Intuitive Surgical (ISRG) Given New $601.00 Price Target at Citigroup

Intuitive Surgical (NASDAQ:ISRG) had its price objective reduced by Citigroup from $606.00 to $601.00 in a report released on Thursday morning. Citigroup currently has a buy rating on the medical equipment provider’s stock.

ISRG has been the subject of a number of other reports. Zacks Investment Research cut shares of Intuitive Surgical from a buy rating to a hold rating in a research note on Wednesday, November 21st. Piper Jaffray Companies raised shares of Intuitive Surgical from a neutral rating to an overweight rating and set a $600.00 price target for the company in a research note on Tuesday, October 9th. BidaskClub raised shares of Intuitive Surgical from a buy rating to a strong-buy rating in a research note on Thursday, August 16th. Canaccord Genuity raised shares of Intuitive Surgical from a hold rating to a buy rating and lifted their price target 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. Finally, Wells Fargo & Co lifted their price target on shares of Intuitive Surgical from $575.00 to $635.00 and gave the stock an outperform rating in a research note on Wednesday, September 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the stock. Intuitive Surgical presently has an average rating of Buy and an average price target of $552.41.

Shares of NASDAQ:ISRG opened at $530.87 on Thursday. Intuitive Surgical has a 52 week low of $359.75 and a 52 week high of $581.12. The firm has a market capitalization of $60.63 billion, a price-to-earnings ratio of 73.83, a price-to-earnings-growth ratio of 3.84 and a beta of 1.02.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Thursday, October 18th. The medical equipment provider reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.17. Intuitive Surgical had a net margin of 22.31% and a return on equity of 18.79%. The firm had revenue of $920.90 million during the quarter, compared to analysts’ expectations of $916.22 million. During the same period in the previous year, the company earned $2.77 EPS. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intuitive Surgical will post 9.52 earnings per share for the current fiscal year.

In related news, VP Jamie Samath sold 864 shares of Intuitive Surgical stock in a transaction dated Tuesday, October 23rd. The shares were sold at an average price of $499.21, for a total transaction of $431,317.44. Following the completion of the sale, the vice president now owns 257 shares in the company, valued at approximately $128,296.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lonnie M. Smith sold 225 shares of Intuitive Surgical stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $540.04, for a total transaction of $121,509.00. Following the sale, the director now owns 379,175 shares of the company’s stock, valued at approximately $204,769,667. The disclosure for this sale can be found here. Insiders have sold a total of 46,811 shares of company stock valued at $23,867,297 in the last quarter. 2.20% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cornerstone Wealth Management LLC bought a new stake in shares of Intuitive Surgical in the 2nd quarter valued at about $341,000. Acadian Asset Management LLC raised its holdings in shares of Intuitive Surgical by 175.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,250 shares of the medical equipment provider’s stock valued at $598,000 after purchasing an additional 796 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Intuitive Surgical by 42.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 5,821 shares of the medical equipment provider’s stock valued at $2,785,000 after purchasing an additional 1,738 shares in the last quarter. Alps Advisors Inc. bought a new stake in shares of Intuitive Surgical in the 2nd quarter valued at about $572,000. Finally, BB&T Corp raised its holdings in shares of Intuitive Surgical by 6.1% in the 2nd quarter. BB&T Corp now owns 2,441 shares of the medical equipment provider’s stock valued at $1,168,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 83.68% of the company’s stock.

Intuitive Surgical Company Profile

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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