Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for Intuitive Surgical (NASDAQ:ISRG) Stock Price

Key Points

• Deutsche Bank cut its price target on Intuitive Surgical from $440 to $366 and kept a sell rating, implying about 8.96% downside from the prior close.
• The stock fell sharply on Tuesday, trading at $402.02, even as the company reported a stronger-than-expected quarter with $2.50 EPS and $2.77 billion in revenue, both above analyst estimates.
• Despite the bearish note from Deutsche Bank, Wall Street remains more constructive overall: 19 Buy, 7 Hold, and 1 Sell ratings give the stock a Moderate Buy consensus, with an average target of $573.63.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) had its price objective lowered by equities researchers at Deutsche Bank Aktiengesellschaft from $440.00 to $366.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The firm currently has a "sell" rating on the medical equipment provider's stock. Deutsche Bank Aktiengesellschaft's target price suggests a potential downside of 8.96% from the stock's previous close.

ISRG has been the topic of several other reports. Citigroup raised shares of Intuitive Surgical from a "neutral" rating to a "buy" rating and set a $590.00 target price on the stock in a research note on Wednesday, March 11th. Leerink Partners cut their target price on shares of Intuitive Surgical from $622.00 to $573.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 22nd. Evercore cut their target price on shares of Intuitive Surgical from $550.00 to $480.00 and set a "neutral" rating on the stock in a research note on Monday, April 6th. Jefferies Financial Group cut their target price on shares of Intuitive Surgical from $560.00 to $515.00 and set a "hold" rating on the stock in a research note on Wednesday, April 22nd. Finally, TD Cowen cut their target price on shares of Intuitive Surgical from $660.00 to $585.00 and set a "buy" rating on the stock in a research note on Wednesday, April 22nd. Nineteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $573.63.

Intuitive Surgical Stock Performance

Shares of NASDAQ ISRG traded down $22.62 during trading on Tuesday, hitting $402.02. The company had a trading volume of 3,029,105 shares, compared to its average volume of 2,241,224. The company has a market cap of $142.38 billion, a P/E ratio of 49.89, a PEG ratio of 3.39 and a beta of 1.46. Intuitive Surgical has a 52 week low of $411.83 and a 52 week high of $603.88. The business's 50-day moving average is $452.19 and its 200 day moving average is $504.81.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.42. The company had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.62 billion. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The firm's revenue was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.81 earnings per share. On average, research analysts expect that Intuitive Surgical will post 8.57 EPS for the current year.

Insider Activity at Intuitive Surgical

In other news, Director Amy L. Ladd sold 500 shares of the company's stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $473.46, for a total value of $236,730.00. Following the transaction, the director directly owned 239 shares of the company's stock, valued at approximately $113,156.94. This represents a 67.66% decrease in their ownership of the stock. The transaction 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, SVP Mark Brosius sold 2,362 shares of the company's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $498.68, for a total transaction of $1,177,882.16. Following the completion of the transaction, the senior vice president directly owned 3,554 shares in the company, valued at $1,772,308.72. This trade represents a 39.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 4,833 shares of company stock valued at $2,357,582. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuitive Surgical

A number of hedge funds have recently modified their holdings of ISRG. Draper Asset Management LLC boosted its holdings in Intuitive Surgical by 41.9% during the fourth quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider's stock valued at $2,848,000 after acquiring an additional 1,485 shares during the period. Procyon Advisors LLC boosted its holdings in Intuitive Surgical by 787.8% during the fourth quarter. Procyon Advisors LLC now owns 4,794 shares of the medical equipment provider's stock valued at $2,715,000 after acquiring an additional 4,254 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Intuitive Surgical by 29.3% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider's stock valued at $40,255,000 after acquiring an additional 16,119 shares during the period. Vanguard Group Inc. boosted its holdings in Intuitive Surgical by 0.8% during the third quarter. Vanguard Group Inc. now owns 33,599,661 shares of the medical equipment provider's stock valued at $15,026,776,000 after acquiring an additional 263,828 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in Intuitive Surgical by 22.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,463 shares of the medical equipment provider's stock valued at $5,127,000 after acquiring an additional 2,102 shares during the period. 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.

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