Intuitive Surgical (NASDAQ:ISRG) Given New $600.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut its price target on Intuitive Surgical from $650 to $600 but kept an outperform rating, implying about 47% upside from the current price.
• Intuitive Surgical reported better-than-expected Q1 earnings, posting $2.50 EPS on $2.77 billion in revenue, with revenue up 23% year over year.
• The stock traded around $408.12 on Monday, well below its 52-week high of $603.88, while analyst sentiment remains positive overall with a Moderate Buy consensus and an average price target of $564.72.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) had its price objective reduced by stock analysts at Royal Bank Of Canada from $650.00 to $600.00 in a report released on Monday,Benzinga reports. The firm presently has an "outperform" rating on the medical equipment provider's stock. Royal Bank Of Canada's price target would suggest a potential upside of 47.01% from the stock's current price.

A number of other equities research analysts have also commented on the stock. Wall Street Zen raised shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. HSBC lowered their target price on shares of Intuitive Surgical from $653.00 to $604.00 and set a "buy" rating for the company in a research note on Wednesday, April 22nd. Citigroup restated a "buy" rating on shares of Intuitive Surgical in a report on Wednesday. Barclays set a $651.00 price target on shares of Intuitive Surgical and gave the company an "overweight" rating in a research report on Thursday, April 23rd. Finally, Leerink Partners lowered their price objective on Intuitive Surgical from $622.00 to $573.00 and set an "outperform" rating for the company in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $564.72.

Intuitive Surgical Stock Performance

Shares of ISRG traded up $1.34 during mid-day trading on Monday, reaching $408.12. 378,337 shares of the company were exchanged, compared to its average volume of 2,157,245. The business has a 50 day simple moving average of $422.09 and a two-hundred day simple moving average of $473.91. The stock has a market capitalization of $144.54 billion, a PE ratio of 49.55, a PEG ratio of 3.31 and a beta of 1.46. Intuitive Surgical has a 52 week low of $396.68 and a 52 week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.08 by $0.42. The business 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 period in the prior year, the business posted $1.81 earnings per share. On average, analysts predict that Intuitive Surgical will post 8.57 EPS for the current year.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, SVP Iman Jeddi sold 5,625 shares of the firm's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $420.55, for a total value of $2,365,593.75. Following the transaction, the senior vice president directly owned 6,463 shares of the company's stock, valued at approximately $2,718,014.65. This trade represents a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of Intuitive Surgical stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total transaction of $55,156.50. Following the transaction, the director owned 120 shares of the company's stock, valued at $55,620. This represents a 49.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 7,169 shares of company stock worth $3,059,135. 0.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intuitive Surgical

Hedge funds have recently added to or reduced their stakes in the stock. Riversedge Advisors LLC boosted its holdings in Intuitive Surgical by 1.9% during the 4th quarter. Riversedge Advisors LLC now owns 901 shares of the medical equipment provider's stock worth $510,000 after acquiring an additional 17 shares during the last quarter. Fiduciary Financial Group LLC raised its holdings in shares of Intuitive Surgical by 2.1% in the fourth quarter. Fiduciary Financial Group LLC now owns 920 shares of the medical equipment provider's stock valued at $521,000 after purchasing an additional 19 shares during the last quarter. Prosperity Consulting Group LLC lifted its position in shares of Intuitive Surgical by 0.5% during the third quarter. Prosperity Consulting Group LLC now owns 4,033 shares of the medical equipment provider's stock valued at $1,804,000 after purchasing an additional 19 shares in the last quarter. Sunburst Financial Group LLC lifted its position in shares of Intuitive Surgical by 4.3% during the fourth quarter. Sunburst Financial Group LLC now owns 485 shares of the medical equipment provider's stock valued at $275,000 after purchasing an additional 20 shares in the last quarter. Finally, WoodTrust Financial Corp boosted its holdings in Intuitive Surgical by 0.5% during the fourth quarter. WoodTrust Financial Corp now owns 4,180 shares of the medical equipment provider's stock worth $2,367,000 after purchasing an additional 20 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company's stock.

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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