Robert W. Baird Lowers Intuitive Surgical (NASDAQ:ISRG) Price Target to $600.00

Intuitive Surgical (NASDAQ:ISRG) had its price target decreased by Robert W. Baird from $707.00 to $600.00 in a research note released on Tuesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the medical equipment provider’s stock.

Several other analysts have also issued reports on the stock. Royal Bank of Canada raised their price target on shares of Intuitive Surgical from $611.00 to $641.00 in a research report on Monday, January 27th. Piper Sandler restated an “overweight” rating and issued a $670.00 price target (up from $538.00) on shares of Intuitive Surgical in a research report on Friday, January 24th. Evercore ISI lifted their target price on shares of Intuitive Surgical from $490.00 to $530.00 in a research report on Monday, January 27th. Jefferies Financial Group lifted their target price on shares of Intuitive Surgical from $475.00 to $575.00 in a research report on Monday, January 27th. Finally, Truist Financial decreased their target price on shares of Intuitive Surgical from $666.00 to $605.00 and set a “buy” rating on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Intuitive Surgical has an average rating of “Moderate Buy” and an average target price of $611.86.

Intuitive Surgical Price Performance

NASDAQ ISRG opened at $483.95 on Tuesday. The firm has a market capitalization of $172.37 billion, a price-to-earnings ratio of 75.50, a P/E/G ratio of 5.85 and a beta of 1.43. The company’s fifty day moving average is $565.43 and its two-hundred day moving average is $531.90. Intuitive Surgical has a 52-week low of $364.17 and a 52-week high of $616.00.

Insider Activity at Intuitive Surgical

In other news, CFO Jamie Samath sold 94 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $571.11, for a total value of $53,684.34. Following the completion of the transaction, the chief financial officer now owns 2,630 shares in the company, valued at $1,502,019.30. This represents a 3.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert Desantis sold 11,545 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $499.22, for a total transaction of $5,763,494.90. Following the completion of the transaction, the executive vice president now owns 5,224 shares of the company’s stock, valued at $2,607,925.28. This trade represents a 68.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,754 shares of company stock worth $17,691,621. 0.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Howard Capital Management Group LLC boosted its holdings in Intuitive Surgical by 4.5% during the third quarter. Howard Capital Management Group LLC now owns 2,125 shares of the medical equipment provider’s stock worth $1,044,000 after purchasing an additional 92 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Intuitive Surgical by 1.5% during the third quarter. Principal Financial Group Inc. now owns 602,393 shares of the medical equipment provider’s stock worth $295,938,000 after purchasing an additional 9,194 shares during the last quarter. Quest Partners LLC acquired a new position in Intuitive Surgical during the third quarter worth $173,000. MidAtlantic Capital Management Inc. acquired a new position in Intuitive Surgical during the third quarter worth $33,000. Finally, Pathstone Holdings LLC boosted its holdings in Intuitive Surgical by 2.6% during the third quarter. Pathstone Holdings LLC now owns 48,928 shares of the medical equipment provider’s stock worth $24,037,000 after purchasing an additional 1,228 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

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.