Intuitive Surgical (ISRG) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Intuitive Surgical (NASDAQ:ISRG) from a hold rating to a buy rating in a research note published on Wednesday morning. They currently have $615.00 target price on the medical equipment provider’s stock.
According to Zacks, “Intuitive Surgical outperformed the industry in a year’s time. The company’s robotic platform – da Vinci procedures –recorded solid growth in recent times. Higher worldwide da Vinci procedures led by growth in U.S. general surgery procedures and global urologic procedures is a positive. A regulatory approval for the Sure Form 60 buoys optimism. Earlier this year, the company submitted a premarket notification to the FDA for the Ion endoluminal system. Management is also optimistic about the company’s collaboration with InTouch Health. On the flipside, the company expects outside U.S. sales to be a bit lumpy in the quarters ahead. These markets are in early stages of adoption. Intense competition in niche space as well as long sale and purchase order cycles of da Vinci unit has been currently plaguing the company.”
Several other research analysts have also recently commented on ISRG. Citigroup lowered their target price on Intuitive Surgical from $606.00 to $601.00 and set a buy rating for the company in a research note on Thursday, November 29th. UBS Group began coverage on Intuitive Surgical in a research note on Tuesday, November 27th. They set a neutral rating and a $540.00 target price for the company. BTIG Research reissued a hold rating on shares of Intuitive Surgical in a research note on Sunday, October 21st. BidaskClub raised Intuitive Surgical from a buy rating to a strong-buy rating in a research note on Thursday, August 16th. Finally, Canaccord Genuity raised Intuitive Surgical from a hold rating to a buy rating and boosted their target price for the stock from $550.00 to $610.00 in a research note on Friday, October 19th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the stock. Intuitive Surgical has an average rating of Buy and an average target price of $556.01.
Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings data on Thursday, October 18th. The medical equipment provider reported $2.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.66 by $0.17. The firm had revenue of $920.90 million for the quarter, compared to the consensus estimate of $916.22 million. Intuitive Surgical had a return on equity of 18.79% and a net margin of 22.31%. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.77 EPS. Sell-side analysts expect that Intuitive Surgical will post 9.52 EPS for the current fiscal year.
In other news, Director Amal M. Johnson sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 23rd. The stock was sold at an average price of $500.00, for a total transaction of $500,000.00. Following the completion of the transaction, the director now directly owns 9,874 shares of the company’s stock, valued at approximately $4,937,000. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Jamie Samath sold 864 shares of the company’s stock in a transaction dated Tuesday, October 23rd. The stock was sold at an average price of $499.21, for a total value of $431,317.44. Following the transaction, the vice president now directly owns 257 shares of the company’s stock, valued at $128,296.97. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,561 shares of company stock valued at $38,888,606. Insiders own 2.20% of the company’s stock.
Several large investors have recently added to or reduced their stakes in ISRG. Adviser Investments LLC acquired a new position in shares of Intuitive Surgical during the 2nd quarter worth about $115,000. Signet Financial Management LLC purchased a new stake in shares of Intuitive Surgical in the 2nd quarter valued at about $115,000. Arrow Financial Corp purchased a new stake in shares of Intuitive Surgical in the 3rd quarter valued at about $115,000. JNBA Financial Advisors purchased a new stake in shares of Intuitive Surgical in the 3rd quarter valued at about $115,000. Finally, Pendal Group Ltd purchased a new stake in shares of Intuitive Surgical in the 3rd quarter valued at about $118,000. 84.31% of the stock is owned by institutional investors and hedge funds.
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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