Zacks Investment Research upgraded shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) from a hold rating to a buy rating in a research report sent to investors on Wednesday, October 25th. They currently have $418.00 price target on the medical equipment provider’s stock.
According to Zacks, “Intuitive Surgical exited the third quarter on a solid note, beating the Zacks Consensus Estimate on both the counts. Procedure performance in Asia showed continued strength with growth in China, Japan and Korea. The company 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. Over the last three months, the company has been consistently trading above the broader industry. A solid outlook for the coming quarters also raises our confidence in the stock. Further, incremental spending on product development and higher investments in international markets are likely to drive long-term growth. 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.”
ISRG has been the topic of a number of other reports. Vetr raised shares of Intuitive Surgical from a hold rating to a buy rating and set a $113.37 price target on the stock in a research note on Thursday, August 17th. Wedbush restated a buy rating on shares of Intuitive Surgical in a report on Tuesday, October 10th. Cantor Fitzgerald began coverage on shares of Intuitive Surgical in a report on Thursday, June 29th. They issued a neutral rating and a $111.11 price target on the stock. Morgan Stanley reiterated an overweight rating and issued a $118.89 price target (up previously from $105.56) on shares of Intuitive Surgical in a report on Tuesday, July 25th. Finally, Canaccord Genuity reiterated a hold rating and issued a $111.11 price target (up previously from $96.67) on shares of Intuitive Surgical in a report on Wednesday, July 26th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $154.72.
Shares of Intuitive Surgical (NASDAQ:ISRG) traded down $0.85 during mid-day trading on Wednesday, hitting $389.15. 686,600 shares of the stock traded hands, compared to its average volume of 974,466. The stock has a market capitalization of $43,603.40, a P/E ratio of 51.50, a P/E/G ratio of 5.44 and a beta of 0.47. Intuitive Surgical has a 52 week low of $203.57 and a 52 week high of $393.51.
Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Thursday, October 19th. The medical equipment provider reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.78. The company had revenue of $806.10 million during the quarter, compared to analyst estimates of $753.25 million. Intuitive Surgical had a net margin of 30.16% and a return on equity of 18.20%. Intuitive Surgical’s revenue was up 18.0% compared to the same quarter last year. During the same period last year, the business earned $2.06 earnings per share. analysts forecast that Intuitive Surgical will post 7.85 EPS for the current year.
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In other Intuitive Surgical news, EVP Salvatore Brogna sold 899 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $1,001.90, for a total value of $900,708.10. Following the sale, the executive vice president now owns 570 shares in the company, valued at $571,083. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Marshall Mohr sold 6,000 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $372.22, for a total value of $2,233,320.00. Following the completion of the sale, the chief financial officer now owns 12,316 shares in the company, valued at approximately $4,584,261.52. The disclosure for this sale can be found here. Insiders have sold a total of 36,076 shares of company stock worth $15,208,381 in the last 90 days. 2.20% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. Private Advisor Group LLC boosted its position in Intuitive Surgical by 282.9% during the third quarter. Private Advisor Group LLC now owns 4,981 shares of the medical equipment provider’s stock valued at $1,793,000 after purchasing an additional 3,680 shares in the last quarter. Stifel Financial Corp boosted its holdings in Intuitive Surgical by 47.3% in the third quarter. Stifel Financial Corp now owns 12,308 shares of the medical equipment provider’s stock worth $10,544,000 after acquiring an additional 3,952 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in Intuitive Surgical by 4.9% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 6,458 shares of the medical equipment provider’s stock worth $2,251,000 after acquiring an additional 300 shares in the last quarter. KBC Group NV boosted its holdings in Intuitive Surgical by 9.5% in the third quarter. KBC Group NV now owns 5,818 shares of the medical equipment provider’s stock worth $2,028,000 after acquiring an additional 504 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Intuitive Surgical by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 64,903 shares of the medical equipment provider’s stock worth $67,869,000 after acquiring an additional 276 shares in the last quarter. 31.30% of the stock is currently owned by institutional investors.
Intuitive Surgical Company Profile
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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