Intuitive Surgical (NASDAQ:ISRG) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday. The brokerage currently has a $437.00 target price on the medical equipment provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 17.76% from the company’s current price.
According to Zacks, “Over the last three months, Intuitive Surgical has been consistently trading above the broader industry. 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. Notably, the company's third quarter earnings and revenues both topped the Zacks Consensus Estimate. “
Several other research analysts have also issued reports on ISRG. Vetr lowered Intuitive Surgical from a “buy” rating to a “hold” rating and set a $335.49 target price for the company. in a research report on Wednesday, August 16th. BidaskClub raised Intuitive Surgical from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Canaccord Genuity reissued a “hold” rating on shares of Intuitive Surgical in a research report on Tuesday, October 17th. Wells Fargo & Company reissued a “buy” rating on shares of Intuitive Surgical in a research report on Monday, October 16th. Finally, Wedbush reissued an “outperform” rating and issued a $353.33 target price on shares of Intuitive Surgical in a research report on Monday, September 25th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $335.32.
Intuitive Surgical (NASDAQ ISRG) traded up $0.59 during midday trading on Tuesday, reaching $371.08. The company’s stock had a trading volume of 1,070,000 shares, compared to its average volume of 975,854. Intuitive Surgical has a 1-year low of $208.24 and a 1-year high of $405.05. The stock has a market cap of $41,512.59, a PE ratio of 49.03, a P/E/G ratio of 5.15 and a beta of 0.48.
Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Thursday, October 19th. The medical equipment provider reported $2.77 earnings per share (EPS) for the quarter, topping the 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 during the quarter, compared to analyst estimates of $753.25 million. During the same quarter in the prior year, the company earned $2.06 EPS. The business’s revenue was up 18.0% compared to the same quarter last year. equities analysts expect that Intuitive Surgical will post 7.85 earnings per share for the current fiscal year.
In other Intuitive Surgical news, VP Jamie Samath sold 1,564 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $371.19, for a total transaction of $580,541.16. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Curet Myriam sold 262 shares of the stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $373.00, for a total value of $97,726.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,944 shares of company stock valued at $21,432,971. 2.20% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Edgewood Management LLC boosted its stake in Intuitive Surgical by 200.7% during the 3rd quarter. Edgewood Management LLC now owns 2,898,113 shares of the medical equipment provider’s stock valued at $1,010,359,000 after purchasing an additional 1,934,382 shares during the last quarter. FMR LLC boosted its stake in shares of Intuitive Surgical by 19.6% in the 2nd quarter. FMR LLC now owns 2,724,964 shares of the medical equipment provider’s stock worth $2,548,849,000 after buying an additional 447,397 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Intuitive Surgical by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 2,524,027 shares of the medical equipment provider’s stock worth $2,360,900,000 after buying an additional 20,210 shares during the last quarter. Koch Industries Inc. boosted its stake in shares of Intuitive Surgical by 202,917.0% in the 2nd quarter. Koch Industries Inc. now owns 1,388,636 shares of the medical equipment provider’s stock worth $1,387,000 after buying an additional 1,387,952 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Intuitive Surgical by 3.3% in the 2nd quarter. Alliancebernstein L.P. now owns 690,780 shares of the medical equipment provider’s stock worth $646,135,000 after buying an additional 21,795 shares during the last quarter. Institutional investors and hedge funds own 32.80% of the company’s stock.
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About Intuitive Surgical
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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