Wall Street Zen Downgrades Intuitive Surgical (NASDAQ:ISRG) to Hold

Key Points

• Wall Street Zen downgraded Intuitive Surgical from “Buy” to “Hold,” although the broader analyst consensus remains “Moderate Buy,” with 22 Buy, eight Hold and one Sell rating and an average price target of $508.68.
• ISRG shares opened at $394.51, below their 200-day moving average of $441.28, with a 12-month range of $328.57 to $603.88. The company recently beat quarterly estimates, reporting $2.80 in EPS and $2.89 billion in revenue, up 18.4% year over year.
• Company insiders sold 17,106 shares worth approximately $6.95 million over the past 90 days, while institutional investors continue to own a substantial 83.64% of the stock.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

ISRG has been the subject of a number of other research reports. Robert W. Baird lowered their target price on Intuitive Surgical from $525.00 to $500.00 and set an "outperform" rating for the company in a research note on Friday, July 17th. Royal Bank Of Canada reduced their price target on Intuitive Surgical from $650.00 to $600.00 and set an "outperform" rating on the stock in a research report on Monday, July 13th. BNP Paribas Exane upgraded Intuitive Surgical to an "outperform" rating in a report on Tuesday, July 28th. Piper Sandler set a $357.44 price objective on shares of Intuitive Surgical in a research report on Monday, July 27th. Finally, KeyCorp reiterated an "overweight" rating on shares of Intuitive Surgical in a research note on Wednesday. Twenty-two 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $508.68.

Intuitive Surgical Trading Down 1.7%

NASDAQ:ISRG opened at $394.51 on Friday. The firm's fifty day simple moving average is $391.45 and its 200 day simple moving average is $441.28. Intuitive Surgical has a twelve month low of $328.57 and a twelve month high of $603.88. The firm has a market capitalization of $139.37 billion, a price-to-earnings ratio of 45.19, a PEG ratio of 2.90 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings data on Thursday, July 16th. The medical equipment provider reported $2.80 EPS for the quarter, beating the consensus estimate of $2.48 by $0.32. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.83 billion. Intuitive Surgical had a return on equity of 16.91% and a net margin of 28.45%.The firm's revenue was up 18.4% compared to the same quarter last year. During the same period last year, the company posted $1.81 earnings per share. On average, analysts predict that Intuitive Surgical will post 8.87 earnings per share for the current year.

Insiders Place Their Bets

In other Intuitive Surgical news, SVP Iman Jeddi sold 5,625 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the completion of the sale, the senior vice president owned 6,463 shares in the company, valued at $2,718,014.65. This trade represents a 46.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $379.00, for a total value of $151,600.00. Following the sale, the executive vice president owned 5,320 shares in the company, valued at $2,016,280. This represents a 6.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 17,106 shares of company stock worth $6,949,518. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Intuitive Surgical

Hedge funds and other institutional investors have recently modified their holdings of the stock. Main Street Group LTD bought a new stake in Intuitive Surgical in the first quarter valued at about $30,000. Compass Financial Management LLC bought a new position in Intuitive Surgical during the 2nd quarter worth approximately $30,000. Laurel Wealth Advisors LLC bought a new position in Intuitive Surgical during the 4th quarter worth approximately $31,000. Vermillion Wealth Management Inc. grew its position in shares of Intuitive Surgical by 58.1% in the 1st quarter. Vermillion Wealth Management Inc. now owns 68 shares of the medical equipment provider's stock worth $31,000 after acquiring an additional 25 shares in the last quarter. Finally, Turning Point Benefit Group Inc. grew its position in shares of 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 worth $32,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 83.64% of the company's stock.

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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