Intuitive Surgical (NASDAQ:ISRG) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Intuitive Surgical (NASDAQ:ISRG) from a buy rating to a hold rating in a research note published on Saturday morning.

Several other analysts have also weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Intuitive Surgical from $599.00 to $600.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Truist Financial set a $620.00 price objective on Intuitive Surgical and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $685.00 price target on shares of Intuitive Surgical in a report on Tuesday, October 21st. Piper Sandler raised their price objective on shares of Intuitive Surgical from $595.00 to $610.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Evercore ISI boosted their target price on shares of Intuitive Surgical from $450.00 to $540.00 in a research note on Wednesday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Intuitive Surgical has a consensus rating of “Moderate Buy” and a consensus target price of $608.92.

Intuitive Surgical Stock Up 2.2%

ISRG traded up $12.22 during midday trading on Friday, reaching $560.00. 2,709,882 shares of the company’s stock were exchanged, compared to its average volume of 2,124,514. The business has a 50-day simple moving average of $471.89 and a two-hundred day simple moving average of $501.02. The firm has a market capitalization of $200.75 billion, a price-to-earnings ratio of 74.07, a price-to-earnings-growth ratio of 4.94 and a beta of 1.62. Intuitive Surgical has a one year low of $425.00 and a one year high of $616.00.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 EPS for the quarter, topping the consensus estimate of $1.99 by $0.41. Intuitive Surgical had a return on equity of 15.08% and a net margin of 28.58%.The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter last year, the company earned $1.84 EPS. Intuitive Surgical’s revenue was up 22.9% on a year-over-year basis. As a group, research analysts anticipate that Intuitive Surgical will post 6.43 EPS for the current fiscal year.

Insider Activity at Intuitive Surgical

In other news, insider Gary S. Guthart sold 2,800 shares of the stock in a transaction on Friday, October 24th. The stock was sold at an average price of $546.27, for a total value of $1,529,556.00. Following the transaction, the insider owned 17,120 shares of the company’s stock, valued at $9,352,142.40. This represents a 14.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David J. Rosa sold 24,500 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $547.55, for a total value of $13,414,975.00. Following the completion of the transaction, the chief executive officer owned 234,256 shares in the company, valued at $128,266,872.80. This represents a 9.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 98,078 shares of company stock worth $51,445,892. 0.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intuitive Surgical

Institutional investors have recently modified their holdings of the stock. Norway Savings Bank boosted its stake in Intuitive Surgical by 53.4% in the 2nd quarter. Norway Savings Bank now owns 2,613 shares of the medical equipment provider’s stock worth $1,420,000 after purchasing an additional 910 shares during the period. IronOak Wealth LLC. bought a new stake in shares of Intuitive Surgical during the second quarter valued at about $1,099,000. Trust Co. of Oklahoma purchased a new stake in shares of Intuitive Surgical in the second quarter worth about $363,000. Amalgamated Bank grew its stake in Intuitive Surgical by 2.2% during the second quarter. Amalgamated Bank now owns 81,542 shares of the medical equipment provider’s stock valued at $44,311,000 after acquiring an additional 1,772 shares in the last quarter. Finally, Neville Rodie & Shaw Inc. grew its stake in Intuitive Surgical by 11.9% during the second quarter. Neville Rodie & Shaw Inc. now owns 10,427 shares of the medical equipment provider’s stock valued at $5,666,000 after acquiring an additional 1,110 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

About Intuitive Surgical

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.