Zacks Investment Research cut shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) from a buy rating to a hold rating in a research report sent to investors on Monday morning.
According to Zacks, “Over the last three months, Intuitive Surgical has been consistently trading above the broader industry. The company’s procedure performance in Asia showed continued strength with solid growth in China, Japan and Korea. Intuitive Surgical gained significantly on the CE Mark approval for da Vinci X in Europe. The stock received further boost on the recent FDA approval of the same. A solid outlook for the coming quarters also raises our confidence in the stock. However, the da Vinci Surgical System has a long sale and purchase order cycle which might act against the company. Furthermore, Intuitive Surgical expects sales to decline outside the United States in the coming quarters.Intuitive Surgical looks a little overvalued at the moment. Furthermore, the ongoing political conundrum in the U.S. MedTech space is likely to dampen the company’s top line in the coming quarters.”
ISRG has been the topic of a number of other research reports. Wedbush restated a buy rating on shares of Intuitive Surgical in a research report on Tuesday, October 10th. Barclays PLC restated an overweight rating on shares of Intuitive Surgical in a research report on Friday, October 20th. Morgan Stanley reiterated an overweight rating and set a $118.89 price target (up previously from $105.56) on shares of Intuitive Surgical in a report on Tuesday, July 25th. Vetr upgraded shares of Intuitive Surgical from a hold rating to a buy rating and set a $113.59 price target on the stock in a report on Monday, August 28th. Finally, BidaskClub lowered shares of Intuitive Surgical from a buy rating to a hold rating in a report on Tuesday, August 1st. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $155.78.
Shares of Intuitive Surgical (ISRG) traded down $1.78 during trading on Monday, reaching $392.03. 347,199 shares of the company’s stock were exchanged, compared to its average volume of 968,869. Intuitive Surgical has a 1 year low of $203.57 and a 1 year high of $394.90. The firm has a market capitalization of $43,820.00, a price-to-earnings ratio of 51.57, a P/E/G ratio of 5.41 and a beta of 0.46.
Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Thursday, October 19th. The medical equipment provider reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.78. Intuitive Surgical had a net margin of 30.16% and a return on equity of 18.20%. The firm had revenue of $806.10 million for the quarter, compared to analyst estimates of $753.25 million. During the same quarter last year, the business posted $2.06 earnings per share. The company’s quarterly revenue was up 18.0% on a year-over-year basis. equities research analysts forecast that Intuitive Surgical will post 7.85 earnings per share for the current year.
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In related news, insider Craig H. Barratt sold 15,000 shares of Intuitive Surgical stock in a transaction on Tuesday, October 24th. The shares were 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 $2,783,850. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jamie Samath sold 1,564 shares of Intuitive Surgical stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $371.19, for a total transaction of $580,541.16. The disclosure for this sale can be found here. Insiders have sold 36,656 shares of company stock valued at $15,432,702 in the last three months. 2.20% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Edgewood Management LLC increased its stake in Intuitive Surgical by 200.7% in the third quarter. Edgewood Management LLC now owns 2,898,113 shares of the medical equipment provider’s stock valued at $1,010,359,000 after purchasing an additional 1,934,382 shares in the last quarter. FMR LLC increased its stake in Intuitive Surgical by 19.6% in the second quarter. FMR LLC now owns 2,724,964 shares of the medical equipment provider’s stock valued at $2,548,849,000 after purchasing an additional 447,397 shares in the last quarter. Vanguard Group Inc. increased its stake in Intuitive Surgical by 0.8% in the second quarter. Vanguard Group Inc. now owns 2,524,027 shares of the medical equipment provider’s stock valued at $2,360,900,000 after purchasing an additional 20,210 shares in the last quarter. Koch Industries Inc. increased its stake in Intuitive Surgical by 202,917.0% in the second quarter. Koch Industries Inc. now owns 1,388,636 shares of the medical equipment provider’s stock valued at $1,387,000 after purchasing an additional 1,387,952 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in Intuitive Surgical by 3.3% in the second quarter. Alliancebernstein L.P. now owns 690,780 shares of the medical equipment provider’s stock valued at $646,135,000 after purchasing an additional 21,795 shares in the last quarter. 31.30% of the stock is owned by hedge funds and other institutional investors.
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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