Zacks Investment Research upgraded shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) from a hold rating to a buy rating in a research note released on Tuesday. Zacks Investment Research currently has $436.00 price objective 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.”
ISRG has been the topic of several other research reports. Vetr lowered Intuitive Surgical from a buy rating to a hold rating and set a $111.83 price target on the stock. in a research note on Wednesday, August 16th. BidaskClub lowered Intuitive Surgical from a buy rating to a hold rating in a research note on Tuesday, August 1st. Barclays PLC lifted their price target on Intuitive Surgical from $96.67 to $111.11 and gave the company an overweight rating in a research note on Friday, July 21st. They noted that the move was a valuation call. J P Morgan Chase & Co reiterated an overweight rating and issued a $116.67 price target on shares of Intuitive Surgical in a research note on Friday, July 21st. Finally, Morgan Stanley reiterated an overweight rating and issued a $118.89 price target (up previously from $105.56) on shares of Intuitive Surgical in a research note on Tuesday, July 25th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Intuitive Surgical currently has a consensus rating of Buy and a consensus target price of $155.78.
Intuitive Surgical (NASDAQ ISRG) traded down $1.32 during trading on Tuesday, reaching $392.48. The company’s stock had a trading volume of 550,083 shares, compared to its average volume of 967,291. Intuitive Surgical has a 12-month low of $203.57 and a 12-month high of $400.00. The company has a market cap of $44,120.00, a price-to-earnings ratio of 51.74, a PEG ratio of 5.43 and a beta of 0.46.
Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings data on Thursday, October 19th. The medical equipment provider reported $2.77 EPS for the quarter, topping the Zacks’ consensus estimate of $1.99 by $0.78. Intuitive Surgical had a return on equity of 18.20% and a net margin of 30.16%. The firm had revenue of $806.10 million for the quarter, compared to analyst estimates of $753.25 million. During the same quarter last year, the company earned $2.06 EPS. The company’s revenue was up 18.0% on a year-over-year basis. equities analysts anticipate that Intuitive Surgical will post 7.85 earnings per share for the current year.
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In other news, EVP Salvatore Brogna sold 899 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $1,001.90, for a total value of $900,708.10. Following the transaction, the executive vice president now directly owns 570 shares of the company’s stock, valued at approximately $571,083. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marshall Mohr sold 6,000 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $372.22, for a total value of $2,233,320.00. Following the completion of the transaction, the chief financial officer now directly owns 12,316 shares in the company, valued at $4,584,261.52. The disclosure for this sale can be found here. Insiders sold a total of 36,656 shares of company stock worth $15,432,702 over the last three months. 2.20% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the company. ETF Managers Group LLC acquired a new position in shares of Intuitive Surgical in the 2nd quarter valued at about $110,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Intuitive Surgical in the 2nd quarter valued at about $120,000. Parallel Advisors LLC lifted its stake in shares of Intuitive Surgical by 3.9% in the 2nd quarter. Parallel Advisors LLC now owns 159 shares of the medical equipment provider’s stock valued at $149,000 after purchasing an additional 6 shares during the period. Lincoln National Corp acquired a new position in shares of Intuitive Surgical in the 3rd quarter valued at about $200,000. Finally, MUFG Americas Holdings Corp acquired a new position in shares of Intuitive Surgical in the 3rd quarter valued at about $208,000. 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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