Intuitive Surgical (NASDAQ:ISRG) Hits New 12-Month Low - What's Next?

Key Points

• Intuitive Surgical shares hit a new 52-week low during Monday trading, falling as low as $423.33 and closing well below the prior session’s $450.06 level.
• Analysts remain broadly positive despite several price-target cuts, with 18 Buy ratings, 7 Hold ratings, 1 Sell rating, and an average target price of $581.91.
• Recent fundamentals were strong in the company’s latest quarterly report, as earnings of $2.50 per share and revenue of $2.77 billion both topped estimates and rose 23% year over year.

Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $423.33 and last traded at $423.3410, with a volume of 988863 shares trading hands. The stock had previously closed at $450.06.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Intuitive Surgical from $625.00 to $550.00 and set an "overweight" rating for the company in a research note on Wednesday, April 22nd. The Goldman Sachs Group boosted their target price on shares of Intuitive Surgical from $609.00 to $621.00 and gave the company a "buy" rating in a research note on Wednesday, April 22nd. Leerink Partners reduced their target price on Intuitive Surgical from $622.00 to $573.00 and set an "outperform" rating for the company in a report on Wednesday, April 22nd. UBS Group lowered their price target on Intuitive Surgical from $570.00 to $550.00 and set a "neutral" rating on the stock in a report on Tuesday, March 17th. Finally, Raymond James Financial dropped their price target on Intuitive Surgical from $615.00 to $577.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 22nd. Eighteen 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $581.91.

Intuitive Surgical Trading Down 6.7%

The company has a market cap of $148.77 billion, a PE ratio of 50.92, a P/E/G ratio of 3.59 and a beta of 1.51. The business's 50-day simple moving average is $472.19 and its 200-day simple moving average is $517.39.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly 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. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The business had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.62 billion. During the same period in the previous year, the company posted $1.81 EPS. Intuitive Surgical's revenue was up 23.0% on a year-over-year basis. On average, research analysts predict that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

Insider Transactions at Intuitive Surgical

In other news, SVP Patricia L. Wadors sold 220 shares of Intuitive Surgical stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $499.71, for a total transaction of $109,936.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Myriam Curet sold 421 shares of the business's stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total value of $208,378.16. Following the completion of the sale, the executive vice president directly owned 409 shares of the company's stock, valued at approximately $202,438.64. The trade was a 50.72% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 5,906 shares of company stock valued at $2,907,726. Corporate insiders own 0.60% of the company's stock.

Institutional Trading of Intuitive Surgical

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Intuitive Surgical by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 33,599,661 shares of the medical equipment provider's stock valued at $15,026,776,000 after purchasing an additional 263,828 shares during the last quarter. State Street Corp increased its position in Intuitive Surgical by 1.0% during the fourth quarter. State Street Corp now owns 15,701,591 shares of the medical equipment provider's stock worth $8,892,753,000 after buying an additional 162,264 shares during the last quarter. Capital World Investors raised its holdings in Intuitive Surgical by 1.7% during the fourth quarter. Capital World Investors now owns 7,856,018 shares of the medical equipment provider's stock valued at $4,449,491,000 after buying an additional 127,526 shares in the last quarter. Norges Bank acquired a new stake in shares of Intuitive Surgical in the fourth quarter worth about $2,856,987,000. Finally, Invesco Ltd. lifted its position in shares of Intuitive Surgical by 17.4% in the fourth quarter. Invesco Ltd. now owns 4,128,735 shares of the medical equipment provider's stock worth $2,338,350,000 after buying an additional 611,268 shares during the last quarter. 83.64% of the stock is currently 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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