Intuitive Surgical (NASDAQ:ISRG) Price Target Lowered to $609.00 at The Goldman Sachs Group

Intuitive Surgical (NASDAQ:ISRG) had its target price cut by research analysts at The Goldman Sachs Group from $714.00 to $609.00 in a report released on Wednesday,MarketScreener reports. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 30.23% from the stock’s current price.

ISRG has been the topic of a number of other reports. Argus dropped their price target on shares of Intuitive Surgical from $630.00 to $560.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. Zacks Research downgraded shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Evercore dropped their price target on shares of Intuitive Surgical from $550.00 to $480.00 and set a “neutral” rating on the stock in a research note on Monday. Piper Sandler reaffirmed an “overweight” rating and issued a $620.00 price target (up from $610.00) on shares of Intuitive Surgical in a research note on Friday, January 23rd. Finally, BTIG Research reaffirmed a “buy” rating and issued a $616.00 price target on shares of Intuitive Surgical in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Intuitive Surgical has a consensus rating of “Moderate Buy” and a consensus price target of $607.00.

Intuitive Surgical Trading Up 3.2%

NASDAQ ISRG opened at $467.65 on Wednesday. Intuitive Surgical has a 1-year low of $427.84 and a 1-year high of $603.88. The company has a market capitalization of $166.08 billion, a PE ratio of 59.14, a price-to-earnings-growth ratio of 3.49 and a beta of 1.68. The firm’s fifty day simple moving average is $484.46 and its 200-day simple moving average is $514.43.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.26. Intuitive Surgical had a net margin of 28.38% and a return on equity of 15.06%. The business had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same period in the prior year, the business posted $2.21 earnings per share. Intuitive Surgical’s revenue for the quarter was up 18.8% compared to the same quarter last year. As a group, analysts predict that Intuitive Surgical will post 6.43 EPS for the current year.

Insider Activity

In other Intuitive Surgical news, VP Fredrik Widman sold 133 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total transaction of $65,829.68. Following the transaction, the vice president directly owned 660 shares of the company’s stock, valued at $326,673.60. This represents a 16.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Patricia L. Wadors sold 220 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $499.71, for a total transaction of $109,936.20. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 32,943 shares of company stock valued at $17,279,568. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Intuitive Surgical

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position 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 valued at $15,026,776,000 after purchasing an additional 263,828 shares during the last quarter. State Street Corp grew its position 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 valued at $8,892,753,000 after purchasing an additional 162,264 shares during the last quarter. Capital World Investors grew its position in shares of Intuitive Surgical by 1.7% in the fourth quarter. Capital World Investors now owns 7,856,018 shares of the medical equipment provider’s stock valued at $4,449,491,000 after purchasing an additional 127,526 shares during the last quarter. Norges Bank acquired a new stake in shares of Intuitive Surgical in the fourth quarter valued at about $2,856,987,000. Finally, Invesco Ltd. grew its position in shares of Intuitive Surgical by 17.4% in the fourth quarter. Invesco Ltd. now owns 4,128,735 shares of the medical equipment provider’s stock valued at $2,338,350,000 after purchasing an additional 611,268 shares during the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

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.