Intuitive Surgical (NASDAQ:ISRG) Shares Down 1.2%

Intuitive Surgical, Inc. (NASDAQ:ISRG)’s stock price dropped 1.2% during mid-day trading on Tuesday . The stock traded as low as $485.79 and last traded at $486.60. Approximately 211,410 shares traded hands during trading, a decline of 86% from the average daily volume of 1,513,826 shares. The stock had previously closed at $492.63.

Analysts Set New Price Targets

ISRG has been the subject of several recent analyst reports. Barclays boosted their target price on Intuitive Surgical from $430.00 to $490.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Truist Financial boosted their target price on Intuitive Surgical from $450.00 to $515.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Morgan Stanley boosted their target price on Intuitive Surgical from $375.00 to $460.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Evercore ISI dropped their target price on Intuitive Surgical from $425.00 to $410.00 and set an “in-line” rating for the company in a research report on Friday, July 19th. Finally, Robert W. Baird boosted their target price on Intuitive Surgical from $487.00 to $503.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $446.45.

Intuitive Surgical Price Performance

The business has a fifty day simple moving average of $457.57 and a two-hundred day simple moving average of $416.92. The company has a market cap of $169.08 billion, a PE ratio of 86.28, a price-to-earnings-growth ratio of 5.43 and a beta of 1.39.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Thursday, July 18th. The medical equipment provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.24. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.97 billion. Intuitive Surgical had a return on equity of 13.04% and a net margin of 27.65%. The business’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.18 earnings per share. On average, equities research analysts predict that Intuitive Surgical, Inc. will post 5.22 EPS for the current year.

Insider Transactions at Intuitive Surgical

In other news, EVP Robert Desantis sold 239 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $416.60, for a total transaction of $99,567.40. Following the transaction, the executive vice president now directly owns 5,506 shares of the company’s stock, valued at $2,293,799.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Robert Desantis sold 239 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $416.60, for a total value of $99,567.40. Following the transaction, the executive vice president now directly owns 5,506 shares of the company’s stock, valued at approximately $2,293,799.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Myriam Curet sold 2,818 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $458.13, for a total value of $1,291,010.34. Following the completion of the transaction, the executive vice president now directly owns 298 shares in the company, valued at $136,522.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,656 shares of company stock valued at $24,700,644. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Intuitive Surgical

Several hedge funds have recently made changes to their positions in the company. Creekmur Asset Management LLC grew its position in Intuitive Surgical by 200.0% during the 1st quarter. Creekmur Asset Management LLC now owns 63 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 42 shares during the period. Ridgewood Investments LLC acquired a new stake in Intuitive Surgical during the 2nd quarter worth about $26,000. Able Wealth Management LLC acquired a new stake in Intuitive Surgical during the 4th quarter worth about $28,000. Delos Wealth Advisors LLC grew its position in Intuitive Surgical by 380.0% during the 1st quarter. Delos Wealth Advisors LLC now owns 72 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 57 shares during the period. Finally, LRI Investments LLC acquired a new stake in Intuitive Surgical during the 1st quarter worth about $30,000. 83.64% of the stock is owned by institutional investors and hedge funds.

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.