Intuitive Surgical, Inc. (ISRG) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) from a hold rating to a buy rating in a report published on Tuesday. The firm currently has $436.00 price target on the medical equipment provider’s stock.
According to Zacks, “Over the last three months, Intuitive Surgical has been consistently trading above the broader industry. Its third quarter earnings and revenues both topped the Zacks Consensus Estimate. The company’s procedure performance in Asia showed continued strength with solid growth in China, Japan and Korea. Intuitive Surgical 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. Also, 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 prudent moves that are likely to drive long-term growth. The company is also expected to enhance its organizational capabilities and gain prominence in the markets of Europe and Asia.”
Several other analysts also recently weighed in on the company. Wedbush restated a buy rating on shares of Intuitive Surgical in a research note on Tuesday, October 10th. Morgan Stanley restated an overweight rating on shares of Intuitive Surgical in a research note on Tuesday, September 5th. Citigroup Inc. restated a buy rating and issued a $119.78 price target (up previously from $101.89) on shares of Intuitive Surgical in a research note on Monday, July 24th. Barclays PLC restated an overweight rating on shares of Intuitive Surgical in a research note on Friday, October 20th. Finally, Vetr downgraded Intuitive Surgical from a buy rating to a hold rating and set a $112.28 price target on the stock. in a research note on Thursday, July 20th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Intuitive Surgical presently has an average rating of Buy and a consensus target price of $155.78.
Intuitive Surgical (ISRG) traded down $1.32 during trading on Tuesday, hitting $392.48. The company had a trading volume of 617,095 shares, compared to its average volume of 967,291. The stock has a market cap of $44,120.00, a P/E ratio of 51.74, a P/E/G ratio of 5.43 and a beta of 0.46. Intuitive Surgical has a 52 week low of $203.57 and a 52 week high of $400.00.
Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Thursday, October 19th. The medical equipment provider reported $2.77 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.78. The company had revenue of $806.10 million for the quarter, compared to the consensus estimate of $753.25 million. Intuitive Surgical had a return on equity of 18.20% and a net margin of 30.16%. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.06 EPS. research analysts forecast that Intuitive Surgical will post 7.85 EPS for the current year.
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In other news, Director Lonnie M. Smith sold 580 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $386.76, for a total transaction of $224,320.80. Following the transaction, the director now directly owns 559,410 shares of the company’s stock, valued at approximately $216,357,411.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Curet Myriam sold 262 shares of the stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $373.00, for a total value of $97,726.00. The disclosure for this sale can be found here. Insiders have sold a total of 36,656 shares of company stock worth $15,432,702 over the last three months. Insiders own 2.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Alps Advisors Inc. raised its holdings in Intuitive Surgical by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 647 shares of the medical equipment provider’s stock worth $605,000 after purchasing an additional 2 shares during the period. Chilton Investment Co. LLC raised its holdings in Intuitive Surgical by 0.4% in the 2nd quarter. Chilton Investment Co. LLC now owns 502 shares of the medical equipment provider’s stock worth $470,000 after purchasing an additional 2 shares during the period. Wilbanks Smith & Thomas Asset Management LLC raised its holdings in Intuitive Surgical by 0.5% in the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 370 shares of the medical equipment provider’s stock worth $346,000 after purchasing an additional 2 shares during the period. Bronfman E.L. Rothschild L.P. raised its holdings in Intuitive Surgical by 1.4% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 284 shares of the medical equipment provider’s stock worth $266,000 after purchasing an additional 4 shares during the period. Finally, Wetherby Asset Management Inc. raised its holdings in Intuitive Surgical by 1.4% in the 2nd quarter. Wetherby Asset Management Inc. now owns 361 shares of the medical equipment provider’s stock worth $338,000 after purchasing an additional 5 shares during the period. 31.30% 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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