Intuitive Surgical (NASDAQ:ISRG) Sets New 52-Week Low – Here’s What Happened

Intuitive Surgical, Inc. (NASDAQ:ISRG) reached a new 52-week low during trading on Wednesday . The company traded as low as $415.03 and last traded at $417.4980, with a volume of 1138577 shares trading hands. The stock had previously closed at $436.64.

Wall Street Analyst Weigh In

ISRG has been the subject of a number of research analyst reports. Raymond James Financial dropped their price objective on shares of Intuitive Surgical from $615.00 to $577.00 and set an “outperform” rating for the company in a research note on Wednesday, April 22nd. Jefferies Financial Group dropped their price objective on shares of Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating for the company in a research note on Wednesday, April 22nd. Robert W. Baird increased their target price on shares of Intuitive Surgical from $575.00 to $610.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Barclays set a $651.00 target price on shares of Intuitive Surgical and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Finally, Truist Financial dropped their target price on shares of Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Nineteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $576.71.

Intuitive Surgical Trading Down 0.5%

The stock’s 50-day moving average is $454.60 and its 200-day moving average is $507.01. The stock has a market cap of $149.26 billion, a price-to-earnings ratio of 51.18, a P/E/G ratio of 3.34 and a beta of 1.51.

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, topping analysts’ consensus estimates of $2.08 by $0.42. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The company’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 predict that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Intuitive Surgical news, EVP Myriam Curet sold 105 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $493.95, for a total value of $51,864.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mark Brosius sold 2,362 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $498.68, for a total value of $1,177,882.16. Following the completion of the transaction, the senior vice president owned 3,554 shares of the company’s stock, valued at approximately $1,772,308.72. This represents a 39.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 5,481 shares of company stock worth $2,673,871 in the last 90 days. 0.60% of the stock is owned by insiders.

Institutional Trading of Intuitive Surgical

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Intuitive Surgical by 0.8% in the third quarter. Vanguard Group Inc. now owns 33,599,661 shares of the medical equipment provider’s stock worth $15,026,776,000 after buying an additional 263,828 shares during the last quarter. State Street Corp increased its stake in shares of Intuitive Surgical by 1.0% in the fourth quarter. State Street Corp now owns 15,701,591 shares of the medical equipment provider’s stock worth $8,892,753,000 after buying an additional 162,264 shares during the last quarter. Capital World Investors lifted its stake in Intuitive Surgical by 1.7% during the fourth quarter. Capital World Investors now owns 7,856,018 shares of the medical equipment provider’s stock worth $4,449,491,000 after purchasing an additional 127,526 shares during the last quarter. Norges Bank bought a new position in Intuitive Surgical during the fourth quarter worth $2,856,987,000. Finally, Invesco Ltd. lifted its stake in Intuitive Surgical by 17.4% during the fourth quarter. Invesco Ltd. now owns 4,128,735 shares of the medical equipment provider’s stock worth $2,338,350,000 after purchasing an additional 611,268 shares during the last quarter. Institutional investors own 83.64% of the company’s stock.

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.