Intuitive Surgical (ISRG) Stock Price Up -2.4% After Analyst Upgrade

Intuitive Surgical (NASDAQ:ISRG)’s share price rose 2.4% during mid-day trading on Thursday after Bank of America raised their price target on the stock from $465.00 to $510.00. Bank of America currently has a buy rating on the stock. Intuitive Surgical traded as high as $473.79 and last traded at $459.87. Approximately 894,191 shares changed hands during trading, an increase of 3% from the average daily volume of 869,912 shares. The stock had previously closed at $471.03.

ISRG has been the topic of several other research reports. Zacks Investment Research cut shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Vetr lowered shares of Intuitive Surgical from a “strong-buy” rating to a “buy” rating and set a $455.31 price objective on the stock. in a research note on Monday, April 2nd. ValuEngine lowered shares of Intuitive Surgical from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. BidaskClub lowered shares of Intuitive Surgical from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 10th. Finally, Evercore ISI started coverage on shares of Intuitive Surgical in a research note on Wednesday, January 3rd. They set an “in-line” rating and a $380.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $435.32.

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In other news, CFO Marshall Mohr sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $414.19, for a total value of $3,106,425.00. Following the transaction, the chief financial officer now owns 13,816 shares in the company, valued at $5,722,449.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Curet Myriam sold 262 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $431.50, for a total transaction of $113,053.00. Following the completion of the transaction, the executive vice president now owns 2,152 shares in the company, valued at approximately $928,588. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,770 shares of company stock worth $43,410,836. Insiders own 2.20% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC raised its holdings in shares of Intuitive Surgical by 14.9% during the fourth quarter. Flagship Harbor Advisors LLC now owns 889 shares of the medical equipment provider’s stock valued at $352,000 after purchasing an additional 115 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Intuitive Surgical by 44.1% during the third quarter. Janney Montgomery Scott LLC now owns 461 shares of the medical equipment provider’s stock valued at $482,000 after purchasing an additional 141 shares during the last quarter. Spectrum Management Group Inc. raised its holdings in shares of Intuitive Surgical by 154.2% during the fourth 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 last quarter. CWM LLC raised its holdings in shares of Intuitive Surgical by 200.0% during the fourth 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 last quarter. Finally, CIBC World Markets Inc. raised its holdings in shares of Intuitive Surgical by 7.5% during the fourth quarter. CIBC World Markets Inc. now owns 2,734 shares of the medical equipment provider’s stock valued at $998,000 after purchasing an additional 190 shares during the last quarter. 87.89% of the stock is owned by hedge funds and other institutional investors.

The firm has a market cap of $49,232.89, a price-to-earnings ratio of 63.96, a P/E/G ratio of 5.19 and a beta of 0.57.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Tuesday, April 17th. The medical equipment provider reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.37. Intuitive Surgical had a net margin of 23.25% and a return on equity of 21.56%. The firm had revenue of $848.00 million during the quarter, compared to analysts’ expectations of $773.20 million. During the same period in the previous year, the company earned $5.09 earnings per share. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. analysts anticipate that Intuitive Surgical will post 7.85 EPS for the current fiscal year.

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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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