Intuitive Surgical (ISRG) Upgraded by Canaccord Genuity to Buy

Intuitive Surgical (NASDAQ:ISRG) was upgraded by investment analysts at Canaccord Genuity from a “hold” rating to a “buy” rating in a report issued on Friday, The Fly reports. The analysts noted that the move was a valuation call.

A number of other research analysts have also recently issued reports on the stock. 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 report on Tuesday, October 9th. Wells Fargo & Co raised their price target on shares of Intuitive Surgical from $575.00 to $635.00 and gave the stock an “outperform” rating in a report on Wednesday, September 12th. Zacks Investment Research raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating and set a $582.00 price target for the company in a report on Tuesday, July 24th. BidaskClub cut shares of Intuitive Surgical from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $620.00 price target (up previously from $510.00) on shares of Intuitive Surgical in a report on Friday, July 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $539.23.

NASDAQ ISRG opened at $522.29 on Friday. The firm has a market capitalization of $61.75 billion, a price-to-earnings ratio of 72.64, a P/E/G ratio of 3.68 and a beta of 0.89. Intuitive Surgical has a 12-month low of $350.00 and a 12-month high of $581.12.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Thursday, October 18th. The medical equipment provider reported $2.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.66 by $0.17. The business had revenue of $920.90 million during the quarter, compared to analysts’ expectations of $916.22 million. Intuitive Surgical had a net margin of 23.20% and a return on equity of 20.56%. The business’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the company posted $2.77 earnings per share. As a group, sell-side analysts expect that Intuitive Surgical will post 9.31 EPS for the current year.

In other news, Director Lonnie M. Smith sold 56,000 shares of the stock in a transaction on Tuesday, July 24th. The shares were sold at an average price of $523.37, for a total value of $29,308,720.00. Following the sale, the director now owns 11,874 shares in the company, valued at $6,214,495.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gary S. Guthart sold 35,672 shares of the stock in a transaction on Monday, August 6th. The stock was sold at an average price of $520.24, for a total transaction of $18,558,001.28. Following the completion of the sale, the chief executive officer now owns 363,542 shares in the company, valued at approximately $189,129,090.08. The disclosure for this sale can be found here. Insiders sold 109,463 shares of company stock worth $57,194,982 in the last quarter. Company insiders own 2.20% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in ISRG. FMR LLC grew its position in Intuitive Surgical by 19.2% during 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 buying an additional 1,068,107 shares during the period. Morgan Stanley grew its position in Intuitive Surgical by 88.1% during the second quarter. Morgan Stanley now owns 1,301,299 shares of the medical equipment provider’s stock valued at $622,646,000 after buying an additional 609,465 shares during the period. Summit Trail Advisors LLC grew its position in Intuitive Surgical by 49,853.2% during the first quarter. Summit Trail Advisors LLC now owns 215,798 shares of the medical equipment provider’s stock valued at $216,000 after buying an additional 215,366 shares during the period. Cornerstone Wealth Management LLC acquired a new stake in Intuitive Surgical during the second quarter valued at $341,000. Finally, Jennison Associates LLC grew its position in Intuitive Surgical by 5,005.3% during the second quarter. Jennison Associates LLC now owns 158,825 shares of the medical equipment provider’s stock valued at $75,995,000 after buying an additional 155,714 shares during the period. Institutional investors own 84.81% of the company’s stock.

About Intuitive Surgical

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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