Zacks Investment Research upgraded shares of Intuitive Surgical (NASDAQ:ISRG) from a hold rating to a buy rating in a research report sent to investors on Wednesday. They currently have $569.00 price target on the medical equipment provider’s stock.
According to Zacks, “Intuitive Surgical outperformed the industry in a year’s time. Strong prospects in the company’s robotic platform – da Vinci System – is a major positive. Notably, 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. On the negative side, 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 the global MedTech space as well as long sale and purchase order cycles of da Vinci unit has been currently plaguing the company.”
Several other analysts also recently weighed in on ISRG. BidaskClub raised shares of Intuitive Surgical from a buy rating to a strong-buy rating in a research report on Thursday, August 16th. Wells Fargo & Co boosted their target price on shares of Intuitive Surgical from $575.00 to $635.00 and gave the stock an outperform rating in a research report on Wednesday, September 12th. Piper Jaffray Companies raised shares of Intuitive Surgical from a neutral rating to an overweight rating and set a $600.00 target price on the stock in a research report on Tuesday, October 9th. Morgan Stanley boosted their target price on shares of Intuitive Surgical from $575.00 to $600.00 and gave the stock an overweight rating in a research report on Thursday, October 11th. Finally, Cantor Fitzgerald reissued a buy rating and set a $620.00 target price on shares of Intuitive Surgical in a research report on Friday, October 19th. Two analysts have rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company. The company currently has an average rating of Buy and an average price target of $553.71.
NASDAQ:ISRG opened at $491.81 on Wednesday. The company has a market cap of $56.16 billion, a price-to-earnings ratio of 68.40, a P/E/G ratio of 3.56 and a beta of 1.03. Intuitive Surgical has a twelve month low of $359.78 and a twelve month high of $581.12.
Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Thursday, October 18th. The medical equipment provider reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.17. The company had revenue of $920.90 million for the quarter, compared to the consensus estimate of $916.22 million. Intuitive Surgical had a net margin of 22.31% and a return on equity of 18.79%. Intuitive Surgical’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.77 EPS. As a group, equities analysts expect that Intuitive Surgical will post 9.52 earnings per share for the current year.
In related news, CEO Gary S. Guthart sold 28,085 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $542.78, for a total value of $15,243,976.30. Following the completion of the transaction, the chief executive officer now directly owns 368,704 shares in the company, valued at approximately $200,125,157.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Amal M. Johnson sold 1,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 9,874 shares of the company’s stock, valued at $4,937,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,491 shares of company stock valued at $37,767,784. Company insiders own 2.20% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of ISRG. Signet Financial Management LLC acquired a new position in Intuitive Surgical during the second quarter worth $115,000. Arrow Financial Corp acquired a new position in Intuitive Surgical during the third quarter worth $115,000. JNBA Financial Advisors acquired a new position in Intuitive Surgical during the third quarter worth $115,000. Pendal Group Ltd acquired a new position in Intuitive Surgical during the third quarter worth $118,000. Finally, Optimum Investment Advisors raised its position in Intuitive Surgical by 189.9% during the third quarter. Optimum Investment Advisors now owns 229 shares of the medical equipment provider’s stock worth $131,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 84.31% of the company’s stock.
Intuitive Surgical Company Profile
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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