Zacks Investment Research upgraded shares of Intuitive Surgical (NASDAQ:ISRG) from a hold rating to a buy rating in a research note released on Wednesday. Zacks Investment Research currently has $615.00 target price on the medical equipment provider’s stock.
According to Zacks, “Intuitive Surgical outperformed the industry in a year’s time. The company’s robotic platform – da Vinci procedures –recorded solid growth in recent times. Higher worldwide da Vinci procedures led by growth in U.S. general surgery procedures and global urologic procedures is a positive. A regulatory approval for the Sure Form 60 buoys optimism. Earlier this year, the company submitted a premarket notification to the FDA for the Ion endoluminal system. Management is also optimistic about the company’s collaboration with InTouch Health. On the flipside, the company expects outside U.S. sales to be a bit lumpy in the quarters ahead. These markets are in early stages of adoption. Intense competition in niche space as well as long sale and purchase order cycles of da Vinci unit has been currently plaguing the company.”
ISRG has been the subject of several other reports. Piper Jaffray Companies raised shares of Intuitive Surgical from a neutral rating to an overweight rating and set a $600.00 price target for the company in a report on Tuesday, October 9th. Morgan Stanley raised their price objective on shares of Intuitive Surgical from $575.00 to $600.00 and gave the company an overweight rating in a research report on Thursday, October 11th. Wells Fargo & Co raised their price objective on shares of Intuitive Surgical from $575.00 to $635.00 and gave the company an outperform rating in a research report on Wednesday, September 12th. UBS Group assumed coverage on shares of Intuitive Surgical in a research report on Tuesday, November 27th. They issued a neutral rating and a $540.00 price objective for the company. Finally, BTIG Research restated a hold rating on shares of Intuitive Surgical in a research report on Sunday, October 21st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the company. The company has a consensus rating of Buy and an average target price of $556.01.
Shares of ISRG stock opened at $491.69 on Wednesday. Intuitive Surgical has a 12-month low of $359.75 and a 12-month high of $581.12. The stock has a market cap of $59.28 billion, a P/E ratio of 68.39, a PEG ratio of 3.76 and a beta of 1.03.
Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Thursday, October 18th. The medical equipment provider reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.17. Intuitive Surgical had a net margin of 22.31% and a return on equity of 18.79%. The firm had revenue of $920.90 million during the quarter, compared to the consensus estimate of $916.22 million. During the same period last year, the firm posted $2.77 EPS. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. On average, equities analysts predict that Intuitive Surgical will post 9.52 earnings per share for the current fiscal year.
In other news, Director Amal M. Johnson sold 1,000 shares of Intuitive Surgical stock in a transaction that occurred on Tuesday, October 23rd. The shares were sold at an average price of $500.00, for a total transaction of $500,000.00. Following the completion of the sale, the director now owns 9,874 shares in the company, valued at approximately $4,937,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP David J. Rosa sold 32,500 shares of Intuitive Surgical stock in a transaction that occurred on Tuesday, October 23rd. The stock was sold at an average price of $500.86, for a total transaction of $16,277,950.00. Following the sale, the executive vice president now owns 44,208 shares of the company’s stock, valued at approximately $22,142,018.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,491 shares of company stock valued at $37,767,784. 2.20% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Adviser Investments LLC bought a new position in Intuitive Surgical during the 2nd quarter worth approximately $115,000. Signet Financial Management LLC bought a new position in Intuitive Surgical during the 2nd quarter worth approximately $115,000. Arrow Financial Corp bought a new position in Intuitive Surgical during the 3rd quarter worth approximately $115,000. JNBA Financial Advisors bought a new position in Intuitive Surgical during the 3rd quarter worth approximately $115,000. Finally, Pendal Group Ltd bought a new position in Intuitive Surgical during the 3rd quarter worth approximately $118,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.
About Intuitive Surgical
Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. The company's da Vinci surgical System translates a surgeon's natural 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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