Citigroup Cuts Intuitive Surgical (NASDAQ:ISRG) Price Target to $500.00

Intuitive Surgical (NASDAQ:ISRG) had its price target cut by Citigroup from $590.00 to $500.00 in a research report report published on Friday,Benzinga reports. They currently have a buy rating on the medical equipment provider’s stock.

Several other analysts have also commented on the company. Bank of America dropped their target price on Intuitive Surgical from $520.00 to $515.00 in a report on Friday, June 12th. BMO Capital Markets initiated coverage on Intuitive Surgical in a report on Wednesday, July 8th. They issued an “outperform” rating and a $518.00 price target for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Intuitive Surgical in a report on Tuesday, May 19th. Barclays set a $651.00 price objective on Intuitive Surgical and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Finally, Jefferies Financial Group dropped their price objective on shares of Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating on the stock in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $523.46.

Intuitive Surgical Stock Performance

NASDAQ:ISRG opened at $345.42 on Friday. The firm’s fifty day moving average is $415.28 and its two-hundred day moving average is $467.12. The firm has a market cap of $122.33 billion, a price-to-earnings ratio of 39.57, a PEG ratio of 2.80 and a beta of 1.46. Intuitive Surgical has a one year low of $344.55 and a one year high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.42. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. Intuitive Surgical had a return on equity of 17.09% and a net margin of 28.45%.The company’s revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the business posted $1.81 EPS. As a group, equities research analysts predict that Intuitive Surgical will post 8.62 earnings per share for the current fiscal year.

Insider Activity

In related 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 value of $169,656.00. Following the completion of the transaction, the executive vice president 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 of the company’s stock, valued at $2,718,014.65. The trade was 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 have sold 7,169 shares of company stock worth $3,059,135 in the last ninety days. Company insiders own 0.60% of the company’s stock.

Institutional Trading of Intuitive Surgical

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Draper Asset Management LLC lifted its holdings in Intuitive Surgical by 41.9% during the fourth quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider’s stock valued at $2,848,000 after purchasing an additional 1,485 shares in the last quarter. Deutsche Bank AG grew its position in shares of 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 valued at $862,108,000 after purchasing an additional 132,966 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of Intuitive Surgical by 29.3% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider’s stock worth $40,255,000 after purchasing an additional 16,119 shares in the last quarter. Procyon Advisors LLC raised its position in shares of Intuitive Surgical by 787.8% during the 4th quarter. Procyon Advisors LLC now owns 4,794 shares of the medical equipment provider’s stock worth $2,715,000 after purchasing an additional 4,254 shares during the last quarter. Finally, Robinhood Asset Management LLC acquired a new position in shares of Intuitive Surgical during the 4th quarter worth about $6,478,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Intuitive Surgical

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.