Intuitive Surgical (NASDAQ:ISRG) Price Target Lowered to $609.00 at The Goldman Sachs Group

Intuitive Surgical (NASDAQ:ISRG) had its target price reduced by The Goldman Sachs Group from $714.00 to $609.00 in a research report issued on Wednesday,MarketScreener reports. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 30.23% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Argus reduced their target price on shares of Intuitive Surgical from $630.00 to $560.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. BTIG Research reiterated a “buy” rating and issued a $616.00 target price on shares of Intuitive Surgical in a research note on Friday, January 23rd. Wells Fargo & Company increased their target price on shares of Intuitive Surgical from $600.00 to $654.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Raymond James Financial increased their target price on shares of Intuitive Surgical from $603.00 to $615.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Finally, Wall Street Zen cut shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Intuitive Surgical presently has an average rating of “Moderate Buy” and a consensus target price of $607.00.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG opened at $467.65 on Wednesday. The company has a market cap of $166.08 billion, a P/E ratio of 59.14, a P/E/G ratio of 3.49 and a beta of 1.68. The stock’s 50-day moving average is $484.46 and its 200-day moving average is $514.43. Intuitive Surgical has a 52-week low of $427.84 and a 52-week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.26. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.72 billion. Intuitive Surgical had a return on equity of 15.06% and a net margin of 28.38%.The firm’s revenue was up 18.8% compared to the same quarter last year. During the same period last year, the business posted $2.21 earnings per share. As a group, equities analysts predict that Intuitive Surgical will post 6.43 EPS for the current year.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, SVP Mark Brosius sold 645 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $485.01, for a total transaction of $312,831.45. Following the completion of the transaction, the senior vice president owned 1,613 shares in the company, valued at $782,321.13. This trade represents a 28.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Fredrik Widman sold 133 shares of the firm’s stock in a transaction dated 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 approximately $326,673.60. This represents a 16.77% 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 worth $17,279,568 in the last three months. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SteelPeak Wealth LLC increased its holdings in shares of Intuitive Surgical by 28.7% in the third quarter. SteelPeak Wealth LLC now owns 41,993 shares of the medical equipment provider’s stock valued at $18,781,000 after purchasing an additional 9,364 shares in the last quarter. Atlantic Union Bankshares Corp increased its holdings in shares of Intuitive Surgical by 19.3% in the third quarter. Atlantic Union Bankshares Corp now owns 22,759 shares of the medical equipment provider’s stock valued at $10,179,000 after purchasing an additional 3,676 shares in the last quarter. World Investment Advisors increased its holdings in shares of Intuitive Surgical by 238.3% in the third quarter. World Investment Advisors now owns 5,399 shares of the medical equipment provider’s stock valued at $2,415,000 after purchasing an additional 3,803 shares in the last quarter. Valley Wealth Managers Inc. increased its holdings in shares of Intuitive Surgical by 52.7% in the third quarter. Valley Wealth Managers Inc. now owns 4,084 shares of the medical equipment provider’s stock valued at $1,826,000 after purchasing an additional 1,409 shares in the last quarter. Finally, E. Ohman J or Asset Management AB increased its holdings in shares of Intuitive Surgical by 4.1% in the third quarter. E. Ohman J or Asset Management AB now owns 28,306 shares of the medical equipment provider’s stock valued at $12,659,000 after purchasing an additional 1,123 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.

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.