Intuitive Surgical (ISRG) Upgraded to Buy by 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 released 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.”

ISRG has been the topic of a number of other research reports. Piper Jaffray Companies raised shares of Intuitive Surgical from a neutral rating to an overweight rating and set a $600.00 price objective on the stock in a research report on Tuesday, October 9th. BidaskClub raised shares of Intuitive Surgical from a buy rating to a strong-buy rating in a research report on Thursday, August 16th. Canaccord Genuity raised shares of Intuitive Surgical from a hold rating to a buy rating and boosted their price objective for the stock from $550.00 to $610.00 in a research report on Friday, October 19th. They noted that the move was a valuation call. Wells Fargo & Co boosted their price objective on shares of Intuitive Surgical from $575.00 to $635.00 and gave the stock an outperform rating in a research report on Wednesday, September 12th. Finally, Royal Bank of Canada reissued a hold rating and issued a $560.00 price objective on shares of Intuitive Surgical in a research report on Friday, October 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the stock. Intuitive Surgical currently has an average rating of Buy and an average price target of $556.01.

Shares of ISRG opened at $491.69 on Wednesday. Intuitive Surgical has a twelve month low of $359.75 and a twelve month high of $581.12. The company has a market capitalization of $59.28 billion, a price-to-earnings ratio of 68.39, a P/E/G ratio of 3.76 and a beta of 1.03.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Thursday, October 18th. The medical equipment provider reported $2.83 EPS for the quarter, topping the Zacks’ consensus estimate of $2.66 by $0.17. The business had revenue of $920.90 million for the quarter, compared to analyst estimates of $916.22 million. Intuitive Surgical had a net margin of 22.31% and a return on equity of 18.79%. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.77 earnings per share. On average, equities research analysts expect that Intuitive Surgical will post 9.52 EPS for the current year.

In related news, VP Jamie Samath sold 864 shares of the business’s stock in a transaction on Tuesday, October 23rd. The shares were sold at an average price of $499.21, for a total transaction of $431,317.44. Following the transaction, the vice president now directly owns 257 shares in the company, valued at $128,296.97. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Marshall Mohr sold 7,500 shares of the business’s stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $525.00, for a total transaction of $3,937,500.00. Following the transaction, the vice president now owns 17,321 shares in the company, valued at $9,093,525. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,491 shares of company stock worth $37,767,784. 2.20% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Intuitive Surgical by 0.4% in the third quarter. Vanguard Group Inc. now owns 8,313,421 shares of the medical equipment provider’s stock valued at $4,771,903,000 after purchasing an additional 29,260 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Intuitive Surgical by 2.0% in the third quarter. BlackRock Inc. now owns 7,758,427 shares of the medical equipment provider’s stock valued at $4,453,337,000 after purchasing an additional 149,491 shares during the last quarter. FMR LLC increased its holdings in shares of Intuitive Surgical by 19.2% in the second quarter. FMR LLC now owns 6,629,648 shares of the medical equipment provider’s stock valued at $3,172,155,000 after purchasing an additional 1,068,107 shares during the last quarter. Capital World Investors increased its holdings in shares of Intuitive Surgical by 6.8% in the third quarter. Capital World Investors now owns 2,942,531 shares of the medical equipment provider’s stock valued at $1,689,013,000 after purchasing an additional 188,476 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of Intuitive Surgical by 119.5% in the third quarter. Morgan Stanley now owns 2,856,195 shares of the medical equipment provider’s stock valued at $1,639,456,000 after purchasing an additional 1,554,896 shares during the last quarter. Institutional investors and hedge funds own 84.31% 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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