Zacks Investment Research upgraded shares of Intuitive Surgical (NASDAQ:ISRG) from a hold rating to a buy rating in a research note issued to investors on Wednesday, January 3rd. The firm currently has $409.00 price target on the medical equipment provider’s stock.
According to Zacks, “Over the last three months, Intuitive Surgical has been consistently trading above the broader industry. Procedure performance in Asia showed continued strength with solid growth in China, Japan and Korea. Moreover, the company gained significantly on regulatory approvals and favorable study results for da Vinci X robotic platform. A positive outlook for the coming quarters also raises our confidence in the stock. However, unfavorable foreign exchange movements are impacting the company’s results. Intuitive Surgical expects margins to fluctuate based on the company’s mix of new products, mix of systems in instrument and accessory revenue segments, and the reinstatement of the medical device tax in 2018. The company’s da Vinci Surgical System has a long sale and purchase order cycle which might act against the company’s growth.”
Several other research firms have also commented on ISRG. Wedbush reiterated an outperform rating and issued a $353.33 price objective on shares of Intuitive Surgical in a research note on Monday, September 25th. Barclays restated an overweight rating on shares of Intuitive Surgical in a research note on Friday, October 20th. Morgan Stanley restated an overweight rating on shares of Intuitive Surgical in a research note on Tuesday, September 5th. BidaskClub lowered shares of Intuitive Surgical from a strong-buy rating to a buy rating in a research note on Tuesday, December 12th. Finally, Goldman Sachs Group restated a buy rating on shares of Intuitive Surgical in a research note on Saturday, November 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $357.44.
Intuitive Surgical (NASDAQ:ISRG) traded down $2.33 on Wednesday, hitting $419.04. 932,631 shares of the company were exchanged, compared to its average volume of 1,095,444. Intuitive Surgical has a 12 month low of $217.19 and a 12 month high of $426.98. The firm has a market cap of $46,950.00, a price-to-earnings ratio of 54.14, a PEG ratio of 5.33 and a beta of 0.47.
Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Thursday, October 19th. The medical equipment provider reported $2.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.99 by $0.78. The company had revenue of $806.10 million for 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%. The firm’s revenue was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.06 EPS. equities research analysts expect that Intuitive Surgical will post 7.85 EPS for the current year.
In other Intuitive Surgical news, VP Jamie Samath sold 1,564 shares of the firm’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $371.19, for a total value of $580,541.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Craig H. Barratt sold 15,000 shares of the firm’s 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 sale, the insider now owns 7,500 shares in the company, valued at approximately $2,783,850. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,944 shares of company stock valued at $21,432,971. 2.20% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Stifel Financial Corp raised its position in shares of Intuitive Surgical by 11.2% during the 2nd quarter. Stifel Financial Corp now owns 8,356 shares of the medical equipment provider’s stock valued at $7,837,000 after buying an additional 841 shares in the last quarter. First Trust Advisors LP raised its position in shares of Intuitive Surgical by 61.4% during the 3rd quarter. First Trust Advisors LP now owns 51,130 shares of the medical equipment provider’s stock valued at $53,476,000 after buying an additional 19,458 shares in the last quarter. Davis R M Inc. purchased a new stake in shares of Intuitive Surgical during the 3rd quarter valued at $219,000. Point72 Asset Management L.P. purchased a new position in Intuitive Surgical in the 3rd quarter worth $24,264,000. Finally, TIAA CREF Investment Management LLC raised its position in Intuitive Surgical by 9.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 449,917 shares of the medical equipment provider’s stock worth $420,839,000 after purchasing an additional 40,115 shares during the period. Hedge funds and other institutional investors own 32.80% of the company’s stock.
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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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