Intuitive Surgical (NASDAQ:ISRG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm currently has a $488.00 price target on the medical equipment provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 14.32% from the stock’s current price.
According to Zacks, “Over the last three months, Intuitive Surgical outperformed the broader industry. The company registered solid growth in the Mature and Growth procedures, especially in general and thoracic surgery. The company's procedure performance in Asia showed continued strength with solid growth in China, Japan and Korea. A positive outlook for the coming quarters also raises our confidence. Further, incremental spending on product development and higher investments in international markets are likely to drive long-term growth. However, a surge in operating expenses and the reinstatement of the medical device tax are likely to dampen the company’s bottom line in the days to come. Further, the da Vinci Surgical System has a long sale and purchase order cycle. Added to this, cutthroat competition in the niche space is a concern.”
Several other equities analysts also recently issued reports on ISRG. Vetr raised shares of Intuitive Surgical from a “buy” rating to a “strong-buy” rating and set a $478.64 price target for the company in a report on Monday. Barclays reaffirmed an “overweight” rating and issued a $465.00 price objective on shares of Intuitive Surgical in a report on Thursday, January 11th. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Intuitive Surgical in a report on Friday, January 26th. BidaskClub raised shares of Intuitive Surgical from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 11th. Finally, ValuEngine downgraded shares of Intuitive Surgical from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $415.21.
Intuitive Surgical (ISRG) opened at $426.86 on Tuesday. Intuitive Surgical has a 1-year low of $247.50 and a 1-year high of $452.00. The stock has a market cap of $49,279.24, a price-to-earnings ratio of 75.15, a PEG ratio of 5.19 and a beta of 0.51.
Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Thursday, January 25th. The medical equipment provider reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.27. Intuitive Surgical had a net margin of 21.09% and a return on equity of 19.93%. The company had revenue of $892.40 million during the quarter, compared to the consensus estimate of $866.54 million. During the same quarter in the previous year, the company posted $2.03 earnings per share. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. research analysts anticipate that Intuitive Surgical will post 7.85 earnings per share for the current fiscal year.
In other Intuitive Surgical news, EVP Curet Myriam sold 262 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $431.50, for a total value of $113,053.00. Following the completion of the sale, the executive vice president now directly owns 2,152 shares of the company’s stock, valued at approximately $928,588. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jamie Samath sold 964 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $428.60, for a total transaction of $413,170.40. Following the completion of the sale, the vice president now directly owns 118 shares of the company’s stock, valued at $50,574.80. The disclosure for this sale can be found here. Insiders sold a total of 102,770 shares of company stock valued at $43,410,836 over the last three months. 2.20% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of ISRG. CWM LLC increased its holdings in shares of Intuitive Surgical by 200.0% in the 4th quarter. CWM LLC now owns 285 shares of the medical equipment provider’s stock valued at $104,000 after purchasing an additional 190 shares during the period. American National Bank increased its holdings in shares of Intuitive Surgical by 200.0% in the 4th quarter. American National Bank now owns 300 shares of the medical equipment provider’s stock valued at $109,000 after purchasing an additional 200 shares during the period. Spectrum Management Group Inc. increased its holdings in shares of Intuitive Surgical by 154.2% in the 4th quarter. Spectrum Management Group Inc. now owns 300 shares of the medical equipment provider’s stock valued at $109,000 after purchasing an additional 182 shares during the period. Trustcore Financial Services LLC acquired a new position in shares of Intuitive Surgical in the 4th quarter valued at about $125,000. Finally, Trust Department MB Financial Bank N A increased its holdings in shares of Intuitive Surgical by 200.0% in the 4th quarter. Trust Department MB Financial Bank N A now owns 345 shares of the medical equipment provider’s stock valued at $126,000 after purchasing an additional 230 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.
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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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