Intuitive Surgical (NASDAQ:ISRG) Price Target Lowered to $536.00 at Robert W. Baird

Key Points

• Intuitive Surgical's price target has been lowered by Robert W. Baird from $600.00 to $536.00, although the firm maintains an "outperform" rating on the stock.
• Other analysts have varied assessments with price targets ranging from $450.00 to $595.00, indicating a mixed outlook among market experts.
• The company's recent quarterly report showed a 21.4% increase in revenue year-over-year, highlighting strong performance with an EPS of $2.19, surpassing expectations.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) had its price objective reduced by Robert W. Baird from $600.00 to $536.00 in a research note issued on Wednesday,MarketScreener reports. The brokerage currently has an "outperform" rating on the medical equipment provider's stock. Robert W. Baird's price target indicates a potential upside of 22.40% from the stock's previous close.

A number of other research analysts have also commented on ISRG. Evercore ISI decreased their price objective on Intuitive Surgical from $535.00 to $450.00 and set an "in-line" rating on the stock in a research report on Tuesday, October 7th. Piper Sandler reaffirmed an "overweight" rating and issued a $595.00 price objective (up from $575.00) on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Intuitive Surgical in a research report on Friday, August 22nd. Mizuho cut their price objective on Intuitive Surgical from $570.00 to $520.00 and set a "neutral" rating for the company in a research report on Tuesday. Finally, Wall Street Zen upgraded Intuitive Surgical from a "hold" rating to a "buy" rating in a research report on Saturday, October 4th. Fourteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $580.29.

Intuitive Surgical Stock Performance

NASDAQ:ISRG opened at $437.93 on Wednesday. The firm's 50-day moving average is $456.15 and its 200-day moving average is $496.60. Intuitive Surgical has a 52-week low of $425.00 and a 52-week high of $616.00. The company has a market cap of $156.99 billion, a price-to-earnings ratio of 61.04, a PEG ratio of 4.58 and a beta of 1.61.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.26. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the company posted $1.78 EPS. The company's revenue was up 21.4% compared to the same quarter last year. Equities analysts predict that Intuitive Surgical will post 6.43 EPS for the current year.

Insider Activity at Intuitive Surgical

In other news, EVP Myriam Curet sold 4,500 shares of Intuitive Surgical stock in a transaction on Friday, July 25th. The shares were 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 of the company's stock, valued at approximately $173,845.44. The trade was a 92.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Amy L. Ladd sold 335 shares of Intuitive Surgical stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $440.69, for a total value of $147,631.15. Following the sale, the director directly owned 739 shares of the company's stock, valued at approximately $325,669.91. This trade represents a 31.19% decrease in their position. 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. Company insiders own 0.70% of the company's stock.

Hedge Funds Weigh In On Intuitive Surgical

Institutional investors and hedge funds have recently made changes to their positions in the business. Brighton Jones LLC increased its stake in Intuitive Surgical by 24.9% in the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock worth $1,916,000 after purchasing an additional 731 shares during the period. GAMMA Investing LLC lifted its holdings in Intuitive Surgical by 9.3% in the first quarter. GAMMA Investing LLC now owns 6,115 shares of the medical equipment provider's stock worth $3,029,000 after buying an additional 518 shares during the period. Robertson Stephens Wealth Management LLC grew its holdings in shares of Intuitive Surgical by 139.9% during the 1st quarter. Robertson Stephens Wealth Management LLC now owns 2,073 shares of the medical equipment provider's stock worth $1,027,000 after acquiring an additional 1,209 shares during the period. CENTRAL TRUST Co grew its holdings in shares of Intuitive Surgical by 7.1% during the 1st quarter. CENTRAL TRUST Co now owns 2,691 shares of the medical equipment provider's stock worth $1,333,000 after acquiring an additional 179 shares during the period. Finally, Cornerstone Wealth Management LLC raised its position in shares of Intuitive Surgical by 12.9% in the 1st quarter. Cornerstone Wealth Management LLC now owns 621 shares of the medical equipment provider's stock worth $308,000 after acquiring an additional 71 shares in the last quarter. 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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