Intuitive Surgical (NASDAQ:ISRG) Price Target Lowered to $480.00 at Evercore

Intuitive Surgical (NASDAQ:ISRG) had its price target lowered by equities researchers at Evercore from $550.00 to $480.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The firm presently has a “neutral” rating on the medical equipment provider’s stock. Evercore’s price target would indicate a potential upside of 5.14% from the company’s current price.

Several other research analysts also recently weighed in on ISRG. Zacks Research downgraded shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. UBS Group decreased their price target on shares of Intuitive Surgical from $570.00 to $550.00 and set a “neutral” rating on the stock in a report on Tuesday, March 17th. BTIG Research reiterated a “buy” rating and issued a $616.00 target price on shares of Intuitive Surgical in a report on Friday, January 23rd. Argus reduced their target price on shares of Intuitive Surgical from $630.00 to $560.00 and set a “buy” rating on the stock in a report on Wednesday, February 4th. Finally, Barclays set a $712.00 target price on Intuitive Surgical and gave the stock an “overweight” rating in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $611.77.

Intuitive Surgical Price Performance

Shares of ISRG stock traded up $4.48 during trading hours on Monday, reaching $456.55. 60,588 shares of the company’s stock were exchanged, compared to its average volume of 1,909,207. The company’s 50 day moving average is $487.43 and its two-hundred day moving average is $514.21. Intuitive Surgical has a 1 year low of $425.00 and a 1 year high of $603.88. The company has a market cap of $162.13 billion, a P/E ratio of 58.02, a price-to-earnings-growth ratio of 3.49 and a beta of 1.68.

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

Insider Activity

In other Intuitive Surgical news, Director Gary S. Guthart sold 24,500 shares of the firm’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $530.10, for a total transaction of $12,987,450.00. Following the completion of the transaction, the director directly owned 3,694 shares of the company’s stock, valued at $1,958,189.40. This trade represents a 86.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Patricia L. Wadors sold 220 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $499.71, for a total value of $109,936.20. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 32,943 shares of company stock worth $17,279,568 over the last ninety days. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ISRG. Holos Integrated Wealth LLC bought a new stake in shares of Intuitive Surgical in the 4th quarter worth $25,000. Newbridge Financial Services Group Inc. lifted its stake in Intuitive Surgical by 300.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 33 shares in the last quarter. Greykasell Wealth Strategies Inc. acquired a new stake in Intuitive Surgical during the 3rd quarter valued at $27,000. Olistico Wealth LLC acquired a new stake in shares of Intuitive Surgical in the fourth quarter worth $28,000. Finally, Caitlin John LLC purchased a new stake in Intuitive Surgical in the 3rd quarter worth approximately $30,000. 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.