Piper Sandler Cuts Intuitive Surgical (NASDAQ:ISRG) Price Target to $575.00

Intuitive Surgical (NASDAQ:ISRG) had its price objective lowered by Piper Sandler from $670.00 to $575.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the medical equipment provider’s stock.

Several other brokerages have also commented on ISRG. Erste Group Bank lowered Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Wells Fargo & Company upped their target price on Intuitive Surgical from $630.00 to $687.00 and gave the company an “overweight” rating in a report on Friday, January 24th. JPMorgan Chase & Co. lifted their price target on Intuitive Surgical from $575.00 to $675.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Evercore ISI lowered their price objective on shares of Intuitive Surgical from $510.00 to $470.00 and set an “in-line” rating on the stock in a research note on Wednesday. Finally, UBS Group upped their price target on shares of Intuitive Surgical from $500.00 to $560.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $598.95.

Intuitive Surgical Price Performance

Intuitive Surgical stock opened at $514.59 on Wednesday. The stock’s 50 day moving average price is $511.92 and its 200 day moving average price is $532.42. The company has a market cap of $183.29 billion, a PE ratio of 80.28, a price-to-earnings-growth ratio of 5.85 and a beta of 1.55. Intuitive Surgical has a 1-year low of $367.39 and a 1-year high of $616.00.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.10. Intuitive Surgical had a net margin of 27.81% and a return on equity of 14.55%. The business had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the prior year, the company posted $1.50 EPS. On average, equities research analysts anticipate that Intuitive Surgical will post 6.43 EPS for the current fiscal year.

Insider Transactions at Intuitive Surgical

In other Intuitive Surgical news, CFO Jamie Samath sold 94 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $571.11, for a total transaction of $53,684.34. Following the transaction, the chief financial officer now owns 2,630 shares of the company’s stock, valued at $1,502,019.30. This trade represents a 3.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Myriam Curet sold 408 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $589.75, for a total transaction of $240,618.00. Following the sale, the executive vice president now directly owns 353 shares of the company’s stock, valued at $208,181.75. This represents a 53.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,454 shares of company stock worth $18,564,027 in the last three months. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Intuitive Surgical

A number of large investors have recently modified their holdings of ISRG. Kampmann Melissa S. increased its position in Intuitive Surgical by 0.9% during the 1st quarter. Kampmann Melissa S. now owns 5,763 shares of the medical equipment provider’s stock worth $2,854,000 after purchasing an additional 50 shares in the last quarter. Mather Group LLC. raised its stake in shares of Intuitive Surgical by 26.2% in the 1st quarter. Mather Group LLC. now owns 2,771 shares of the medical equipment provider’s stock valued at $1,372,000 after acquiring an additional 576 shares during the period. Kieckhefer Group LLC lifted its holdings in shares of Intuitive Surgical by 0.5% during the 1st quarter. Kieckhefer Group LLC now owns 10,840 shares of the medical equipment provider’s stock valued at $5,369,000 after acquiring an additional 50 shares in the last quarter. Alta Advisers Ltd boosted its position in Intuitive Surgical by 42.3% during the 1st quarter. Alta Advisers Ltd now owns 1,681 shares of the medical equipment provider’s stock worth $833,000 after purchasing an additional 500 shares during the period. Finally, Smith Salley Wealth Management increased its holdings in Intuitive Surgical by 485.2% in the 1st quarter. Smith Salley Wealth Management now owns 4,418 shares of the medical equipment provider’s stock valued at $2,188,000 after purchasing an additional 3,663 shares in the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

About Intuitive Surgical

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.