Intuitive Surgical (NASDAQ:ISRG) Shares Gap Down – What’s Next?

Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) gapped down prior to trading on Wednesday . The stock had previously closed at $561.82, but opened at $533.96. Intuitive Surgical shares last traded at $539.8390, with a volume of 477,785 shares changing hands.

Analyst Ratings Changes

ISRG has been the subject of several research reports. UBS Group set a $600.00 price objective on shares of Intuitive Surgical and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Truist Financial increased their price target on shares of Intuitive Surgical from $620.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $740.00 price target (up previously from $700.00) on shares of Intuitive Surgical in a research report on Friday. Piper Sandler upped their price objective on Intuitive Surgical from $595.00 to $610.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Jefferies Financial Group raised their price objective on Intuitive Surgical from $550.00 to $560.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $622.17.

Intuitive Surgical Price Performance

The firm has a market cap of $193.91 billion, a PE ratio of 71.38, a price-to-earnings-growth ratio of 4.66 and a beta of 1.67. The company has a 50-day simple moving average of $566.99 and a 200-day simple moving average of $511.85.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.41. The firm had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.41 billion. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. The business’s revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.84 earnings per share. As a group, equities research analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insider Activity

In related news, CEO David J. Rosa sold 24,500 shares of Intuitive Surgical stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $547.55, for a total transaction of $13,414,975.00. Following the transaction, the chief executive officer directly owned 234,256 shares of the company’s stock, valued at $128,266,872.80. This trade represents a 9.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Mark Brosius sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $547.36, for a total transaction of $2,463,120.00. Following the completion of the transaction, the senior vice president directly owned 907 shares of the company’s stock, valued at $496,455.52. This trade represents a 83.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 114,007 shares of company stock valued at $63,533,844. 0.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Intuitive Surgical

A number of institutional investors have recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in Intuitive Surgical by 24.9% in the fourth quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider’s stock worth $1,916,000 after acquiring an additional 731 shares in the last quarter. Goldstone Financial Group LLC raised its position in shares of Intuitive Surgical by 40.6% in the 2nd quarter. Goldstone Financial Group LLC now owns 1,177 shares of the medical equipment provider’s stock valued at $641,000 after purchasing an additional 340 shares during the last quarter. Webster Bank N. A. raised its position in shares of Intuitive Surgical by 68.7% in the 2nd quarter. Webster Bank N. A. now owns 663 shares of the medical equipment provider’s stock valued at $360,000 after purchasing an additional 270 shares during the last quarter. Everpar Advisors LLC boosted its stake in Intuitive Surgical by 2.0% in the 2nd quarter. Everpar Advisors LLC now owns 1,267 shares of the medical equipment provider’s stock worth $688,000 after purchasing an additional 25 shares in the last quarter. Finally, Strategic Advocates LLC grew its position in Intuitive Surgical by 2.6% during the 2nd quarter. Strategic Advocates LLC now owns 7,070 shares of the medical equipment provider’s stock worth $3,842,000 after purchasing an additional 182 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors.

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.