BTIG Research Cuts Intuitive Surgical (NASDAQ:ISRG) Price Target to $529.00

Intuitive Surgical (NASDAQ:ISRG) had its target price trimmed by BTIG Research from $571.00 to $529.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a buy rating on the medical equipment provider’s stock.

ISRG has been the subject of several other research reports. Zacks Research downgraded shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Intuitive Surgical in a report on Wednesday, October 8th. Piper Sandler reiterated an “overweight” rating and issued a $595.00 target price (up previously from $575.00) on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Wall Street Zen upgraded shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Finally, The Goldman Sachs Group lowered their target price on shares of Intuitive Surgical from $621.00 to $567.00 and set a “buy” rating for the company in a report on Wednesday, October 1st. Fourteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $582.14.

Intuitive Surgical Trading Down 0.2%

ISRG opened at $435.61 on Monday. The company’s fifty day moving average price is $456.15 and its two-hundred day moving average price is $496.60. Intuitive Surgical has a 1-year low of $425.00 and a 1-year high of $616.00. The company has a market cap of $156.16 billion, a price-to-earnings ratio of 60.75, a PEG ratio of 4.58 and a beta of 1.61.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.26. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the company posted $1.78 earnings per share. The business’s revenue was up 21.4% on a year-over-year basis. As a group, equities analysts forecast that Intuitive Surgical will post 6.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intuitive Surgical news, insider Gary S. Guthart sold 29,360 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the completion of the transaction, the insider owned 19,827 shares in the company, valued at $9,368,059.23. This trade represents a 59.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Myriam Curet sold 4,500 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the transaction, the executive vice president owned 353 shares of the company’s stock, valued at $173,845.44. This represents a 92.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,224 shares of company stock worth $21,716,492 over the last quarter. 0.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuitive Surgical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ISRG. Chilton Capital Management LLC lifted its holdings in shares of Intuitive Surgical by 614.3% in the first quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 43 shares in the last quarter. Tobam lifted its holdings in shares of Intuitive Surgical by 666.7% in the second quarter. Tobam now owns 46 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 40 shares in the last quarter. Elite Financial Inc. purchased a new stake in shares of Intuitive Surgical in the first quarter worth about $26,000. Kilter Group LLC purchased a new stake in shares of Intuitive Surgical in the second quarter worth about $27,000. Finally, LFA Lugano Financial Advisors SA purchased a new stake in shares of Intuitive Surgical in the first quarter worth about $30,000. Institutional investors own 83.64% of the company’s stock.

About Intuitive Surgical

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.