Zacks Investment Research upgraded shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) from a hold rating to a buy rating in a report published on Wednesday, October 25th. They currently have $418.00 price objective on the medical equipment provider’s stock.
According to Zacks, “Intuitive Surgical exited the third quarter on a solid note, beating the Zacks Consensus Estimate on both the counts. Procedure performance in Asia showed continued strength with growth in China, Japan and Korea. The company gained significantly on the CE Mark approval for da Vinci X in Europe. The stock received further boost on the recent FDA approval of the same. Over the last three months, the company has been consistently trading above the broader industry. A solid outlook for the coming quarters also raises our confidence in the stock. Further, incremental spending on product development and higher investments in international markets are likely to drive long-term growth. However, the da Vinci Surgical System has a long sale and purchase order cycle which might act against the company. Furthermore, Intuitive Surgical expects sales to decline outside the United States in the coming quarters.”
A number of other equities analysts have also issued reports on the company. Barclays PLC reissued an overweight rating on shares of Intuitive Surgical in a report on Friday, October 20th. Canaccord Genuity reissued a hold rating on shares of Intuitive Surgical in a report on Tuesday, October 17th. Wells Fargo & Company reissued a buy rating on shares of Intuitive Surgical in a report on Monday, October 16th. Wedbush restated a buy rating on shares of Intuitive Surgical in a research report on Tuesday, October 10th. Finally, Morgan Stanley restated an overweight rating on shares of Intuitive Surgical in a research report on Tuesday, September 5th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Intuitive Surgical currently has a consensus rating of Buy and an average price target of $154.72.
Shares of Intuitive Surgical (ISRG) opened at $389.15 on Wednesday. Intuitive Surgical has a one year low of $203.57 and a one year high of $393.51. The stock has a market capitalization of $43,603.48, a P/E ratio of 51.50, a price-to-earnings-growth ratio of 5.44 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 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.99 by $0.78. The company had revenue of $806.10 million during the quarter, compared to analyst estimates of $753.25 million. Intuitive Surgical had a return on equity of 18.20% and a net margin of 30.16%. The business’s revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.06 earnings per share. research analysts forecast that Intuitive Surgical will post 7.85 earnings per share for the current fiscal year.
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In related news, insider Craig H. Barratt sold 15,000 shares of the stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $371.18, for a total value of $5,567,700.00. Following the completion of the sale, the insider now owns 7,500 shares in the company, valued at $2,783,850. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Mark J. Meltzer sold 500 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $1,025.00, for a total transaction of $512,500.00. Following the transaction, the senior vice president now owns 2,796 shares of the company’s stock, valued at approximately $2,865,900. The disclosure for this sale can be found here. Insiders have sold 36,076 shares of company stock worth $15,208,381 over the last three months. Company insiders own 2.20% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Zeke Capital Advisors LLC lifted its stake in Intuitive Surgical by 114.0% during the third quarter. Zeke Capital Advisors LLC now owns 717 shares of the medical equipment provider’s stock worth $750,000 after purchasing an additional 382 shares during the period. Picton Mahoney Asset Management lifted its stake in Intuitive Surgical by 1.8% during the third quarter. Picton Mahoney Asset Management now owns 23,180 shares of the medical equipment provider’s stock worth $24,245,000 after purchasing an additional 411 shares during the period. Iberiabank Corp bought a new position in Intuitive Surgical during the third quarter worth about $777,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Intuitive Surgical by 10.8% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,032 shares of the medical equipment provider’s stock worth $3,171,000 after purchasing an additional 295 shares during the period. Finally, Virginia Retirement Systems ET AL lifted its stake in Intuitive Surgical by 72.8% during the third quarter. Virginia Retirement Systems ET AL now owns 26,100 shares of the medical equipment provider’s stock worth $27,297,000 after purchasing an additional 11,000 shares during the period. Hedge funds and other institutional investors own 31.43% of the company’s stock.
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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