Intuitive Surgical (NASDAQ:ISRG) Price Target Lowered to $573.00 at Leerink Partners

Intuitive Surgical (NASDAQ:ISRGFree Report) had its target price trimmed by Leerink Partners from $622.00 to $573.00 in a research report report published on Wednesday morning, Marketbeat reports. The brokerage currently has an outperform rating on the medical equipment provider’s stock.

Several other analysts also recently commented on the company. BTIG Research reaffirmed a “buy” rating and set a $574.00 price objective on shares of Intuitive Surgical in a research note on Wednesday. Argus reduced their price objective on Intuitive Surgical from $630.00 to $560.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. Barclays set a $712.00 price objective on Intuitive Surgical and gave the company an “overweight” rating in a research note on Monday, January 26th. Zacks Research downgraded Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, UBS Group reduced their price objective on Intuitive Surgical from $570.00 to $550.00 and set a “neutral” rating for the company in a research note on Tuesday, March 17th. Eighteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $586.70.

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Intuitive Surgical Stock Up 7.2%

ISRG opened at $483.62 on Wednesday. The business has a 50 day moving average price of $477.54 and a two-hundred day moving average price of $515.41. The company has a market cap of $171.75 billion, a PE ratio of 58.62, a P/E/G ratio of 3.52 and a beta of 1.68. Intuitive Surgical has a 52 week low of $427.84 and a 52 week high of $603.88.

Intuitive Surgical (NASDAQ:ISRGGet Free Report) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $2.62 billion. Intuitive Surgical had a return on equity of 15.96% and a net margin of 28.15%.The firm’s revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.81 EPS. As a group, sell-side analysts expect that Intuitive Surgical will post 8.16 EPS for the current fiscal year.

Insider Activity

In related news, VP Fredrik Widman sold 133 shares of the company’s 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 transaction, the vice president owned 660 shares of the company’s stock, valued at $326,673.60. This represents a 16.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Myriam Curet sold 421 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total value of $208,378.16. Following the transaction, the executive vice president directly owned 409 shares in the company, valued at $202,438.64. This represents a 50.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 32,943 shares of company stock valued at $17,279,568 over the last three months. 0.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ISRG. Holos Integrated Wealth LLC acquired a new position in Intuitive Surgical during the fourth quarter worth $25,000. Newbridge Financial Services Group Inc. grew its holdings in Intuitive Surgical by 300.0% during the fourth 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 period. Greykasell Wealth Strategies Inc. purchased a new position in Intuitive Surgical in the 3rd quarter valued at approximately $27,000. Olistico Wealth LLC purchased a new position in Intuitive Surgical in the 4th quarter valued at approximately $28,000. Finally, Caitlin John LLC purchased a new position in Intuitive Surgical in the 3rd quarter valued at approximately $30,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

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About Intuitive Surgical

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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.

Further Reading

Analyst Recommendations for Intuitive Surgical (NASDAQ:ISRG)

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