Intuitive Surgical (NASDAQ:ISRG) Share Price Breaks Below 200-Day Moving Average – Here’s What Happened

Intuitive Surgical, Inc. (NASDAQ:ISRG)’s share price crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $434.05 and traded as low as $431.19. Intuitive Surgical shares last traded at $432.01, with a volume of 3,480,760 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ISRG shares. Evercore set a $430.00 price objective on Intuitive Surgical in a research note on Monday, July 6th. BTIG Research reissued a “buy” rating and set a $454.00 target price on shares of Intuitive Surgical in a research note on Wednesday, October 21st. Citigroup lowered their target price on Intuitive Surgical from $590.00 to $500.00 and set a “buy” rating for the company in a research note on Friday, July 17th. HSBC cut shares of Intuitive Surgical from a “buy” rating to a “hold” rating and set a $391.00 target price for the company. in a report on Thursday, July 30th. Finally, Robert W. Baird raised their price target on shares of Intuitive Surgical from $513.00 to $550.00 and gave the company an “outperform” rating in a research note on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Intuitive Surgical presently has an average rating of “Moderate Buy” and a consensus target price of $493.54.

Intuitive Surgical Stock Performance

The company has a market cap of $149.75 billion, a price-to-earnings ratio of 52.24, a P/E/G ratio of 3.09 and a beta of 1.46. The company has a fifty day moving average of $401.54 and a two-hundred day moving average of $434.05.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Tuesday, October 20th. The medical equipment provider reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.35. The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.91 billion. Intuitive Surgical had a return on equity of 18.17% and a net margin of 25.54%. The business’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.40 EPS. Equities analysts expect that Intuitive Surgical, Inc. will post 9.37 EPS for the current fiscal year.

Insider Activity at Intuitive Surgical

In other news, SVP Patricia Wadors sold 1,078 shares of the company’s stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $443.80, for a total value of $478,416.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gary Guthart sold 20,095 shares of the company’s stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $451.61, for a total value of $9,075,102.95. Following the completion of the transaction, the director directly owned 1,204,530 shares of the company’s stock, valued at $543,977,793.30. This represents a 1.64% 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. In the last 90 days, insiders sold 38,778 shares of company stock valued at $16,814,967. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Intuitive Surgical

Several large investors have recently modified their holdings of the business. Bank of America Corp DE lifted its stake in shares of Intuitive Surgical by 3.3% in the first quarter. Bank of America Corp DE now owns 3,616,973 shares of the medical equipment provider’s stock valued at $1,667,388,000 after buying an additional 116,292 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Intuitive Surgical during the second quarter valued at about $1,335,753,000. Amundi increased its position in shares of Intuitive Surgical by 8.6% during the first quarter. Amundi now owns 2,428,356 shares of the medical equipment provider’s stock worth $1,119,448,000 after acquiring an additional 193,096 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Intuitive Surgical by 95.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider’s stock worth $970,635,000 after acquiring an additional 1,027,475 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Intuitive Surgical by 10.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,893,485 shares of the medical equipment provider’s stock worth $769,948,000 after acquiring an additional 184,044 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.

About Intuitive Surgical

Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company’s primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.

The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.