Leerink Partners Cuts Intuitive Surgical (NASDAQ:ISRG) Price Target to $454.00

Intuitive Surgical (NASDAQ:ISRG) had its price objective trimmed by Leerink Partners from $573.00 to $454.00 in a report issued on Friday, MarketBeat reports. The firm currently has an outperform rating on the medical equipment provider’s stock.

Several other analysts have also recently commented on ISRG. The Goldman Sachs Group set a $558.00 target price on Intuitive Surgical in a research report on Wednesday, May 27th. JPMorgan Chase & Co. dropped their price target on Intuitive Surgical from $625.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 22nd. Bank of America reduced their price objective on Intuitive Surgical from $520.00 to $515.00 in a research note on Friday, June 12th. Wall Street Zen raised Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Finally, Jefferies Financial Group decreased their price objective on Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating for the company in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Intuitive Surgical currently has an average rating of “Moderate Buy” and a consensus price target of $523.46.

Intuitive Surgical Stock Performance

Intuitive Surgical stock opened at $345.42 on Friday. The company has a 50 day moving average price of $415.28 and a 200 day moving average price of $467.12. Intuitive Surgical has a 52 week low of $344.55 and a 52 week high of $603.88. The firm has a market capitalization of $122.33 billion, a price-to-earnings ratio of 39.57, a P/E/G ratio of 2.80 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.45% and a return on equity of 17.09%. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the previous year, the company posted $1.81 EPS. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. Equities analysts forecast that Intuitive Surgical will post 8.62 earnings per share for the current fiscal year.

Insider Transactions at Intuitive Surgical

In other news, EVP Gary Loeb sold 400 shares of Intuitive Surgical 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 directly owned 5,720 shares in the company, valued at $2,426,080.80. The trade was a 6.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total value of $55,156.50. Following the completion of the sale, the director directly owned 120 shares of the company’s stock, valued at approximately $55,620. The trade was a 49.79% 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 in the last three months. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of Intuitive Surgical

A number of institutional investors have recently added to or reduced their stakes in the business. Draper Asset Management LLC boosted its holdings in shares of Intuitive Surgical by 41.9% in the 4th 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 in the last quarter. Deutsche Bank AG increased its holdings in Intuitive Surgical by 9.6% during the 4th quarter. Deutsche Bank AG now owns 1,522,191 shares of the medical equipment provider’s stock valued at $862,108,000 after purchasing an additional 132,966 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Intuitive Surgical by 29.3% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider’s stock valued at $40,255,000 after purchasing an additional 16,119 shares in the last quarter. Procyon Advisors LLC raised its position in Intuitive Surgical by 787.8% in the 4th quarter. Procyon Advisors LLC now owns 4,794 shares of the medical equipment provider’s stock valued at $2,715,000 after purchasing an additional 4,254 shares during the last quarter. Finally, Robinhood Asset Management LLC bought a new position in Intuitive Surgical in the 4th quarter valued at $6,478,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Key Intuitive Surgical News

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.