JPMorgan Chase & Co. Issues Pessimistic Forecast for Intuitive Surgical (NASDAQ:ISRG) Stock Price

Intuitive Surgical (NASDAQ:ISRG) had its price target dropped by equities researchers at JPMorgan Chase & Co. from $550.00 to $450.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical equipment provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 27.82% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. BMO Capital Markets began 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. Wells Fargo & Company reiterated an “overweight” rating and set a $487.00 price objective (down from $654.00) on shares of Intuitive Surgical in a research report on Friday. Piper Sandler reissued an “overweight” rating and issued a $470.00 target price on shares of Intuitive Surgical in a research note on Friday. Robert W. Baird reduced their target price on shares of Intuitive Surgical from $525.00 to $500.00 and set an “outperform” rating on the stock in a report on Friday. Finally, HSBC decreased their price target on shares of Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Intuitive Surgical has an average rating of “Moderate Buy” and a consensus price target of $523.46.

Intuitive Surgical Trading Down 12.5%

Shares of ISRG stock traded down $50.26 during trading hours on Friday, hitting $352.07. The company’s stock had a trading volume of 4,823,535 shares, compared to its average volume of 2,251,363. The business has a fifty day moving average of $417.37 and a 200-day moving average of $468.74. Intuitive Surgical has a twelve month low of $349.90 and a twelve month high of $603.88. The stock has a market cap of $124.69 billion, a price-to-earnings ratio of 42.84, a P/E/G ratio of 3.16 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.42. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.62 billion. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.Intuitive Surgical’s revenue was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.81 EPS. On average, equities analysts expect that Intuitive Surgical will post 8.57 EPS for the current fiscal year.

Insider Activity

In other news, EVP Gary Loeb sold 400 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following the completion of the sale, the executive vice president directly owned 5,720 shares in the company, valued at $2,426,080.80. This represents a 6.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of the stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $463.50, for a total value of $55,156.50. Following the completion of the transaction, the director directly owned 120 shares in the company, valued at $55,620. This trade represents a 49.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 7,169 shares of company stock valued at $3,059,135 in the last ninety days. 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 added to or reduced their stakes in ISRG. Brighton Jones LLC lifted its stake in shares of Intuitive Surgical by 24.9% in the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider’s stock valued at $1,916,000 after purchasing an additional 731 shares in the last quarter. Sivia Capital Partners LLC increased its position in Intuitive Surgical by 3.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider’s stock worth $504,000 after purchasing an additional 34 shares in the last quarter. Schnieders Capital Management LLC. raised its holdings in Intuitive Surgical by 38.0% in the second quarter. Schnieders Capital Management LLC. now owns 973 shares of the medical equipment provider’s stock valued at $529,000 after buying an additional 268 shares during the period. Osterweis Capital Management Inc. purchased a new position in Intuitive Surgical in the second quarter valued at approximately $200,000. Finally, Main Street Financial Solutions LLC lifted its position in Intuitive Surgical by 92.4% during the second quarter. Main Street Financial Solutions LLC now owns 2,929 shares of the medical equipment provider’s stock valued at $1,592,000 after buying an additional 1,407 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Intuitive Surgical

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: Intuitive Surgical beat second-quarter expectations, with revenue of $2.89 billion and adjusted EPS of $2.80 topping estimates, supported by strong demand for da Vinci robotic surgery systems. Article Title
• Positive Sentiment: The company reported continued global procedure growth, including approximately 16% growth in worldwide procedures, showing that adoption of its robotic surgery platform remains healthy overall. Article Title
• Neutral Sentiment: Several Wall Street firms cut price targets after the report, but most kept bullish ratings, suggesting analysts still see upside while becoming more cautious on near-term growth. Article Title
• Negative Sentiment: Shares fell sharply because U.S. procedure growth slowed and management’s outlook disappointed investors, raising concerns that growth is normalizing faster than expected. Article Title
• Negative Sentiment: Management also warned that insurance-related changes could weigh on U.S. demand, while ongoing China weakness and a prior Class II recall add to investor worries about near-term execution. Article Title

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.