UBS Group Cuts Intuitive Surgical (NASDAQ:ISRG) Price Target to $550.00

Intuitive Surgical (NASDAQ:ISRGFree Report) had its target price cut by UBS Group from $570.00 to $550.00 in a research report released on Tuesday,Benzinga reports. They currently have a neutral rating on the medical equipment provider’s stock.

A number of other brokerages have also issued reports on ISRG. Weiss Ratings reissued a “hold (c+)” rating on shares of Intuitive Surgical in a research report on Monday, December 29th. Truist Financial raised their price target on Intuitive Surgical from $620.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Raymond James Financial boosted their price objective on Intuitive Surgical from $603.00 to $615.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Barclays set a $712.00 target price on Intuitive Surgical and gave the stock an “overweight” rating in a research note on Monday, January 26th. Finally, Zacks Research upgraded Intuitive Surgical from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and a consensus price target of $614.95.

View Our Latest Analysis on Intuitive Surgical

Intuitive Surgical Price Performance

NASDAQ ISRG opened at $479.93 on Tuesday. The stock has a market capitalization of $170.44 billion, a P/E ratio of 60.83, a PEG ratio of 3.68 and a beta of 1.66. The firm’s 50-day moving average is $505.00 and its two-hundred day moving average is $512.62. Intuitive Surgical has a 12 month low of $425.00 and a 12 month high of $603.88.

Intuitive Surgical (NASDAQ:ISRGGet Free Report) last released 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. 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 previous year, the firm earned $2.21 EPS. The business’s revenue was up 18.8% on a year-over-year basis. As a group, analysts anticipate that Intuitive Surgical will post 6.43 EPS for the current year.

Insider Buying and Selling

In related news, SVP Patricia L. Wadors sold 220 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $499.71, for a total transaction of $109,936.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mark Brosius sold 645 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $485.01, for a total transaction of $312,831.45. Following the completion of the sale, the senior vice president directly owned 1,613 shares in the company, valued at approximately $782,321.13. This trade represents a 28.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 32,943 shares of company stock worth $17,279,568 over the last 90 days. 0.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intuitive Surgical

Large investors have recently modified their holdings of the company. SteelPeak Wealth LLC increased its stake in Intuitive Surgical by 28.7% in the third quarter. SteelPeak Wealth LLC now owns 41,993 shares of the medical equipment provider’s stock valued at $18,781,000 after purchasing an additional 9,364 shares during the last quarter. Atlantic Union Bankshares Corp boosted its stake in Intuitive Surgical by 19.3% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 22,759 shares of the medical equipment provider’s stock worth $10,179,000 after buying an additional 3,676 shares during the last quarter. World Investment Advisors grew its holdings in Intuitive Surgical by 238.3% in the 3rd quarter. World Investment Advisors now owns 5,399 shares of the medical equipment provider’s stock valued at $2,415,000 after buying an additional 3,803 shares during the period. E. Ohman J or Asset Management AB grew its holdings in Intuitive Surgical by 4.1% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 28,306 shares of the medical equipment provider’s stock valued at $12,659,000 after buying an additional 1,123 shares during the period. Finally, Valley Wealth Managers Inc. increased its stake in shares of Intuitive Surgical by 52.7% during the 3rd quarter. Valley Wealth Managers Inc. now owns 4,084 shares of the medical equipment provider’s stock valued at $1,826,000 after acquiring an additional 1,409 shares during the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Key Intuitive Surgical News

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About Intuitive Surgical

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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.

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