Intuitive Surgical (NASDAQ:ISRG) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Intuitive Surgical (NASDAQ:ISRG) from a hold rating to a buy rating in a report published on Saturday,Wall Street Zen reports.

A number of other analysts also recently issued reports on the stock. Citigroup cut their price objective on shares of Intuitive Surgical from $590.00 to $500.00 and set a “buy” rating for the company in a report on Friday, July 17th. Royal Bank Of Canada cut their price target on Intuitive Surgical from $650.00 to $600.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. The Goldman Sachs Group set a $558.00 price target on Intuitive Surgical in a research report on Wednesday, May 27th. Evercore set a $430.00 price objective on Intuitive Surgical in a research note on Monday, July 6th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating for the company in a report on Tuesday, June 2nd. Twenty-two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $508.68.

Intuitive Surgical Price Performance

ISRG stock opened at $369.15 on Friday. The stock has a market capitalization of $130.41 billion, a price-to-earnings ratio of 42.29, a PEG ratio of 2.79 and a beta of 1.47. The business’s fifty day moving average price is $376.27 and its two-hundred day moving average price is $423.82. Intuitive Surgical has a fifty-two week low of $328.57 and a fifty-two week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.32. Intuitive Surgical had a net margin of 28.45% and a return on equity of 16.91%. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.83 billion. During the same quarter in the previous year, the business posted $1.81 earnings per share. Intuitive Surgical’s quarterly revenue was up 18.4% on a year-over-year basis. Research analysts expect that Intuitive Surgical will post 8.87 EPS for the current year.

Insider Activity

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $379.00, for a total value of $151,600.00. Following the sale, the executive vice president owned 5,320 shares of the company’s stock, valued at approximately $2,016,280. This trade represents a 6.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Brosius sold 77 shares of Intuitive Surgical stock in a transaction on Friday, August 21st. The shares were sold at an average price of $375.57, for a total value of $28,918.89. Following the completion of the transaction, the executive vice president owned 881 shares in the company, valued at approximately $330,877.17. The trade was a 8.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 11,281 shares of company stock valued at $4,484,224. 0.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ISRG. Prosperity Consulting Group LLC grew its holdings in shares of Intuitive Surgical by 0.5% during the third quarter. Prosperity Consulting Group LLC now owns 4,033 shares of the medical equipment provider’s stock worth $1,804,000 after buying an additional 19 shares during the last quarter. Dana Investment Advisors Inc. increased its position in Intuitive Surgical by 1.9% during the 4th quarter. Dana Investment Advisors Inc. now owns 1,140 shares of the medical equipment provider’s stock worth $646,000 after purchasing an additional 21 shares during the period. Forefront Wealth Partners LLC increased its position in Intuitive Surgical by 2.6% during the 4th quarter. Forefront Wealth Partners LLC now owns 819 shares of the medical equipment provider’s stock worth $464,000 after purchasing an additional 21 shares during the period. High Note Wealth LLC grew its holdings in Intuitive Surgical by 50.0% during the fourth quarter. High Note Wealth LLC now owns 69 shares of the medical equipment provider’s stock worth $39,000 after acquiring an additional 23 shares during the period. Finally, White Lighthouse Investment Management Inc. lifted its holdings in Intuitive Surgical by 5.1% in the fourth quarter. White Lighthouse Investment Management Inc. now owns 473 shares of the medical equipment provider’s stock valued at $268,000 after acquiring an additional 23 shares during the period. Institutional investors own 83.64% of the company’s stock.

About Intuitive Surgical

Intuitive Surgical, Inc is a medical technology company that develops and manufactures robotic-assisted surgical systems and related products. Its technology is designed to support surgeons during minimally invasive procedures by providing enhanced visualization, instrument control and dexterity.

The company’s principal product is the da Vinci Surgical System, which is used across a range of specialties, including general surgery, urology, gynecology, cardiothoracic surgery and other procedures.