Intuitive Surgical (NASDAQ:ISRG) Price Target Lowered to $575.00 at Robert W. Baird

Key Points

• Robert W. Baird cut its price target on Intuitive Surgical to $575 from $645 while keeping an outperform rating, a level that implies roughly a 21.8% upside from the prior close.
• Intuitive reported a strong quarter—EPS $2.53 vs. $2.27 expected and revenue $2.87B (+18.8% YoY)—and the stock carries a consensus "Moderate Buy" with an average target of $598.36 despite varied analyst revisions.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) had its price target dropped by stock analysts at Robert W. Baird from $645.00 to $575.00 in a report released on Wednesday,MarketScreener reports. The brokerage currently has an "outperform" rating on the medical equipment provider's stock. Robert W. Baird's price objective indicates a potential upside of 21.76% from the company's previous close.

ISRG has been the topic of several other research reports. Sanford C. Bernstein boosted their price target on shares of Intuitive Surgical from $740.00 to $750.00 and gave the company an "outperform" rating in a report on Friday, January 23rd. Truist Financial boosted their price target on shares of Intuitive Surgical from $620.00 to $650.00 and gave the company a "buy" rating in a report on Thursday, December 18th. Evercore lowered their price target on shares of Intuitive Surgical from $550.00 to $480.00 and set a "neutral" rating on the stock in a report on Monday, April 6th. Mizuho set a $525.00 price target on shares of Intuitive Surgical and gave the company a "neutral" rating in a report on Monday. Finally, UBS Group lowered their price target on shares of Intuitive Surgical from $570.00 to $550.00 and set a "neutral" rating on the stock in a report on Tuesday, March 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned 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 $598.36.

Intuitive Surgical Price Performance

Shares of Intuitive Surgical stock opened at $472.26 on Wednesday. The firm has a market capitalization 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. The company's fifty day moving average price is $480.16 and its two-hundred day moving average price is $514.98. Intuitive Surgical has a 52-week low of $427.84 and a 52-week high of $603.88.

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

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, EVP Myriam Curet sold 105 shares of the firm's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $493.95, for a total value of $51,864.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mark Brosius sold 645 shares of the firm's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $485.01, for a total transaction of $312,831.45. Following the completion of the sale, the senior vice president owned 1,613 shares of the company's stock, valued at $782,321.13. The trade was a 28.57% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 32,943 shares of company stock worth $17,279,568. 0.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Holos Integrated Wealth LLC acquired a new position in Intuitive Surgical during the 4th quarter valued at about $25,000. Newbridge Financial Services Group Inc. lifted its position in Intuitive Surgical by 300.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 33 shares during the period. Greykasell Wealth Strategies Inc. acquired a new position in Intuitive Surgical during the 3rd quarter valued at about $27,000. Olistico Wealth LLC acquired a new position in Intuitive Surgical during the 4th quarter valued at about $28,000. Finally, Caitlin John LLC bought a new position in shares of Intuitive Surgical in the 3rd quarter worth $30,000. 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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