued at $318,000 after acquiring an additional 54 shares during the period. Hyperion Asset Management Ltd increased its holdings in Intuitive Surgical by 49.8% during the 2nd quarter. Hyperion Asset Management Ltd now owns 419,329 shares of the medical equipment provider’s stock worth $166,759,000 after acquiring an additional 139,422 shares during the period. Northside Capital Management LLC bought a new stake in Intuitive Surgical during the 2nd quarter worth approximately $669,000. Annex Advisory Services LLC lifted its stake in Intuitive Surgical by 37.4% in the 2nd quarter. Annex Advisory Services LLC now owns 90,943 shares of the medical equipment provider’s stock worth $36,166,000 after purchasing an additional 24,750 shares in the last quarter. Finally, Tema ETFs LLC lifted its stake in Intuitive Surgical by 28.8% in the 2nd quarter. Tema ETFs LLC now owns 9,704 shares of the medical equipment provider’s stock worth $3,859,000 after purchasing an additional 2,170 shares in the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

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.