Cantor Fitzgerald Reaffirms Overweight Rating for Intuitive Surgical (ISRG)
Intuitive Surgical (NASDAQ:ISRG)‘s stock had its “overweight” rating restated by equities researchers at Cantor Fitzgerald in a research report issued to clients and investors on Friday. They presently have a $410.00 target price on the medical equipment provider’s stock. Cantor Fitzgerald’s price objective would indicate a potential downside of 1.76% from the stock’s current price.
The analysts wrote, “ISRG announced preliminary 4Q revenue of $892MM (+18%), beating FactSet consensus by $45MM. The beat was driven by 20% y/y growth in system revenue and 18% y/y growth in instrument and accessory revenue.””
Other analysts have also issued reports about the company. Zacks Investment Research raised Intuitive Surgical from a “hold” rating to a “buy” rating and set a $418.00 price objective for the company in a report on Wednesday, October 25th. Wells Fargo & Co reissued a “buy” rating on shares of Intuitive Surgical in a report on Monday, October 16th. Wedbush reissued a “buy” rating on shares of Intuitive Surgical in a report on Tuesday, October 10th. BidaskClub lowered Intuitive Surgical from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 12th. Finally, Goldman Sachs Group reissued a “buy” rating on shares of Intuitive Surgical in a report on Saturday, November 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $349.69.
Shares of Intuitive Surgical (NASDAQ:ISRG) traded up $19.76 during trading on Friday, reaching $417.36. The company had a trading volume of 703,524 shares, compared to its average volume of 934,700. Intuitive Surgical has a twelve month low of $213.91 and a twelve month high of $405.05. The company has a market cap of $47,550.00, a price-to-earnings ratio of 53.92, a price-to-earnings-growth ratio of 5.33 and a beta of 0.47.
Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Thursday, October 19th. The medical equipment provider reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.78. The business 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 firm’s revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.06 EPS. research analysts forecast that Intuitive Surgical will post 7.85 EPS for the current year.
In related news, insider Craig H. Barratt sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $381.00, for a total value of $2,857,500.00. Following the transaction, the insider now owns 7,500 shares in the company, valued at $2,857,500. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Craig H. Barratt sold 15,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 7,500 shares in the company, valued at approximately $2,783,850. The disclosure for this sale can be found here. Insiders sold a total of 55,944 shares of company stock worth $21,432,971 in the last 90 days. Company insiders own 2.20% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Edgewood Management LLC lifted its position in shares of Intuitive Surgical by 200.7% during the third quarter. Edgewood Management LLC now owns 2,898,113 shares of the medical equipment provider’s stock worth $1,010,359,000 after acquiring an additional 1,934,382 shares in the last quarter. FMR LLC lifted its position in shares of Intuitive Surgical by 19.6% during the second quarter. FMR LLC now owns 2,724,964 shares of the medical equipment provider’s stock worth $2,548,849,000 after acquiring an additional 447,397 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Intuitive Surgical by 0.8% during the second quarter. Vanguard Group Inc. now owns 2,524,027 shares of the medical equipment provider’s stock worth $2,360,900,000 after acquiring an additional 20,210 shares in the last quarter. Koch Industries Inc. lifted its position in shares of Intuitive Surgical by 202,917.0% during the second quarter. Koch Industries Inc. now owns 1,388,636 shares of the medical equipment provider’s stock worth $1,387,000 after acquiring an additional 1,387,952 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Intuitive Surgical by 3.3% during the second quarter. Alliancebernstein L.P. now owns 690,780 shares of the medical equipment provider’s stock worth $646,135,000 after acquiring an additional 21,795 shares in the last quarter. Institutional investors and hedge funds own 32.80% 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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