Robert W. Baird Cuts Intuitive Surgical (NASDAQ:ISRG) Price Target to $500.00

Intuitive Surgical (NASDAQ:ISRG) had its price target cut by Robert W. Baird from $525.00 to $500.00 in a report released on Friday, Marketbeat.com reports. They currently have an outperform rating on the medical equipment provider’s stock.

ISRG has been the topic of several other research reports. Truist Financial decreased their price target on Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating on the stock in a report on Thursday. Zacks Research lowered shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. The Goldman Sachs Group set a $558.00 price objective on shares of Intuitive Surgical in a research report on Wednesday, May 27th. Stifel Nicolaus set a $670.00 target price on shares of Intuitive Surgical in a research note on Tuesday, July 14th. Finally, TD Cowen reduced their target price on shares of Intuitive Surgical from $585.00 to $520.00 and set a “buy” rating on the stock in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $523.46.

Intuitive Surgical Price Performance

Shares of ISRG stock opened at $345.42 on Friday. Intuitive Surgical has a 1 year low of $344.55 and a 1 year high of $603.88. The stock’s 50 day simple moving average is $415.28 and its two-hundred day simple moving average is $467.12. The company has a market cap of $122.33 billion, a PE ratio of 39.57, a price-to-earnings-growth ratio of 2.80 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.42. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. Intuitive Surgical had a return on equity of 17.09% and a net margin of 28.45%.The company’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period last year, the company earned $1.81 EPS. Equities research analysts expect that Intuitive Surgical will post 8.62 EPS for the current year.

Insider Transactions at Intuitive Surgical

In other news, SVP Iman Jeddi sold 5,625 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $420.55, for a total value of $2,365,593.75. Following the sale, the senior vice president directly owned 6,463 shares in the company, valued at approximately $2,718,014.65. This represents a 46.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of the firm’s stock in a transaction that occurred 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 sale, the director directly owned 120 shares of the company’s stock, valued at $55,620. This represents a 49.79% 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. Over the last three months, insiders have sold 7,169 shares of company stock worth $3,059,135. 0.60% of the stock is currently owned by company insiders.

Institutional Trading of Intuitive Surgical

A number of hedge funds and other institutional investors have recently bought and sold shares of ISRG. Holos Integrated Wealth LLC purchased a new stake in shares of Intuitive Surgical during the fourth quarter valued at $25,000. Newbridge Financial Services Group Inc. grew its holdings in shares of Intuitive Surgical by 300.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 33 shares during the last quarter. Olistico Wealth LLC bought a new position in shares of Intuitive Surgical in the fourth quarter worth about $28,000. Main Street Group LTD purchased a new position in Intuitive Surgical in the 1st quarter worth about $30,000. Finally, Laurel Wealth Advisors LLC purchased a new position in Intuitive Surgical in the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Key Intuitive Surgical News

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

• Positive Sentiment: Intuitive Surgical reported stronger-than-expected Q2 revenue and earnings, helped by solid demand for its da Vinci robotic surgery systems and continued adoption of its products. Reuters article
• Positive Sentiment: The company still reported healthy procedure growth overall, with worldwide procedures rising and placements of robotic systems remaining strong, which supports the long-term investment case. Yahoo Finance article
• Neutral Sentiment: Several analysts lowered price targets after the report, but most kept bullish ratings such as overweight, buy, or outperform, suggesting Wall Street still sees meaningful upside despite the near-term pullback. Benzinga article
• Negative Sentiment: Management did not raise its forecast for procedure growth, and investors reacted badly to slower U.S. procedure growth and a cautious full-year outlook. Benzinga article
• Negative Sentiment: Reuters also noted concerns that changes to some insurance plans could reduce demand, adding to worries about slower U.S. growth and a softer near-term procedure trajectory. Reuters article

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.