Intuitive Surgical (NASDAQ:ISRG) Given New $529.00 Price Target at BTIG Research

Key Points

• BTIG Research has revised its price target for Intuitive Surgical from $571.00 to $529.00, while maintaining a "buy" rating, indicating a potential upside of 23.14%.
• Intuitive Surgical reported $2.19 earnings per share last quarter, surpassing the consensus estimate of $1.93, with revenue increasing 21.4% year-over-year.
• Current consensus rating for Intuitive Surgical's stock is "Moderate Buy," with a consensus target price of $587.43 based on fourteen buy ratings, seven holds, and one sell rating from analysts.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) had its price target dropped by BTIG Research from $571.00 to $529.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the medical equipment provider's stock. BTIG Research's price objective suggests a potential upside of 23.14% from the stock's previous close.

Other equities research analysts also recently issued research reports about the company. UBS Group lifted their price objective on Intuitive Surgical from $547.00 to $585.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Intuitive Surgical in a research report on Friday, August 22nd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Intuitive Surgical in a research report on Wednesday, October 8th. Evercore ISI lowered their price objective on Intuitive Surgical from $535.00 to $450.00 and set an "in-line" rating for the company in a research report on Tuesday, October 7th. Finally, Truist Financial lifted their price objective on Intuitive Surgical from $590.00 to $600.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Fourteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $587.43.

Intuitive Surgical Stock Performance

Intuitive Surgical stock opened at $429.59 on Monday. The stock has a fifty day moving average of $458.68 and a two-hundred day moving average of $497.84. The company has a market capitalization of $154.00 billion, a price-to-earnings ratio of 59.91, a PEG ratio of 4.51 and a beta of 1.61. Intuitive Surgical has a fifty-two week low of $425.00 and a fifty-two week high of $616.00.

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

Insider Activity

In other news, Director Amy L. Ladd sold 336 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $470.11, for a total transaction of $157,956.96. Following the completion of the transaction, the director directly owned 1,074 shares of the company's stock, valued at approximately $504,898.14. This represents a 23.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary S. Guthart sold 29,360 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $472.49, for a total value of $13,872,306.40. Following the completion of the transaction, the insider directly owned 19,827 shares of the company's stock, valued at $9,368,059.23. This trade represents a 59.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,224 shares of company stock valued at $21,716,492. 0.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Aaron Wealth Advisors LLC lifted its holdings in shares of Intuitive Surgical by 0.8% during the second quarter. Aaron Wealth Advisors LLC now owns 2,528 shares of the medical equipment provider's stock valued at $1,374,000 after purchasing an additional 19 shares during the last quarter. Crown Wealth Group LLC grew its position in shares of Intuitive Surgical by 4.8% during the 1st quarter. Crown Wealth Group LLC now owns 440 shares of the medical equipment provider's stock valued at $218,000 after acquiring an additional 20 shares during the period. FSM Wealth Advisors LLC boosted its holdings in Intuitive Surgical by 3.8% in the 1st quarter. FSM Wealth Advisors LLC now owns 546 shares of the medical equipment provider's stock worth $270,000 after buying an additional 20 shares during the period. CFO4Life Group LLC boosted its holdings in Intuitive Surgical by 4.8% in the 1st quarter. CFO4Life Group LLC now owns 436 shares of the medical equipment provider's stock worth $216,000 after buying an additional 20 shares during the period. Finally, J. W. Coons Advisors LLC lifted its stake in Intuitive Surgical by 1.4% in the 1st quarter. J. W. Coons Advisors LLC now owns 1,497 shares of the medical equipment provider's stock worth $741,000 after purchasing an additional 20 shares in the last quarter. Institutional investors own 83.64% of the company's stock.

About Intuitive Surgical

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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