Intuitive Surgical (NASDAQ:ISRG) Given New $567.00 Price Target at The Goldman Sachs Group

Key Points

• Goldman Sachs has reduced its price target for Intuitive Surgical from $621 to $567, maintaining a "buy" rating, suggesting a potential upside of 26.78% based on the current stock price.
• Intuitive Surgical reported a quarterly earnings per share of $2.19, exceeding analysts' expectations of $1.93, with a significant revenue increase of 21.4% year-over-year.
• Despite recent insider selling, institutional investors, including Vanguard Group and State Street Corp, have increased their stakes in Intuitive Surgical, indicating ongoing confidence in the company's prospects.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) had its price objective cut by investment analysts at The Goldman Sachs Group from $621.00 to $567.00 in a research report issued on Wednesday,MarketScreener reports. The brokerage currently has a "buy" rating on the medical equipment provider's stock. The Goldman Sachs Group's target price would suggest a potential upside of 26.78% from the company's current price.

Other equities analysts have also recently issued reports about the company. UBS Group raised their target price on Intuitive Surgical from $547.00 to $585.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada reissued an "outperform" rating and issued a $615.00 target price on shares of Intuitive Surgical in a research report on Tuesday, August 19th. Truist Financial boosted their price objective on Intuitive Surgical from $590.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. BTIG Research reaffirmed a "buy" rating and issued a $571.00 target price on shares of Intuitive Surgical in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Intuitive Surgical in a research report on Friday, August 22nd. Fourteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Intuitive Surgical presently has an average rating of "Moderate Buy" and a consensus target price of $594.19.

Intuitive Surgical Price Performance

Shares of ISRG stock opened at $447.23 on Wednesday. Intuitive Surgical has a 1-year low of $425.00 and a 1-year high of $616.00. The company has a market cap of $160.32 billion, a price-to-earnings ratio of 62.38, a PEG ratio of 4.60 and a beta of 1.61. The stock has a 50 day simple moving average of $466.61 and a 200-day simple moving average of $500.97.

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

Insiders Place Their Bets

In other Intuitive Surgical news, EVP Myriam Curet sold 4,500 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $492.48, for a total value of $2,216,160.00. Following the transaction, the executive vice president directly owned 353 shares in the company, valued at approximately $173,845.44. This represents a 92.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy L. Ladd sold 336 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $470.11, for a total value of $157,956.96. Following the transaction, the director directly owned 1,074 shares in the company, valued at approximately $504,898.14. This represents a 23.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,224 shares of company stock valued at $21,716,492. Corporate insiders own 0.70% of the company's stock.

Institutional Trading of Intuitive Surgical

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Intuitive Surgical by 2.1% during the second quarter. Vanguard Group Inc. now owns 33,335,833 shares of the medical equipment provider's stock worth $18,115,025,000 after purchasing an additional 670,302 shares in the last quarter. State Street Corp lifted its holdings in Intuitive Surgical by 1.2% in the 2nd quarter. State Street Corp now owns 15,552,203 shares of the medical equipment provider's stock worth $8,451,223,000 after buying an additional 182,871 shares in the last quarter. Geode Capital Management LLC boosted its position in Intuitive Surgical by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 8,188,685 shares of the medical equipment provider's stock valued at $4,429,590,000 after buying an additional 109,904 shares during the last quarter. Norges Bank acquired a new stake in shares of Intuitive Surgical during the second quarter valued at about $2,569,260,000. Finally, Invesco Ltd. increased its position in shares of Intuitive Surgical by 4.8% during the second quarter. Invesco Ltd. now owns 4,421,133 shares of the medical equipment provider's stock worth $2,402,488,000 after acquiring an additional 201,159 shares during the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

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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