Erste Group Bank Downgrades Intuitive Surgical (NASDAQ:ISRG) to Hold

Intuitive Surgical (NASDAQ:ISRG) was downgraded by analysts at Erste Group Bank from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Leerink Partners raised their target price on shares of Intuitive Surgical from $490.00 to $548.00 in a report on Monday, January 27th. Truist Financial decreased their target price on shares of Intuitive Surgical from $666.00 to $605.00 and set a “buy” rating for the company in a report on Monday. Jefferies Financial Group raised their price target on shares of Intuitive Surgical from $475.00 to $575.00 in a report on Monday, January 27th. Stifel Nicolaus raised their price target on shares of Intuitive Surgical from $525.00 to $610.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, CICC Research began coverage on shares of Intuitive Surgical in a report on Monday, January 27th. They set a “neutral” rating and a $550.00 price target for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intuitive Surgical has a consensus rating of “Moderate Buy” and an average target price of $611.86.

Intuitive Surgical Price Performance

Shares of ISRG opened at $483.95 on Monday. Intuitive Surgical has a one year low of $364.17 and a one year high of $616.00. The company has a 50-day moving average of $565.43 and a two-hundred day moving average of $531.90. The stock has a market cap of $172.37 billion, a price-to-earnings ratio of 75.50, a PEG ratio of 5.85 and a beta of 1.43.

Insider Activity

In other news, EVP Robert Desantis sold 11,545 shares of Intuitive Surgical stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $499.22, for a total value of $5,763,494.90. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Brian Edward Miller sold 8,900 shares of Intuitive Surgical stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $485.07, for a total transaction of $4,317,123.00. Following the completion of the transaction, the executive vice president now directly owns 5,758 shares in the company, valued at approximately $2,793,033.06. This represents a 60.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,754 shares of company stock valued at $17,691,621 over the last 90 days. 0.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intuitive Surgical

Several hedge funds and other institutional investors have recently modified their holdings of the stock. 111 Capital acquired a new stake in shares of Intuitive Surgical in the fourth quarter worth $1,173,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Intuitive Surgical by 69.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 264,033 shares of the medical equipment provider’s stock worth $137,814,000 after acquiring an additional 108,153 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new stake in Intuitive Surgical during the fourth quarter worth $109,345,000. PKO Investment Management Joint Stock Co acquired a new stake in Intuitive Surgical during the fourth quarter worth $1,566,000. Finally, IronOak Wealth LLC. acquired a new stake in Intuitive Surgical during the fourth quarter worth $1,595,000. 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.