Intuitive Surgical (NASDAQ:ISRG) Price Target Cut to $520.00 by Analysts at Mizuho

Key Points

• Mizuho analysts have cut the price target for Intuitive Surgical from $570 to $520, maintaining a "neutral" rating, which suggests a potential upside of 20.57% from the current stock price.
• Despite this downgrade, **fourteen research analysts** continue to give Intuitive Surgical a Buy rating, leading to a consensus rating of "Moderate Buy" with an average target price of $585.71.
• Intuitive Surgical reported earnings of $2.19 per share for the last quarter, exceeding analyst expectations, and showing a revenue increase of 21.4% year-over-year, totaling $2.44 billion.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) had its price objective decreased by equities research analysts at Mizuho from $570.00 to $520.00 in a note issued to investors on Tuesday,MarketScreener reports. The brokerage currently has a "neutral" rating on the medical equipment provider's stock. Mizuho's price target suggests a potential upside of 20.57% from the company's current price.

ISRG has been the topic of a number of other research reports. Royal Bank Of Canada reissued an "outperform" rating and set a $615.00 price objective on shares of Intuitive Surgical in a report on Tuesday, August 19th. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Intuitive Surgical in a research note on Friday, August 22nd. Zacks Research lowered Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. BTIG Research dropped their target price on shares of Intuitive Surgical from $571.00 to $529.00 and set a "buy" rating for the company in a report on Monday. Finally, Erste Group Bank reissued a "hold" rating on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Fourteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Intuitive Surgical presently has a consensus rating of "Moderate Buy" and an average target price of $585.71.

Intuitive Surgical Trading Down 1.0%

NASDAQ:ISRG opened at $431.29 on Tuesday. Intuitive Surgical has a 12-month low of $425.00 and a 12-month high of $616.00. The stock's 50 day simple moving average is $457.73 and its 200-day simple moving average is $497.44. The firm has a market cap of $154.61 billion, a P/E ratio of 60.11, a PEG ratio of 4.51 and a beta of 1.61.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) 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 business 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. The business's revenue was up 21.4% compared to the same quarter last year. Research analysts forecast that Intuitive Surgical will post 6.43 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Myriam Curet sold 4,500 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the completion of the sale, the executive vice president directly owned 353 shares in the company, valued at $173,845.44. This represents a 92.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Gary S. Guthart sold 29,360 shares of the stock in a transaction 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 in the company, 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 quarter, insiders sold 45,224 shares of company stock valued at $21,716,492. Insiders own 0.70% of the company's stock.

Institutional Trading of Intuitive Surgical

A number of institutional investors have recently modified their holdings of ISRG. Norway Savings Bank lifted its holdings in shares of Intuitive Surgical by 53.4% during the 2nd quarter. Norway Savings Bank now owns 2,613 shares of the medical equipment provider's stock valued at $1,420,000 after acquiring an additional 910 shares in the last quarter. IronOak Wealth LLC. purchased a new stake in shares of Intuitive Surgical during the 2nd quarter valued at about $1,099,000. Trust Co. of Oklahoma acquired a new position in Intuitive Surgical during the 2nd quarter worth approximately $363,000. Neville Rodie & Shaw Inc. boosted its holdings in Intuitive Surgical by 11.9% in the 2nd quarter. Neville Rodie & Shaw Inc. now owns 10,427 shares of the medical equipment provider's stock worth $5,666,000 after acquiring an additional 1,110 shares during the period. Finally, Sax Wealth Advisors LLC grew its position in Intuitive Surgical by 218.1% in the second quarter. Sax Wealth Advisors LLC now owns 2,456 shares of the medical equipment provider's stock valued at $1,334,000 after acquiring an additional 1,684 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

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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