Intuitive Surgical Inc. (ISRG) Stock Rating Lowered by Zacks Investment Research
Intuitive Surgical Inc. (NASDAQ:ISRG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Intuitive Surgical reported impressive second quarter 2016 results. We believe incremental spending on product development and higher investment on expanding the company’s footprint in international markets (particularly in Europe) are prudent moves that will drive long-term growth. Further, growing adoption of the da Vinci system among physicians for general surgery and thoracic procedures is a key growth catalyst. Moreover, the integrated Table Motion product has gained significant traction within a short span of time, which will boost top-line growth. However, management’s guidance for the second half of the year disappointed us. Gross margin is also forecasted to decline in the back half. Moreover, higher spending on product development can weigh on margin in the near term.”
A number of other analysts have also recently weighed in on the stock. Leerink Swann reissued an “outperform” rating and issued a $780.00 target price on shares of Intuitive Surgical in a research note on Monday. Northland Securities cut shares of Intuitive Surgical from a “market perform” rating to an “under perform” rating and set a $600.00 price objective on the stock. in a research note on Thursday, July 21st. Canaccord Genuity upped their price objective on shares of Intuitive Surgical from $700.00 to $750.00 and gave the stock a “buy” rating in a research note on Wednesday, July 20th. Bank of America Corp. reaffirmed a “buy” rating on shares of Intuitive Surgical in a research note on Wednesday, June 22nd. Finally, Stifel Nicolaus upped their price objective on shares of Intuitive Surgical from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Wednesday, July 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $701.42.
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Intuitive Surgical (NASDAQ:ISRG) traded up 0.77% on Tuesday, reaching $698.88. 199,875 shares of the company’s stock traded hands. Intuitive Surgical has a 52-week low of $447.00 and a 52-week high of $720.01. The firm’s 50 day moving average price is $688.34 and its 200 day moving average price is $647.09. The firm has a market capitalization of $26.90 billion, a PE ratio of 39.66 and a beta of 0.73.
Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Tuesday, July 19th. The company reported $5.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.97 by $0.65. The business had revenue of $670 million for the quarter, compared to analysts’ expectations of $640.69 million. Intuitive Surgical had a net margin of 26.80% and a return on equity of 15.25%. During the same quarter in the previous year, the firm posted $4.57 earnings per share. On average, analysts predict that Intuitive Surgical will post $21.30 EPS for the current fiscal year.
In other news, Director Alan J. Levy sold 3,188 shares of the stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $694.11, for a total transaction of $2,212,822.68. Following the completion of the sale, the director now owns 5,401 shares of the company’s stock, valued at $3,748,888.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mark J. Meltzer sold 3,000 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $688.33, for a total transaction of $2,064,990.00. Following the sale, the senior vice president now directly owns 2,331 shares of the company’s stock, valued at approximately $1,604,497.23. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.
Several large investors have recently modified their holdings of the company. Global X Management Co. LLC bought a new stake in shares of Intuitive Surgical during the second quarter valued at about $118,000. Acrospire Investment Management LLC bought a new stake in shares of Intuitive Surgical during the first quarter valued at about $120,000. Bartlett & Co. LLC increased its stake in shares of Intuitive Surgical by 7.3% in the second quarter. Bartlett & Co. LLC now owns 220 shares of the company’s stock valued at $146,000 after buying an additional 15 shares in the last quarter. Glenmede Trust Co. NA increased its stake in shares of Intuitive Surgical by 3.0% in the second quarter. Glenmede Trust Co. NA now owns 275 shares of the company’s stock valued at $181,000 after buying an additional 8 shares in the last quarter. Finally, IFP Advisors Inc increased its stake in shares of Intuitive Surgical by 3.3% in the first quarter. IFP Advisors Inc now owns 284 shares of the company’s stock valued at $171,000 after buying an additional 9 shares in the last quarter. 92.28% of the stock is owned by institutional investors.
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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