Intuitive Surgical Inc. (ISRG) Stock Rating Reaffirmed by JPMorgan Chase & Co.
Intuitive Surgical Inc. (NASDAQ:ISRG)‘s stock had its “buy” rating reissued by JPMorgan Chase & Co. in a research note issued to investors on Tuesday.
The analysts wrote, “Over the weekend, we attended the second annual Global Symposium on Robotic Assisted and Minimally Invasive Hernia Repair, which was a gathering of >250 general surgeons in New York. The meeting was positive for Intuitive Surgical (ISRG), as interest in robotic hernia repair has increased since last year, with a number of presentations highlighting both clinical and cost data, while there was broader acknowledgement that robotics is the future for hernia repair (including by ISRG’s Chief Medical Officer, who not surprisingly, spoke positively about potential future adoption, with potential for it to eventually reach 40-50% penetration). Following the conference, along with our recent physician survey (see note here), we are increasingly confident that hernia is a legitimate opportunity for ISRG, and should continue to be a primary driver of sustainable procedure growth over the near to intermediate term.””
Other analysts have also issued research reports about the company. Piper Jaffray Cos. restated a “neutral” rating and issued a $700.00 price objective (up previously from $610.00) on shares of Intuitive Surgical in a report on Wednesday, July 20th. Bank of America Corp. restated a “buy” rating on shares of Intuitive Surgical in a report on Monday, June 6th. Barclays PLC upped their price objective on Intuitive Surgical from $690.00 to $750.00 and gave the company an “overweight” rating in a report on Wednesday, July 20th. Zacks Investment Research lowered Intuitive Surgical from a “hold” rating to a “sell” rating in a report on Monday, June 27th. Finally, Canaccord Genuity restated a “buy” rating and issued a $700.00 price objective on shares of Intuitive Surgical in a report on Tuesday, June 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $701.42.
Shares of Intuitive Surgical (NASDAQ:ISRG) opened at 703.06 on Tuesday. Intuitive Surgical has a 12-month low of $447.00 and a 12-month high of $720.01. The stock has a market cap of $27.06 billion, a PE ratio of 39.90 and a beta of 0.73. The firm has a 50-day moving average price of $688.84 and a 200 day moving average price of $648.41.
Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Tuesday, July 19th. The company reported $5.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.97 by $0.65. Intuitive Surgical had a return on equity of 15.25% and a net margin of 26.80%. The company earned $670 million during the quarter, compared to analysts’ expectations of $640.69 million. During the same quarter in the prior year, the business posted $4.57 earnings per share. Equities research analysts predict that Intuitive Surgical will post $21.30 EPS for the current fiscal year.
In other Intuitive Surgical news, CEO Gary S. Guthart sold 13,400 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $698.00, for a total value of $9,353,200.00. Following the transaction, the chief executive officer now directly owns 78,780 shares of the company’s stock, valued at approximately $54,988,440. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Marshall Mohr sold 5,000 shares of the company’s stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $684.09, for a total value of $3,420,450.00. Following the completion of the transaction, the chief financial officer now directly owns 6,725 shares in the company, valued at $4,600,505.25. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Forte Capital LLC ADV raised its position in shares of Intuitive Surgical by 0.3% in the first quarter. Forte Capital LLC ADV now owns 1,489 shares of the company’s stock valued at $895,000 after buying an additional 5 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Intuitive Surgical by 0.5% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,198 shares of the company’s stock valued at $792,000 after buying an additional 6 shares during the last quarter. Cleararc Capital Inc. raised its position in shares of Intuitive Surgical by 0.7% in the second quarter. Cleararc Capital Inc. now owns 917 shares of the company’s stock valued at $607,000 after buying an additional 6 shares during the last quarter. Glenmede Trust Co. NA raised its position in shares of Intuitive Surgical by 3.0% in the second quarter. Glenmede Trust Co. NA now owns 275 shares of the company’s stock valued at $181,000 after buying an additional 8 shares during the last quarter. Finally, IFP Advisors Inc raised its position in shares of Intuitive Surgical by 3.3% in the first quarter. IFP Advisors Inc now owns 284 shares of the company’s stock valued at $171,000 after buying an additional 9 shares during the last quarter. 91.90% of the stock is currently owned by institutional investors.
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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