Intuitive Surgical (NASDAQ:ISRG) Given New $450.00 Price Target at Evercore ISI

Key Points

• Evercore ISI has lowered the price target for Intuitive Surgical (NASDAQ:ISRG) from $535.00 to $450.00, maintaining an "in-line" rating which suggests a potential upside of 1.92% from its current stock price.
• The company reported earnings of $2.19 per share for the latest quarter, exceeding analyst expectations of $1.93 and achieving a 21.4% year-over-year revenue increase.
• Despite recent price target reductions from other brokerages, there is a consensus rating of "Moderate Buy" with an average target price of $589.43, indicating potential investor interest amid market fluctuations.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) had its price target lowered by Evercore ISI from $535.00 to $450.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an "in-line" rating on the medical equipment provider's stock. Evercore ISI's target price would suggest a potential upside of 1.92% from the stock's current price.

Several other brokerages also recently weighed in on ISRG. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Intuitive Surgical in a report on Friday, August 22nd. The Goldman Sachs Group reduced their price target on Intuitive Surgical from $621.00 to $567.00 and set a "buy" rating on the stock in a report on Wednesday, October 1st. Zacks Research downgraded Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. Piper Sandler reiterated an "overweight" rating and issued a $595.00 price target (up from $575.00) on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $615.00 price target on shares of Intuitive Surgical in a report on Tuesday, August 19th. Fourteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $589.43.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG traded down $8.15 during trading on Tuesday, hitting $441.54. The company had a trading volume of 1,091,090 shares, compared to its average volume of 2,062,431. The stock has a market cap of $158.28 billion, a price-to-earnings ratio of 61.56, a price-to-earnings-growth ratio of 4.74 and a beta of 1.61. Intuitive Surgical has a one year low of $425.00 and a one year high of $616.00. The company has a fifty day simple moving average of $462.67 and a two-hundred day simple moving average of $499.82.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.26. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the company earned $1.78 EPS. The company's revenue for the quarter was up 21.4% on a year-over-year basis. On average, equities research analysts anticipate that Intuitive Surgical will post 6.43 earnings per share for the current year.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, EVP Myriam Curet sold 4,500 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the sale, the executive vice president owned 353 shares of the company's stock, valued at approximately $173,845.44. This trade represents a 92.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary S. Guthart sold 29,360 shares of the stock in a transaction on Friday, August 29th. The shares were sold at an average price of $472.49, for a total value of $13,872,306.40. Following the sale, the insider directly owned 19,827 shares in the company, valued at $9,368,059.23. This trade represents a 59.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,224 shares of company stock valued at $21,716,492. 0.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Intuitive Surgical

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norway Savings Bank boosted its position in shares of Intuitive Surgical by 53.4% in the 2nd quarter. Norway Savings Bank now owns 2,613 shares of the medical equipment provider's stock worth $1,420,000 after purchasing an additional 910 shares in the last quarter. IronOak Wealth LLC. acquired a new stake in shares of Intuitive Surgical in the 2nd quarter worth $1,099,000. Trust Co. of Oklahoma acquired a new stake in shares of Intuitive Surgical in the 2nd quarter worth $363,000. Neville Rodie & Shaw Inc. boosted its position in shares of Intuitive Surgical by 11.9% in the 2nd quarter. Neville Rodie & Shaw Inc. now owns 10,427 shares of the medical equipment provider's stock worth $5,666,000 after purchasing an additional 1,110 shares in the last quarter. Finally, Banque Pictet & Cie SA boosted its position in shares of Intuitive Surgical by 12.1% in the 2nd quarter. Banque Pictet & Cie SA now owns 37,768 shares of the medical equipment provider's stock worth $20,524,000 after purchasing an additional 4,085 shares in the last quarter. Institutional investors own 83.64% of the company's stock.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.

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