Intuitive Surgical (NASDAQ:ISRG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “Intuitive Surgical 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. On the brighter side, strong prospects in the company’s robotic platform – da Vinci System – is a positive. da Vinci procedures recorded solid growth in recent times. This is led by growth in U.S. general surgery procedures and global urologic procedures. 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. The company outperformed the industry in a year’s time. “
Several other equities analysts have also recently weighed in on the company. Citigroup dropped their price objective on Intuitive Surgical from $606.00 to $601.00 and set a “buy” rating for the company in a report on Thursday, November 29th. UBS Group assumed coverage on Intuitive Surgical in a report on Tuesday, November 27th. They issued a “neutral” rating and a $540.00 price objective for the company. Piper Jaffray Companies lifted their price objective on Intuitive Surgical from $613.00 to $625.00 and gave the company an “overweight” rating in a report on Wednesday, October 31st. BTIG Research reaffirmed a “hold” rating on shares of Intuitive Surgical in a report on Sunday, October 21st. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $560.00 price objective on shares of Intuitive Surgical in a report on Friday, October 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $556.01.
Shares of NASDAQ ISRG opened at $491.69 on Thursday. The firm has a market capitalization of $59.28 billion, a price-to-earnings ratio of 68.39, a P/E/G ratio of 3.76 and a beta of 1.03. Intuitive Surgical has a fifty-two week low of $359.75 and a fifty-two week high of $581.12.
Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Thursday, October 18th. The medical equipment provider reported $2.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.66 by $0.17. The firm had revenue of $920.90 million during the quarter, compared to analysts’ expectations of $916.22 million. Intuitive Surgical had a return on equity of 18.79% and a net margin of 22.31%. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.77 EPS. Equities research analysts anticipate 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 on Tuesday, October 23rd. The stock was sold at an average price of $500.00, for a total value of $500,000.00. Following the transaction, 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 is available at the SEC website. Also, EVP David J. Rosa sold 32,500 shares of Intuitive Surgical stock in a transaction on Tuesday, October 23rd. The shares were sold at an average price of $500.86, for a total value of $16,277,950.00. Following the completion of the transaction, the executive vice president now owns 44,208 shares in the company, valued at approximately $22,142,018.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,491 shares of company stock worth $37,767,784. Corporate insiders own 2.20% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of ISRG. Adviser Investments LLC bought a new stake in Intuitive Surgical during the 2nd quarter worth $115,000. Signet Financial Management LLC bought a new stake in Intuitive Surgical during the 2nd quarter worth $115,000. Arrow Financial Corp bought a new stake in Intuitive Surgical during the 3rd quarter worth $115,000. JNBA Financial Advisors bought a new stake in shares of Intuitive Surgical in the 3rd quarter valued at about $115,000. Finally, Pendal Group Ltd bought a new stake in shares of Intuitive Surgical in the 3rd quarter valued at about $118,000. Institutional investors own 84.31% of the company’s stock.
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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