Intuitive Surgical (NASDAQ:ISRG) Price Target Cut to $580.00 by Analysts at Truist Financial

Key Points

• Truist cut its price target on Intuitive Surgical to $580 from $650 but kept a "buy" rating, implying about a 22.8% upside from the current share price.
• Intuitive beat quarterly estimates with EPS of $2.53 (vs. $2.27 est.) and revenue of $2.87B (up 18.8% YoY); shares trade around $472 with a consensus analyst price target of $598.36 and a 12‑month range of $427.84–$603.88.
• Insiders have sold ~32,943 shares worth $17.28M in the past 90 days (insiders own 0.60%), while institutional investors hold 83.64% of the stock.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) had its price target dropped by investment analysts at Truist Financial from $650.00 to $580.00 in a report issued on Wednesday,MarketScreener reports. The firm presently has a "buy" rating on the medical equipment provider's stock. Truist Financial's price objective would suggest a potential upside of 22.81% from the stock's current price.

Other equities research analysts have also recently issued research reports about the stock. Barclays set a $712.00 price objective on shares of Intuitive Surgical and gave the stock an "overweight" rating in a research note on Monday, January 26th. Mizuho set a $525.00 price objective on shares of Intuitive Surgical and gave the stock a "neutral" rating in a research note on Monday. Argus dropped their price objective on shares of Intuitive Surgical from $630.00 to $560.00 and set a "buy" rating on the stock in a research note on Wednesday, February 4th. Zacks Research cut shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. Finally, Raymond James Financial raised their price objective on shares of Intuitive Surgical from $603.00 to $615.00 and gave the stock an "outperform" rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $598.36.

Intuitive Surgical Trading Up 1.1%

Shares of NASDAQ:ISRG opened at $472.26 on Wednesday. Intuitive Surgical has a twelve month low of $427.84 and a twelve month high of $603.88. The company's 50 day moving average is $480.16 and its 200 day moving average is $514.98. The company has a market cap of $167.71 billion, a PE ratio of 59.95, a price-to-earnings-growth ratio of 3.58 and a beta of 1.68.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.26. Intuitive Surgical had a net margin of 28.38% and a return on equity of 15.06%. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter in the prior year, the company earned $2.21 EPS. Intuitive Surgical's quarterly revenue was up 18.8% on a year-over-year basis. Equities research analysts predict that Intuitive Surgical will post 6.43 earnings per share for the current fiscal year.

Insider Activity at Intuitive Surgical

In related news, SVP Patricia L. Wadors sold 220 shares of Intuitive Surgical stock in a transaction on Friday, February 27th. The shares were sold at an average price of $499.71, for a total value of $109,936.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Fredrik Widman sold 133 shares of Intuitive Surgical stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total transaction of $65,829.68. Following the completion of the sale, the vice president directly owned 660 shares in the company, valued at $326,673.60. This represents a 16.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 32,943 shares of company stock worth $17,279,568 over the last 90 days. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Intuitive Surgical

Institutional investors have recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. grew its stake in Intuitive Surgical by 300.0% in the 4th 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 during the period. Holos Integrated Wealth LLC acquired a new stake in Intuitive Surgical in the 4th quarter valued at $25,000. Olistico Wealth LLC acquired a new stake in Intuitive Surgical in the 4th quarter valued at $28,000. Laurel Wealth Advisors LLC acquired a new stake in Intuitive Surgical in the 4th quarter valued at $31,000. Finally, Turning Point Benefit Group Inc. grew its stake in Intuitive Surgical by 833.3% in the 4th quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider's stock valued at $32,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds own 83.64% of the company's stock.

About Intuitive Surgical

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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