The stock of Intuitive Surgical, Inc. (NASDAQ:ISRG) is now priced at $580.48 and the shares are 4.94 points up or 0.86% higher compared to its previous closing price of $575.54. The stock had 513407 contracts set over the past session. ISRG shares’ daily volume is compared to its average trading volume at 717604 shares. However, it has a float of 115 million and although its performance was 4.57% over the week, it’s one to watch. Analysts have given the ISRG stock a yearly average price target of $556.43 per share. It means the stock’s downside potential is -4.14% with the ISRG share price recently placing at $576.83 to $583.4422. However, some brokerage firms have priced the stock below the average, including one that has called $365.
The shorts are running away from the Intuitive Surgical, Inc. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the ISRG shares have declined. Short interest in the stock represents just 2.13% of its float, but the volume has dropped by -228461. The volume of shorted shares dropped to 2.459 million from 2.687 million shares over the last two weeks. The average intraday trading volume has been 605871 shares, which means that days to cover moved to roughly 4.058032.
In the last trading session, Intuitive Surgical, Inc. (NASDAQ:ISRG) raised by $25.37 over the week and gained $16.23 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $619. The stock recorded its established 52-week high on 02/20/20.
Since 03/23/20, the stock has traded to a low of $360.5 at 61.02%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.92. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Intuitive Surgical, Inc.’s two-week RSI is 57.21. This suggests that the stock is neutral at the moment and that ISRG shares’ price movement remains stable. The stochastic readings are equally revealing at 60.55% meaning the ISRG share price is currently in neutral territory.
The technical chart shows that the ISRG stock will likely settle at between $583.67 and $586.86 per share. However, if the stock dips below $577.06, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $573.64.
Currently, the stock is trading in the green of MACD, with a reading of 6.73. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Piper Sandler cut their recommendation for ISRG from Overweight to Neutral in April 28 review while maintai their target price of $570 to $510. SVB Leerink analysts downgraded their recommendation of the stock from Outperform to Mkt Perform while keeping its target price at $535 in a flash note released to investors on April 17. CFRA seeing the stock struggling downgraded it from Hold to Sell on April 17.
The average rating for the ISRG equity is 2.38 and is currently gathering a bullish momentum. Of 17 analysts tracking Intuitive Surgical, Inc. polled by Reuters, 5 rated ISRG as a hold. The remaining 12 analysts were split evenly. However, the split wasn’t equal as a majority (10) rated it as a buy or strong buy. 2 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the ISRG stock price is 44.24X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 50below the group’s average of 56.9. Intuitive Surgical, Inc. has its P/E ratio at 8, which means that the stock is currently trading at a premium relative to the 5.1 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Intuitive Surgical, Inc. (NASDAQ:ISRG) will decrease by about -39.22%, which will see them reach $668.55 million. The company’s full-year revenues are, however, expected to diminish by about -10.94%, down from $4480 million to $3990 million. ISRG’s expected adjusted earnings should drop almost -77.23% to end up at $0.74 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -31.03% to record $8.8/share.