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

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

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Wall Street Zen lowered shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a research note on Sunday. Zacks Research lowered shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. JPMorgan Chase & Co. cut their price target on shares of Intuitive Surgical from $625.00 to $550.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 22nd. Citigroup upgraded shares of Intuitive Surgical from a “neutral” rating to a “buy” rating and set a $590.00 price target on the stock in a research note on Wednesday, March 11th. Finally, Robert W. Baird boosted their price target 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. Nineteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $576.71.

Intuitive Surgical Price Performance

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

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the prior year, the firm earned $1.81 earnings per share. The business’s quarterly revenue was up 23.0% compared to the same quarter last year. On average, equities analysts predict that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

Insider Activity

In related news, EVP Myriam Curet sold 105 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $493.95, for a total transaction of $51,864.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mark Brosius sold 645 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $485.01, for a total transaction of $312,831.45. Following the sale, the senior vice president owned 1,613 shares in the company, valued at $782,321.13. The trade was a 28.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 5,701 shares of company stock valued at $2,783,807. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of Intuitive Surgical

A number of large investors have recently made changes to their positions in ISRG. Norges Bank acquired a new position in Intuitive Surgical in the fourth quarter valued at approximately $2,856,987,000. J. Stern & Co. LLP boosted its holdings in Intuitive Surgical by 18,504.6% in the fourth quarter. J. Stern & Co. LLP now owns 2,127,248 shares of the medical equipment provider’s stock valued at $1,204,788,000 after purchasing an additional 2,115,814 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Intuitive Surgical by 1,043.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,342,121 shares of the medical equipment provider’s stock valued at $760,124,000 after purchasing an additional 1,224,734 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Intuitive Surgical by 95.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider’s stock valued at $970,635,000 after purchasing an additional 1,027,475 shares in the last quarter. Finally, Polen Capital Management LLC acquired a new position in Intuitive Surgical in the fourth quarter valued at approximately $477,225,000. 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.