Intuitive Surgical, Inc. (NASDAQ:ISRG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, May 24th. The brokerage presently has a $999.00 price objective on the medical equipment provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 9.20% from the stock’s current price.
According to Zacks, “Intuitive Surgical reported stellar first-quarter 2017 results, crushing the Zacks Consensus Estimate on both the counts on the growing adoption of the da Vinci system (a surgical platform) among physicians and overall growth in global procedures. The company’s CE Mark approval for da Vinci X in the recent past is a key catalyst. A positive outlook for the coming quarters raises our confidence in the stock. Over the past three months, Intuitive Surgical outperformed the broader industry in terms of price performance. 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. However, the da Vinci Surgical System has a long sale and purchase order cycle which might act against the company.”
A number of other equities analysts have also recently weighed in on ISRG. Canaccord Genuity reaffirmed a “buy” rating on shares of Intuitive Surgical in a report on Wednesday, January 25th. BTIG Research reaffirmed a “hold” rating on shares of Intuitive Surgical in a report on Thursday, April 20th. Stifel Nicolaus upped their price target on Intuitive Surgical from $800.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, April 19th. Evercore ISI upped their price target on Intuitive Surgical from $750.00 to $785.00 and gave the stock an “in-line” rating in a report on Wednesday, April 19th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $675.00 target price on shares of Intuitive Surgical in a report on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $856.69.
Intuitive Surgical (NASDAQ ISRG) traded up 1.77% on Wednesday, hitting $914.84. The stock had a trading volume of 574,934 shares. Intuitive Surgical has a 52-week low of $610.71 and a 52-week high of $937.15. The company has a 50 day moving average price of $883.02 and a 200-day moving average price of $751.79. The company has a market cap of $33.70 billion, a price-to-earnings ratio of 46.12 and a beta of 0.41.
Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Tuesday, April 18th. The medical equipment provider reported $5.09 EPS for the quarter, topping analysts’ consensus estimates of $3.97 by $1.12. Intuitive Surgical had a return on equity of 15.41% and a net margin of 27.99%. The firm had revenue of $674.20 million for the quarter, compared to the consensus estimate of $664.72 million. During the same quarter in the prior year, the business earned $4.42 earnings per share. The company’s revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts predict that Intuitive Surgical will post $23.64 earnings per share for the current year.
In other news, CEO Gary S. Guthart sold 18,775 shares of the firm’s stock in a transaction on Friday, April 21st. The stock was sold at an average price of $810.33, for a total transaction of $15,213,945.75. Following the completion of the transaction, the chief executive officer now directly owns 95,573 shares in the company, valued at $77,445,669.09. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Mark J. Meltzer sold 3,000 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $887.09, for a total value of $2,661,270.00. Following the transaction, the senior vice president now owns 3,046 shares of the company’s stock, valued at $2,702,076.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,306 shares of company stock valued at $46,588,332. Company insiders own 2.50% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Guardian Life Insurance Co. of America boosted its stake in shares of Intuitive Surgical by 2.2% in the first quarter. Guardian Life Insurance Co. of America now owns 142 shares of the medical equipment provider’s stock valued at $109,000 after buying an additional 3 shares during the last quarter. Acropolis Investment Management LLC bought a new stake in shares of Intuitive Surgical during the first quarter valued at about $115,000. Parallel Advisors LLC boosted its stake in shares of Intuitive Surgical by 10.1% in the first quarter. Parallel Advisors LLC now owns 153 shares of the medical equipment provider’s stock valued at $129,000 after buying an additional 14 shares during the last quarter. Huntington National Bank boosted its stake in shares of Intuitive Surgical by 14.1% in the first quarter. Huntington National Bank now owns 170 shares of the medical equipment provider’s stock valued at $130,000 after buying an additional 21 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Intuitive Surgical by 96.0% in the fourth quarter. Bessemer Group Inc. now owns 196 shares of the medical equipment provider’s stock valued at $124,000 after buying an additional 96 shares during the last quarter. Institutional investors and hedge funds own 97.58% of the company’s stock.
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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