Canaccord Genuity upgraded shares of Intuitive Surgical (NASDAQ:ISRG) from a hold rating to a buy rating in a report published on Friday morning, Marketbeat.com reports. Canaccord Genuity currently has $610.00 target price on the medical equipment provider’s stock, up from their prior target price of $550.00. The analysts noted that the move was a valuation call.

A number of other analysts have also commented on the company. Piper Jaffray Companies raised Intuitive Surgical from a neutral rating to an overweight rating and set a $600.00 price target on the stock in a research note on Tuesday, October 9th. Wells Fargo & Co lifted their price objective on Intuitive Surgical from $575.00 to $635.00 and gave the stock an outperform rating in a research note on Wednesday, September 12th. Zacks Investment Research raised Intuitive Surgical from a hold rating to a buy rating and set a $582.00 price objective on the stock in a research note on Tuesday, July 24th. BidaskClub lowered Intuitive Surgical from a strong-buy rating to a buy rating in a research note on Tuesday, July 31st. Finally, Cantor Fitzgerald reaffirmed a buy rating and issued a $620.00 price objective (up from $510.00) on shares of Intuitive Surgical in a research note on Friday, July 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of $554.01.

Shares of ISRG stock traded down $18.03 during mid-day trading on Friday, reaching $504.26. 2,129,428 shares of the stock traded hands, compared to its average volume of 855,443. Intuitive Surgical has a 1-year low of $356.90 and a 1-year high of $581.12. The firm has a market capitalization of $59.41 billion, a price-to-earnings ratio of 70.13, a PEG ratio of 3.54 and a beta of 0.89.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Thursday, October 18th. The medical equipment provider reported $2.83 EPS for the quarter, beating the Zacks’ consensus estimate of $2.66 by $0.17. Intuitive Surgical had a return on equity of 19.60% and a net margin of 22.31%. The firm had revenue of $920.90 million for the quarter, compared to analyst estimates of $916.22 million. During the same period last year, the firm posted $2.77 earnings per share. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. As a group, analysts forecast that Intuitive Surgical will post 9.31 EPS for the current year.

In other Intuitive Surgical news, EVP Curet Myriam sold 712 shares of Intuitive Surgical stock in a transaction that occurred on Tuesday, July 24th. The stock was sold at an average price of $523.46, for a total value of $372,703.52. Following the completion of the sale, the executive vice president now directly owns 31,141 shares in the company, valued at $16,301,067.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Jamie Samath sold 862 shares of Intuitive Surgical stock in a transaction that occurred on Tuesday, July 24th. The stock was sold at an average price of $523.40, for a total value of $451,170.80. Following the completion of the sale, the vice president now owns 257 shares of the company’s stock, valued at $134,513.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 109,463 shares of company stock valued at $57,194,982. 2.20% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. CENTRAL TRUST Co increased its holdings in shares of Intuitive Surgical by 26.4% during the third quarter. CENTRAL TRUST Co now owns 460 shares of the medical equipment provider’s stock valued at $264,000 after acquiring an additional 96 shares in the last quarter. Wedbush Securities Inc. increased its holdings in shares of Intuitive Surgical by 1.4% during the second quarter. Wedbush Securities Inc. now owns 7,086 shares of the medical equipment provider’s stock valued at $3,391,000 after acquiring an additional 98 shares in the last quarter. Securian Asset Management Inc increased its holdings in shares of Intuitive Surgical by 0.9% during the second quarter. Securian Asset Management Inc now owns 11,795 shares of the medical equipment provider’s stock valued at $5,644,000 after acquiring an additional 100 shares in the last quarter. Sun Life Financial INC increased its holdings in shares of Intuitive Surgical by 59.9% during the second quarter. Sun Life Financial INC now owns 307 shares of the medical equipment provider’s stock valued at $147,000 after acquiring an additional 115 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Intuitive Surgical by 2.8% during the second quarter. Envestnet Asset Management Inc. now owns 4,229 shares of the medical equipment provider’s stock valued at $2,022,000 after acquiring an additional 117 shares in the last quarter. Institutional investors and hedge funds own 84.81% of the company’s stock.

About Intuitive Surgical

Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. The company's da Vinci surgical System translates a surgeon's natural 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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