Intuitive Surgical (ISRG) Price Target Cut to $610.00 by Analysts at Raymond James

Intuitive Surgical (NASDAQ:ISRG) had its price objective cut by Raymond James from $630.00 to $610.00 in a report published on Monday morning, AnalystRatings.com reports. They currently have an outperform rating on the medical equipment provider’s stock.

Several other brokerages have also recently issued reports on ISRG. Canaccord Genuity restated a buy rating and set a $575.00 price objective (down previously from $610.00) on shares of Intuitive Surgical in a research note on Monday. Northland Securities restated a sell rating and set a $375.00 price objective on shares of Intuitive Surgical in a research note on Thursday, January 10th. BidaskClub cut Intuitive Surgical from a strong-buy rating to a buy rating in a research note on Tuesday, April 16th. Piper Jaffray Companies restated an overweight rating and set a $610.00 price objective on shares of Intuitive Surgical in a research note on Thursday, April 18th. Finally, Royal Bank of Canada set a $560.00 price objective on Intuitive Surgical and gave the company a hold rating in a research note on Thursday, February 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $575.94.

NASDAQ:ISRG opened at $491.06 on Monday. Intuitive Surgical has a one year low of $429.04 and a one year high of $589.32. The stock has a market capitalization of $60.92 billion, a P/E ratio of 51.74, a price-to-earnings-growth ratio of 4.15 and a beta of 1.10.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Thursday, April 18th. The medical equipment provider reported $2.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.70 by ($0.09). Intuitive Surgical had a return on equity of 17.85% and a net margin of 29.78%. The business had revenue of $974.00 million during the quarter, compared to analyst estimates of $975.27 million. During the same quarter last year, the firm posted $2.44 EPS. The company’s revenue was up 14.9% compared to the same quarter last year. Analysts forecast that Intuitive Surgical will post 9.9 EPS for the current year.

In other news, VP Jamie Samath sold 458 shares of the company’s stock in a transaction that occurred on Tuesday, January 29th. The stock was sold at an average price of $500.03, for a total transaction of $229,013.74. Following the completion of the transaction, the vice president now directly owns 198 shares of the company’s stock, valued at $99,005.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Salvatore Brogna sold 2,090 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $551.79, for a total value of $1,153,241.10. The disclosure for this sale can be found here. Insiders have sold 42,284 shares of company stock valued at $22,205,382 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund grew its holdings in shares of Intuitive Surgical by 31,963.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,679,377 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 14,633,595 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Intuitive Surgical by 7.3% during the fourth quarter. BlackRock Inc. now owns 8,327,815 shares of the medical equipment provider’s stock valued at $3,988,358,000 after purchasing an additional 569,388 shares during the last quarter. Vanguard Group Inc grew its holdings in shares of Intuitive Surgical by 0.4% during 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. Morgan Stanley grew its holdings in shares of Intuitive Surgical by 119.5% during 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. Finally, Jennison Associates LLC grew its holdings in shares of Intuitive Surgical by 40.5% during the fourth quarter. Jennison Associates LLC now owns 1,949,684 shares of the medical equipment provider’s stock valued at $933,743,000 after purchasing an additional 562,441 shares during the last quarter. 84.91% of the stock is owned by institutional investors.

About Intuitive Surgical

Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. Its da Vinci Surgical System transforms the surgeon's natural hand movements outside the body into corresponding micro-movements inside the patient's body. The company's da Vinci Surgical System include surgeon's consoles, patient-side carts, 3-D vision systems, da Vinci skills simulators, da Vinci Xi integrated table motions, and Firefly fluorescence imaging products that enable surgeons to perform various surgical procedures, including gynecologic, urologic, general, cardiothoracic, and head and neck surgical procedures.

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Analyst Recommendations for Intuitive Surgical (NASDAQ:ISRG)

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