Intuitive Surgical (NASDAQ:ISRG) Downgraded by HSBC to Hold

Intuitive Surgical (NASDAQ:ISRG) was downgraded by equities researchers at HSBC from a “buy” rating to a “hold” rating in a research report issued on Thursday, MarketBeat.com reports. They presently have a $391.00 target price on the medical equipment provider’s stock. HSBC’s price objective would indicate a potential upside of 10.73% from the stock’s current price.

Several other research firms have also recently weighed in on ISRG. Piper Sandler set a $357.44 price target on shares of Intuitive Surgical in a report on Monday. Truist Financial lowered their price objective on shares of Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating on the stock in a research report on Thursday, July 16th. Sanford C. Bernstein reduced their target price on Intuitive Surgical from $750.00 to $685.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating on the stock in a report on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. cut their price target on shares of Intuitive Surgical from $550.00 to $450.00 and set an “overweight” rating for the company in a research report on Friday, July 17th. Twenty research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $509.02.

Intuitive Surgical Price Performance

Shares of ISRG opened at $353.10 on Thursday. The firm has a market cap of $124.74 billion, a PE ratio of 40.45, a PEG ratio of 2.62 and a beta of 1.46. Intuitive Surgical has a 1 year low of $328.57 and a 1 year high of $603.88. The stock’s fifty day moving average price is $401.70 and its two-hundred day moving average price is $454.32.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.32. Intuitive Surgical had a return on equity of 16.91% and a net margin of 28.45%.The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same quarter last year, the firm posted $1.81 EPS. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. Sell-side analysts anticipate that Intuitive Surgical will post 8.87 earnings per share for the current fiscal year.

Insider Activity at Intuitive Surgical

In other news, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total value of $169,656.00. Following the sale, the executive vice president directly owned 5,720 shares in the company, valued at approximately $2,426,080.80. This trade represents a 6.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $420.55, for a total value of $2,365,593.75. Following the transaction, the senior vice president directly owned 6,463 shares in the company, valued at $2,718,014.65. This trade represents a 46.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 6,606 shares of company stock valued at $2,786,967. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Intuitive Surgical

Several institutional investors and hedge funds have recently modified their holdings of the stock. Regent Peak Wealth Advisors LLC boosted its position in Intuitive Surgical by 7.2% during the 2nd quarter. Regent Peak Wealth Advisors LLC now owns 800 shares of the medical equipment provider’s stock valued at $318,000 after acquiring an additional 54 shares in the last quarter. Hyperion Asset Management Ltd lifted its stake in shares of Intuitive Surgical by 49.8% in the 2nd quarter. Hyperion Asset Management Ltd now owns 419,329 shares of the medical equipment provider’s stock valued at $166,759,000 after purchasing an additional 139,422 shares during the period. Northside Capital Management LLC bought a new stake in shares of Intuitive Surgical during the second quarter valued at approximately $669,000. Annex Advisory Services LLC grew its stake in Intuitive Surgical by 37.4% in the second quarter. Annex Advisory Services LLC now owns 90,943 shares of the medical equipment provider’s stock worth $36,166,000 after purchasing an additional 24,750 shares during the period. Finally, Tema ETFs LLC raised its holdings in Intuitive Surgical by 28.8% in the second quarter. Tema ETFs LLC now owns 9,704 shares of the medical equipment provider’s stock worth $3,859,000 after purchasing an additional 2,170 shares in the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

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.