Intuitive Surgical (NASDAQ:ISRG)‘s stock had its “overweight” rating restated by investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Friday, January 5th, MarketBeat reports. They currently have a $410.00 target price on the medical equipment provider’s stock. Cantor Fitzgerald’s target price suggests a potential downside of 3.08% from the stock’s previous close.
The analysts wrote, “ISRG announced preliminary 4Q revenue of $892MM (+18%), beating FactSet consensus by $45MM. The beat was driven by 20% y/y growth in system revenue and 18% y/y growth in instrument and accessory revenue.””
Several other analysts also recently issued reports on ISRG. Wedbush reissued an “outperform” rating and issued a $353.33 price objective on shares of Intuitive Surgical in a research note on Monday, September 25th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Intuitive Surgical in a research report on Monday, October 16th. Canaccord Genuity reaffirmed a “hold” rating on shares of Intuitive Surgical in a research report on Tuesday, October 17th. Barclays reaffirmed an “overweight” rating on shares of Intuitive Surgical in a research report on Friday, October 20th. Finally, Zacks Investment Research raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating and set a $418.00 price objective on the stock in a report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Intuitive Surgical currently has a consensus rating of “Buy” and an average target price of $357.44.
Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Thursday, October 19th. The medical equipment provider reported $2.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.99 by $0.78. The business had revenue of $806.10 million during the quarter, compared to the consensus estimate of $753.25 million. Intuitive Surgical had a net margin of 30.16% and a return on equity of 18.20%. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.06 earnings per share. equities research analysts predict that Intuitive Surgical will post 7.93 EPS for the current year.
In other Intuitive Surgical news, CFO Marshall Mohr sold 6,000 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $372.22, for a total value of $2,233,320.00. Following the completion of the transaction, the chief financial officer now owns 12,316 shares in the company, valued at $4,584,261.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Craig H. Barratt sold 15,000 shares of the company’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $371.18, for a total transaction of $5,567,700.00. Following the completion of the transaction, the insider now owns 7,500 shares of the company’s stock, valued at approximately $2,783,850. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,944 shares of company stock valued at $21,432,971. Insiders own 2.20% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Neuberger Berman Group LLC grew its stake in Intuitive Surgical by 112.1% during the 2nd quarter. Neuberger Berman Group LLC now owns 1,336 shares of the medical equipment provider’s stock valued at $1,250,000 after acquiring an additional 706 shares in the last quarter. Schroder Investment Management Group purchased a new stake in Intuitive Surgical during the 2nd quarter valued at about $14,441,000. Private Advisor Group LLC grew its stake in Intuitive Surgical by 1.9% during the 2nd quarter. Private Advisor Group LLC now owns 1,301 shares of the medical equipment provider’s stock valued at $1,232,000 after acquiring an additional 24 shares in the last quarter. Commonwealth Bank of Australia grew its stake in Intuitive Surgical by 614.0% during the 2nd quarter. Commonwealth Bank of Australia now owns 921 shares of the medical equipment provider’s stock valued at $860,000 after acquiring an additional 792 shares in the last quarter. Finally, CIBC World Markets Inc. grew its stake in Intuitive Surgical by 36.9% during the 2nd quarter. CIBC World Markets Inc. now owns 6,541 shares of the medical equipment provider’s stock valued at $6,118,000 after acquiring an additional 1,763 shares in the last quarter. 32.82% of the stock is owned by institutional investors and hedge funds.
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About Intuitive Surgical
Intuitive Surgical, Inc (Intuitive) designs, manufactures and markets da Vinci Surgical Systems, and related instruments and accessories. The Company’s da Vinci Surgical System consists of a surgeon’s console, a patient-side cart and a vision system. The da Vinci Surgical System translates a surgeon’s hand movements, which are performed on instrument controls at a console, into corresponding micro-movements of instruments positioned inside the patient through small incisions or ports.
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