Intuitive Surgical Inc. (ISRG) Sees Large Volume Increase
Intuitive Surgical Inc. (NASDAQ:ISRG) saw unusually-high trading volume on Monday . Approximately 178,561 shares changed hands during mid-day trading, a decline of 6% from the previous session’s volume of 189,635 shares.The stock last traded at $685.66 and had previously closed at $685.29.
ISRG has been the subject of several recent analyst reports. Northland Securities cut Intuitive Surgical from a “market perform” rating to an “under perform” rating and set a $600.00 price target for the company. in a research note on Thursday, July 21st. Canaccord Genuity boosted their price target on Intuitive Surgical from $700.00 to $750.00 and gave the stock a “buy” rating in a research note on Wednesday, July 20th. Bank of America Corp. restated a “buy” rating on shares of Intuitive Surgical in a research note on Wednesday, June 22nd. Stifel Nicolaus boosted their price target on Intuitive Surgical from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Wednesday, July 20th. Finally, Wedbush boosted their price target on Intuitive Surgical from $715.00 to $755.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $698.58.
The firm has a market capitalization of $26.47 billion and a PE ratio of 39.02. The firm has a 50-day moving average price of $687.00 and a 200-day moving average price of $633.79.
Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Tuesday, July 19th. The company reported $5.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.97 by $0.65. During the same quarter in the prior year, the firm earned $4.57 earnings per share. The company had revenue of $670 million for the quarter, compared to analyst estimates of $640.69 million. On average, equities research analysts forecast that Intuitive Surgical Inc. will post $21.30 EPS for the current year.
In other news, SVP Mark J. Meltzer sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $688.33, for a total transaction of $2,064,990.00. Following the transaction, the senior vice president now directly owns 2,331 shares in the company, valued at approximately $1,604,497.23. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Salvatore Brogna sold 600 shares of the business’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $630.96, for a total value of $378,576.00. Following the transaction, the executive vice president now owns 421 shares in the company, valued at $265,634.16. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently modified their holdings of ISRG. KBC Group NV boosted its position in shares of Intuitive Surgical by 21.6% in the fourth quarter. KBC Group NV now owns 2,782 shares of the company’s stock valued at $1,520,000 after buying an additional 494 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Intuitive Surgical by 38.9% in the fourth quarter. Victory Capital Management Inc. now owns 1,920 shares of the company’s stock valued at $1,049,000 after buying an additional 538 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Intuitive Surgical during the fourth quarter valued at $1,202,000. Finally, I.G. Investment Management LTD. bought a new position in shares of Intuitive Surgical during the fourth quarter valued at $2,871,000.
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.