Intuitive Surgical (NASDAQ:ISRG) Reaches New 1-Year Low - Here's What Happened

Key Points

• Intuitive Surgical shares hit a new 52-week low, falling to as low as $415.03 before closing near $417.50, well below the prior close of $436.64.
• Despite the stock drop, analysts remain broadly bullish, with 19 Buy ratings, 7 Hold ratings, and a consensus “Moderate Buy” rating plus an average target price of $576.71.
• The company’s latest earnings beat expectations, reporting $2.50 EPS and $2.77 billion in revenue, both above estimates, with revenue up 23% year over year.

Intuitive Surgical, Inc. (NASDAQ:ISRG - Get Free Report) hit a new 52-week low during trading on Wednesday . The stock traded as low as $415.03 and last traded at $417.4980, with a volume of 1138577 shares. The stock had previously closed at $436.64.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ISRG shares. The Goldman Sachs Group set a $558.00 target price on shares of Intuitive Surgical in a research note on Wednesday. TD Cowen lowered their target price on shares of Intuitive Surgical from $660.00 to $585.00 and set a "buy" rating on the stock in a research note on Wednesday, April 22nd. Robert W. Baird lifted their target price on shares of Intuitive Surgical from $575.00 to $610.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. Citigroup raised shares of Intuitive Surgical from a "neutral" rating to a "buy" rating and set a $590.00 target price on the stock in a research note on Wednesday, March 11th. Finally, Barclays set a $651.00 target price on shares of Intuitive Surgical and gave the stock an "overweight" rating in a research note on Thursday, April 23rd. Nineteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $576.71.

Intuitive Surgical Stock Performance

The firm's 50-day moving average price is $457.08 and its two-hundred day moving average price is $508.88. The stock has a market cap of $148.17 billion, a price-to-earnings ratio of 50.72, a PEG ratio of 3.50 and a beta of 1.51.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.42. The firm had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The company's revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.81 EPS. As a group, sell-side analysts expect that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Gary Loeb sold 400 shares of the business's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $446.95, for a total transaction of $178,780.00. Following the transaction, the executive vice president owned 6,120 shares of the company's stock, valued at approximately $2,735,334. The trade was a 6.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 500 shares of the business's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $473.46, for a total transaction of $236,730.00. Following the transaction, the director directly owned 239 shares in the company, valued at approximately $113,156.94. The trade was a 67.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 5,701 shares of company stock worth $2,783,807. Insiders own 0.60% of the company's stock.

Institutional Trading of Intuitive Surgical

Several institutional investors and hedge funds have recently bought and sold shares of ISRG. Brighton Jones LLC raised its holdings 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 valued at $1,916,000 after buying an additional 731 shares during the period. Sivia Capital Partners LLC raised its holdings in Intuitive Surgical by 3.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider's stock valued at $504,000 after buying an additional 34 shares during the period. Schnieders Capital Management LLC. raised its holdings in Intuitive Surgical by 38.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 973 shares of the medical equipment provider's stock valued at $529,000 after buying an additional 268 shares during the period. Osterweis Capital Management Inc. purchased a new stake in Intuitive Surgical in the 2nd quarter valued at about $200,000. Finally, Main Street Financial Solutions LLC raised its holdings in Intuitive Surgical by 92.4% in the 2nd quarter. Main Street Financial Solutions LLC now owns 2,929 shares of the medical equipment provider's stock valued at $1,592,000 after buying an additional 1,407 shares during the period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

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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