Intuitive Surgical Stock Rating Reaffirmed by Zacks (ISRG)
Intuitive Surgical (NASDAQ:ISRG)‘s stock had its “neutral” rating restated by Zacks in a research report issued to clients and investors on Thursday, Analyst Ratings News reports. They currently have a $393.00 target price on the stock. Zacks‘s price target would suggest a potential upside of 5.84% from the company’s current price.
Zacks’ analyst wrote, “Intuitive Surgical’s 2014-first quarter earnings per share fell 41.4% to $2.67 lagging the Zacks Consensus Estimate by a wide margin of $0.67. Revenues dipped 24.0% to $464.7 million, also missing the Zacks Consensus Estimate of $512 million. The decrease was due to lower procedure volumes and changing capital spending priorities in hospitals due to the implementation of the Affordable Care Act. But overall, a reasonable valuation is valid, given positive factors such as the company’s leading position in robotic surgery, a growing list of emerging procedures, barriers to entry, sizeable cash and no debt. As a result, we maintain our Neutral recommendation and set a target price of $393.00.”
Shares of Intuitive Surgical (NASDAQ:ISRG) traded down 0.70% during mid-day trading on Thursday, hitting $371.32. 511,596 shares of the company’s stock traded hands. Intuitive Surgical has a one year low of $351.14 and a one year high of $541.23. The stock has a 50-day moving average of $440. and a 200-day moving average of $407.7. The company has a market cap of $14.174 billion and a P/E ratio of 22.35.
Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Tuesday, April 22nd. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.31 by $2.18. The company had revenue of $464.70 million for the quarter, compared to the consensus estimate of $507.04 million. During the same quarter in the previous year, the company posted $4.56 earnings per share. The company’s revenue for the quarter was down 24.0% on a year-over-year basis. On average, analysts predict that Intuitive Surgical will post $13.47 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Intuitive Surgical in a research note on Wednesday. They now have a $500.00 price target on the stock. Separately, analysts at Barrington Research reiterated an “outperform” rating on shares of Intuitive Surgical in a research note on Wednesday. Finally, analysts at WallachBeth Capital cut their price target on shares of Intuitive Surgical from $525.00 to $470.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Five analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $475.50.
Intuitive Surgical, Inc (NASDAQ:ISRG) designs, manufactures and markets da Vinci Surgical Systems and related instruments and accessories.
To view Zacks’ full report, visit Zacks’ official website.
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