Intuitive Surgical (NASDAQ:ISRG) Price Target Cut to $510.00 by Analysts at Truist Financial

Key Points

• Truist Financial cut its price target on Intuitive Surgical to $510 from $580, while keeping a buy rating. The new target still implies about 27.9% upside from the previous close.
• Other analysts were mixed but generally positive, with recent targets ranging from $520 to $670 and the stock carrying a consensus "Moderate Buy" rating. MarketBeat data shows a consensus price target of $562.62.
• Intuitive Surgical reported strong quarterly results, with EPS of $2.50 and revenue of $2.77 billion, both ahead of estimates. Revenue rose 23% year over year, reinforcing the company’s growth momentum despite recent analyst target cuts.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) had its price objective dropped by research analysts at Truist Financial from $580.00 to $510.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the medical equipment provider's stock. Truist Financial's price target indicates a potential upside of 27.91% from the stock's previous close.

A number of other research analysts have also weighed in on the company. Stifel Nicolaus set a $670.00 price objective on Intuitive Surgical in a report on Tuesday. TD Cowen reduced their price objective on Intuitive Surgical from $585.00 to $520.00 and set a "buy" rating on the stock in a research report on Monday. Weiss Ratings reissued a "hold (c)" rating on shares of Intuitive Surgical in a research note on Tuesday, May 19th. Leerink Partners lowered their price target on shares of Intuitive Surgical from $622.00 to $573.00 and set an "outperform" rating for the company in a report on Wednesday, April 22nd. Finally, Raymond James Financial reduced their price objective on shares of Intuitive Surgical from $615.00 to $577.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Intuitive Surgical currently has a consensus rating of "Moderate Buy" and a consensus target price of $562.62.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG traded up $9.76 during trading on Thursday, hitting $398.73. The company's stock had a trading volume of 1,464,868 shares, compared to its average volume of 2,205,032. Intuitive Surgical has a fifty-two week low of $378.50 and a fifty-two week high of $603.88. The business has a 50 day moving average price of $418.39 and a two-hundred day moving average price of $469.98. The company has a market capitalization of $141.21 billion, a PE ratio of 48.38, a P/E/G ratio of 3.09 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the prior year, the firm earned $1.81 earnings per share. The business's quarterly revenue was up 23.0% compared to the same quarter last year. As a group, equities analysts expect that Intuitive Surgical will post 8.57 earnings per share for the current fiscal year.

Insider Transactions at Intuitive Surgical

In other Intuitive Surgical news, SVP Iman Jeddi sold 5,625 shares of the business'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 owned 6,463 shares in the company, valued at $2,718,014.65. The trade was a 46.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the firm's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total value of $169,656.00. Following the sale, the executive vice president owned 5,720 shares of the company's stock, valued at $2,426,080.80. This represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 7,169 shares of company stock valued at $3,059,135. Corporate insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Holos Integrated Wealth LLC acquired a new stake in shares of Intuitive Surgical during the fourth quarter worth approximately $25,000. Newbridge Financial Services Group Inc. raised its holdings in Intuitive Surgical by 300.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 33 shares in the last quarter. Olistico Wealth LLC acquired a new stake in Intuitive Surgical in the fourth quarter valued at $28,000. Main Street Group LTD bought a new position in Intuitive Surgical during the 1st quarter valued at $30,000. Finally, Laurel Wealth Advisors LLC acquired a new position in Intuitive Surgical during the 4th quarter worth $31,000. Hedge funds and other institutional investors 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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