TD Cowen Issues Pessimistic Forecast for Intuitive Surgical (NASDAQ:ISRG) Stock Price

Intuitive Surgical (NASDAQ:ISRG) had its price objective cut by TD Cowen from $585.00 to $520.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. TD Cowen’s price objective would suggest a potential upside of 26.88% from the stock’s previous close.

Several other equities analysts have also recently commented on the company. Evercore set a $430.00 target price on Intuitive Surgical in a research report on Monday, July 6th. Citigroup reaffirmed a “buy” rating on shares of Intuitive Surgical in a report on Wednesday, July 8th. Mizuho set a $525.00 price target on Intuitive Surgical and gave the company a “neutral” rating in a research report on Monday, April 13th. Raymond James Financial cut their price objective on Intuitive Surgical from $615.00 to $577.00 and set an “outperform” rating for the company in a report on Wednesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating on the stock in a research report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Intuitive Surgical currently has an average rating of “Moderate Buy” and an average target price of $562.12.

Intuitive Surgical Price Performance

NASDAQ:ISRG traded up $3.07 during trading hours on Monday, hitting $409.85. The stock had a trading volume of 892,482 shares, compared to its average volume of 2,162,361. The company has a 50 day simple moving average of $422.09 and a two-hundred day simple moving average of $473.91. Intuitive Surgical has a one year low of $396.68 and a one year high of $603.88. The firm has a market capitalization of $145.15 billion, a price-to-earnings ratio of 49.68, a P/E/G ratio of 3.31 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results 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. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The business’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.81 earnings per share. Equities research analysts anticipate that Intuitive Surgical will post 8.57 earnings per share for the current year.

Insider Activity at Intuitive Surgical

In other news, SVP Iman Jeddi sold 5,625 shares of the company’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 directly owned 6,463 shares in the company, valued at approximately $2,718,014.65. This represents a 46.53% decrease in their position. The transaction was disclosed in a document filed 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 500 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $473.46, for a total value of $236,730.00. Following the transaction, the director owned 239 shares in the company, valued at $113,156.94. This trade represents a 67.66% 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. Insiders have sold a total of 7,169 shares of company stock valued at $3,059,135 over the last 90 days. 0.60% of the stock is owned by insiders.

Institutional Trading of Intuitive Surgical

A number of hedge funds have recently bought and sold shares of the company. Draper Asset Management LLC raised its position in shares of Intuitive Surgical by 41.9% during the 4th quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider’s stock valued at $2,848,000 after buying an additional 1,485 shares in the last quarter. Deutsche Bank AG grew its position in Intuitive Surgical by 9.6% in the fourth quarter. Deutsche Bank AG now owns 1,522,191 shares of the medical equipment provider’s stock worth $862,108,000 after acquiring an additional 132,966 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in Intuitive Surgical by 29.3% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider’s stock worth $40,255,000 after acquiring an additional 16,119 shares in the last quarter. Procyon Advisors LLC increased 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 acquiring an additional 4,254 shares during the last quarter. Finally, Robinhood Asset Management LLC bought a new stake in Intuitive Surgical during the fourth quarter worth approximately $6,478,000. Institutional investors own 83.64% of the company’s stock.

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.