Intuitive Surgical’s (ISRG) Buy Rating Reaffirmed at JPMorgan Chase & Co.
Intuitive Surgical Inc. (NASDAQ:ISRG)‘s stock had its “buy” rating restated by stock analysts at JPMorgan Chase & Co. in a research report issued on Tuesday.
The analysts wrote, “Over the weekend, we attended the second annual Global Symposium on Robotic Assisted and Minimally Invasive Hernia Repair, which was a gathering of >250 general surgeons in New York. The meeting was positive for Intuitive Surgical (ISRG), as interest in robotic hernia repair has increased since last year, with a number of presentations highlighting both clinical and cost data, while there was broader acknowledgement that robotics is the future for hernia repair (including by ISRG’s Chief Medical Officer, who not surprisingly, spoke positively about potential future adoption, with potential for it to eventually reach 40-50% penetration). Following the conference, along with our recent physician survey (see note here), we are increasingly confident that hernia is a legitimate opportunity for ISRG, and should continue to be a primary driver of sustainable procedure growth over the near to intermediate term.””
Several other research analysts have also recently issued reports on ISRG. Goldman Sachs Group Inc. cut Intuitive Surgical from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $633.00 to $674.00 in a research note on Thursday, June 2nd. They noted that the move was a valuation call. Citigroup Inc. restated a “buy” rating on shares of Intuitive Surgical in a research note on Thursday, June 2nd. Canaccord Genuity reiterated a “buy” rating and set a $700.00 price target on shares of Intuitive Surgical in a research report on Tuesday, June 7th. Bank of America Corp. reiterated a “buy” rating on shares of Intuitive Surgical in a research report on Monday, June 6th. Finally, Piper Jaffray Cos. reiterated a “neutral” rating and set a $610.00 price target on shares of Intuitive Surgical in a research report on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Intuitive Surgical has a consensus rating of “Buy” and an average target price of $701.42.
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Intuitive Surgical (NASDAQ:ISRG) opened at 693.55 on Tuesday. The stock has a market capitalization of $26.70 billion, a P/E ratio of 39.36 and a beta of 0.73. Intuitive Surgical has a 52 week low of $447.00 and a 52 week high of $720.01. The company has a 50 day moving average of $688.34 and a 200 day moving average of $647.09.
Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Tuesday, July 19th. The company reported $5.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.65. Intuitive Surgical had a return on equity of 15.25% and a net margin of 26.80%. The firm earned $670 million during the quarter, compared to analysts’ expectations of $640.69 million. During the same period last year, the business posted $4.57 earnings per share. Equities analysts expect that Intuitive Surgical will post $21.30 EPS for the current fiscal year.
In other Intuitive Surgical news, SVP Mark J. Meltzer sold 3,000 shares of Intuitive Surgical stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $688.33, for a total value of $2,064,990.00. Following the sale, the senior vice president now owns 2,331 shares in the company, valued at $1,604,497.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Curet Myriam sold 4,250 shares of Intuitive Surgical stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $684.39, for a total value of $2,908,657.50. Following the completion of the sale, the senior vice president now owns 3,133 shares in the company, valued at approximately $2,144,193.87. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.
A number of large investors have recently bought and sold shares of ISRG. Global X Management Co. LLC acquired a new stake in Intuitive Surgical during the second quarter worth approximately $118,000. Acrospire Investment Management LLC acquired a new stake in Intuitive Surgical during the first quarter worth approximately $120,000. Bartlett & Co. LLC increased its stake in Intuitive Surgical by 7.3% in the second quarter. Bartlett & Co. LLC now owns 220 shares of the company’s stock worth $146,000 after buying an additional 15 shares in the last quarter. IFP Advisors Inc increased its stake in Intuitive Surgical by 3.3% in the first quarter. IFP Advisors Inc now owns 284 shares of the company’s stock worth $171,000 after buying an additional 9 shares in the last quarter. Finally, Glenmede Trust Co. NA increased its stake in Intuitive Surgical by 3.0% in the second quarter. Glenmede Trust Co. NA now owns 275 shares of the company’s stock worth $181,000 after buying an additional 8 shares in the last quarter. Institutional investors own 92.28% of the company’s stock.
Intuitive Surgical Company Profile
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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