BTIG Research Issues Pessimistic Forecast for Intuitive Surgical (NASDAQ:ISRG) Stock Price

Key Points

• BTIG Research lowered Intuitive Surgical’s price target from $469 to $454 while maintaining a “buy” rating, implying 7.09% upside from the prior close.
• Analyst sentiment remains generally positive but targets have declined, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $501.98.
• Intuitive Surgical reported stronger-than-expected quarterly results, including $2.80 EPS and $2.89 billion in revenue, while insiders sold approximately $4.9 million of shares over the past 90 days.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) had its price target dropped by stock analysts at BTIG Research from $469.00 to $454.00 in a research report issued on Monday, Benzinga reports. The firm currently has a "buy" rating on the medical equipment provider's stock. BTIG Research's price objective suggests a potential upside of 7.09% from the company's previous close.

Other equities analysts have also recently issued reports about the company. Wall Street Zen cut Intuitive Surgical from a "buy" rating to a "hold" rating in a research report on Sunday, September 20th. Leerink Partners dropped their price objective on Intuitive Surgical from $573.00 to $454.00 and set an "outperform" rating on the stock in a report on Friday, July 17th. Raymond James Financial restated an "outperform" rating and issued a $483.00 target price (down from $577.00) on shares of Intuitive Surgical in a research note on Friday, July 17th. Mizuho set a $500.00 target price on Intuitive Surgical and gave the company a "neutral" rating in a report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. reduced their target price on Intuitive Surgical from $550.00 to $450.00 and set an "overweight" rating for the company in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $501.98.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $423.96 on Monday. The firm's 50 day moving average is $386.36 and its 200 day moving average is $410.79. The stock has a market capitalization of $149.78 billion, a P/E ratio of 48.56, a PEG ratio of 3.20 and a beta of 1.46. Intuitive Surgical has a 12 month low of $328.57 and a 12 month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings data on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share for the quarter, beating analysts' consensus estimates of $2.48 by $0.32. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.83 billion. Intuitive Surgical had a net margin of 28.45% and a return on equity of 16.91%. Intuitive Surgical's revenue was up 18.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.81 EPS. On average, equities analysts predict that Intuitive Surgical will post 8.87 EPS for the current year.

Insider Buying and Selling at Intuitive Surgical

In other news, Director Amy L. Ladd sold 400 shares of Intuitive Surgical stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $379.00, for a total transaction of $151,600.00. Following the completion of the sale, the director owned 251 shares in the company, valued at approximately $95,129. This trade represents a 61.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gary S. Guthart sold 10,000 shares of the business's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $400.00, for a total value of $4,000,000.00. Following the transaction, the director directly owned 1,245,679 shares of the company's stock, valued at $498,271,600. The trade was a 0.80% decrease in their position. 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. Insiders sold 12,370 shares of company stock valued at $4,891,989 over the last 90 days. Insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Intuitive Surgical

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jacobs & Co. CA increased its stake in shares of Intuitive Surgical by 12.5% during the third quarter. Jacobs & Co. CA now owns 29,299 shares of the medical equipment provider's stock valued at $11,913,000 after purchasing an additional 3,256 shares in the last quarter. Valley Wealth Managers Inc. lifted its holdings in shares of Intuitive Surgical by 2.4% during the third quarter. Valley Wealth Managers Inc. now owns 4,954 shares of the medical equipment provider's stock valued at $2,014,000 after purchasing an additional 115 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI boosted its position in shares of Intuitive Surgical by 6.4% in the 3rd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 41,642 shares of the medical equipment provider's stock worth $16,933,000 after purchasing an additional 2,512 shares in the last quarter. Atlas Brown Inc. boosted its position in shares of Intuitive Surgical by 6.0% in the 3rd quarter. Atlas Brown Inc. now owns 563 shares of the medical equipment provider's stock worth $229,000 after purchasing an additional 32 shares in the last quarter. Finally, Sound Income Strategies LLC bought a new stake in shares of Intuitive Surgical in the 3rd quarter worth approximately $439,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc develops and commercializes robotic-assisted systems and related technologies designed to support minimally invasive medical procedures. The company's products are intended to help surgeons perform operations through small incisions while providing enhanced visualization, precision, and control.

Its principal product is the da Vinci Surgical System, a platform used across a range of specialties, including general surgery, urology, gynecology, thoracic surgery, and cardiac procedures.

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