Intuitive Surgical (NASDAQ:ISRG) Shares Down 0% – Here’s Why

Intuitive Surgical, Inc. (NASDAQ:ISRG) shares dropped 0% during mid-day trading on Wednesday . The company traded as low as $596.47 and last traded at $600.85. Approximately 217,390 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 1,703,730 shares. The stock had previously closed at $600.89.

Wall Street Analyst Weigh In

Several brokerages recently commented on ISRG. Truist Financial boosted their price target on Intuitive Surgical from $640.00 to $666.00 and gave the company a “buy” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. boosted their target price on shares of Intuitive Surgical from $575.00 to $675.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Royal Bank of Canada increased their target price on shares of Intuitive Surgical from $611.00 to $641.00 in a research report on Monday, January 27th. Bernstein Bank boosted their price target on shares of Intuitive Surgical from $655.00 to $700.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Finally, BTIG Research upped their price objective on shares of Intuitive Surgical from $535.00 to $561.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Intuitive Surgical presently has an average rating of “Moderate Buy” and a consensus price target of $613.10.

Intuitive Surgical Trading Down 2.4 %

The stock has a market cap of $210.78 billion, a price-to-earnings ratio of 92.32, a P/E/G ratio of 5.87 and a beta of 1.39. The company has a 50 day simple moving average of $564.41 and a 200-day simple moving average of $523.46.

Insider Buying and Selling at Intuitive Surgical

In related news, EVP Myriam Curet sold 408 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $589.75, for a total value of $240,618.00. Following the completion of the transaction, the executive vice president now owns 353 shares of the company’s stock, valued at approximately $208,181.75. This trade represents a 53.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Desantis sold 376 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $539.00, for a total transaction of $202,664.00. Following the sale, the executive vice president now directly owns 5,506 shares in the company, valued at $2,967,734. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,348 shares of company stock worth $3,587,582. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Ascent Group LLC boosted its holdings in shares of Intuitive Surgical by 6.7% in the 4th quarter. Ascent Group LLC now owns 5,818 shares of the medical equipment provider’s stock valued at $3,037,000 after buying an additional 367 shares during the last quarter. Putney Financial Group LLC bought a new stake in Intuitive Surgical during the fourth quarter worth $356,000. AlphaCore Capital LLC lifted its stake in Intuitive Surgical by 4.2% in the fourth quarter. AlphaCore Capital LLC now owns 451 shares of the medical equipment provider’s stock valued at $235,000 after acquiring an additional 18 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Intuitive Surgical by 19.0% in the 4th quarter. Mackenzie Financial Corp now owns 339,906 shares of the medical equipment provider’s stock valued at $177,417,000 after acquiring an additional 54,234 shares during the period. Finally, Forum Financial Management LP raised its holdings in shares of Intuitive Surgical by 1.7% in the 4th quarter. Forum Financial Management LP now owns 1,999 shares of the medical equipment provider’s stock valued at $1,043,000 after purchasing an additional 33 shares during the period. 83.64% of the stock is currently owned by institutional investors.

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.