Truist Financial Cuts Intuitive Surgical (NASDAQ:ISRG) Price Target to $525.00

Key Points

• Truist Financial has reduced its price target for Intuitive Surgical from $600.00 to $525.00 while maintaining a "buy" rating, indicating a potential upside of 20.61% from its previous close.
• The stock is currently down 0.2%, trading at $435.30, with significant insider activity, including a notable sale of 29,360 shares by CEO Gary S. Guthart.
• Fourteen analysts have a "Buy" rating on Intuitive Surgical, with an average consensus price target of $582.14, reflecting mixed outlooks from various research firms.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) had its price objective cut by research analysts at Truist Financial from $600.00 to $525.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the medical equipment provider's stock. Truist Financial's target price suggests a potential upside of 20.61% from the stock's previous close.

A number of other research analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Intuitive Surgical in a research note on Friday, August 22nd. Weiss Ratings reiterated a "hold (c+)" rating on shares of Intuitive Surgical in a research note on Wednesday, October 8th. Erste Group Bank reiterated a "hold" rating on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Royal Bank Of Canada restated an "outperform" rating and issued a $615.00 price target on shares of Intuitive Surgical in a research note on Tuesday, August 19th. Finally, The Goldman Sachs Group dropped their price target on Intuitive Surgical from $621.00 to $567.00 and set a "buy" rating for the company in a research note on Wednesday, October 1st. Fourteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Intuitive Surgical presently has an average rating of "Moderate Buy" and a consensus price target of $582.14.

Intuitive Surgical Stock Down 0.2%

Shares of Intuitive Surgical stock traded down $1.09 during trading hours on Wednesday, reaching $435.30. 466,857 shares of the stock traded hands, compared to its average volume of 2,057,289. The company has a 50 day moving average price of $456.92 and a 200 day moving average price of $497.02. The firm has a market capitalization of $156.05 billion, a price-to-earnings ratio of 60.77, a P/E/G ratio of 4.58 and a beta of 1.61. Intuitive Surgical has a one year low of $425.00 and a one year high of $616.00.

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

Insider Activity

In other news, insider Gary S. Guthart sold 29,360 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the completion of the transaction, the insider directly owned 19,827 shares in the company, valued at approximately $9,368,059.23. This represents a 59.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Myriam Curet sold 4,500 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $492.48, for a total value of $2,216,160.00. Following the transaction, the executive vice president owned 353 shares of the company's stock, valued at $173,845.44. This represents a 92.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,224 shares of company stock worth $21,716,492. 0.70% of the stock is currently owned by insiders.

Institutional Trading of Intuitive Surgical

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Founders Financial Securities LLC raised its holdings in Intuitive Surgical by 20.5% during the 3rd quarter. Founders Financial Securities LLC now owns 2,789 shares of the medical equipment provider's stock valued at $1,247,000 after buying an additional 475 shares during the period. James Hambro & Partners LLP raised its holdings in Intuitive Surgical by 1.2% during the 3rd quarter. James Hambro & Partners LLP now owns 236,545 shares of the medical equipment provider's stock valued at $105,784,000 after buying an additional 2,898 shares during the period. Hanson & Doremus Investment Management raised its holdings in Intuitive Surgical by 46.0% during the 3rd quarter. Hanson & Doremus Investment Management now owns 4,237 shares of the medical equipment provider's stock valued at $1,895,000 after buying an additional 1,335 shares during the period. Swedbank AB raised its holdings in Intuitive Surgical by 38.4% during the 3rd quarter. Swedbank AB now owns 731,221 shares of the medical equipment provider's stock valued at $327,024,000 after buying an additional 202,807 shares during the period. Finally, Optas LLC raised its holdings in Intuitive Surgical by 35.6% during the 3rd quarter. Optas LLC now owns 975 shares of the medical equipment provider's stock valued at $436,000 after buying an additional 256 shares during the period. 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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