Truist Financial Lowers Intuitive Surgical (NASDAQ:ISRG) Price Target to $510.00

Intuitive Surgical (NASDAQ:ISRG) had its price objective reduced by equities research analysts at Truist Financial from $580.00 to $510.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. Truist Financial’s target price would suggest a potential upside of 27.91% from the company’s current price.

A number of other research analysts have also issued reports on ISRG. Evercore set a $430.00 price target on Intuitive Surgical in a research report on Monday, July 6th. Barclays set a $651.00 target price on Intuitive Surgical and gave the company an “overweight” rating in a report on Thursday, April 23rd. Royal Bank Of Canada dropped their price target on Intuitive Surgical from $650.00 to $600.00 and set an “outperform” rating on the stock in a research note on Monday. JPMorgan Chase & Co. cut their price objective on Intuitive Surgical from $625.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating for the company in a research note on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $562.62.

Intuitive Surgical Price Performance

ISRG traded up $9.76 during trading hours on Thursday, hitting $398.73. 1,464,868 shares of the stock were exchanged, compared to its average volume of 2,205,032. The stock has a market cap of $141.21 billion, a price-to-earnings ratio of 48.38, a price-to-earnings-growth ratio of 3.09 and a beta of 1.46. The stock has a 50-day simple moving average of $418.39 and a 200-day simple moving average of $469.98. Intuitive Surgical has a 12 month low of $378.50 and a 12 month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period in the prior year, the company earned $1.81 earnings per share. The business’s revenue was up 23.0% compared to the same quarter last year. Sell-side analysts expect that Intuitive Surgical will post 8.57 EPS for the current year.

Insider Transactions at Intuitive Surgical

In related news, Director Amy L. Ladd sold 119 shares of the stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total transaction of $55,156.50. Following the completion of the sale, the director owned 120 shares in the company, valued at $55,620. This trade represents a 49.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of Intuitive Surgical stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the transaction, the senior vice president directly owned 6,463 shares of the company’s stock, valued at $2,718,014.65. This represents a 46.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 7,169 shares of company stock valued at $3,059,135. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Intuitive Surgical

Large investors have recently bought and sold shares of the business. Holos Integrated Wealth LLC bought a new position in Intuitive Surgical in the 4th quarter valued at $25,000. Newbridge Financial Services Group Inc. increased its position in Intuitive Surgical by 300.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 33 shares in the last quarter. Olistico Wealth LLC bought a new position in Intuitive Surgical in the 4th quarter valued at $28,000. Main Street Group LTD bought a new position in Intuitive Surgical in the 1st quarter valued at $30,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Intuitive Surgical in the 4th quarter valued at $31,000. 83.64% of the stock is currently owned by institutional investors.

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.