Intuitive Surgical Inc. (ISRG) Sees Strong Trading Volume Following Better-Than-Expected Earnings
Intuitive Surgical Inc. (NASDAQ:ISRG) shares saw strong trading volume on Tuesday after the company announced better than expected quarterly earnings. 483,355 shares traded hands during trading, an increase of 77% from the previous session’s volume of 272,650 shares.The stock last traded at $721.73 and had previously closed at $709.44.
The company reported $6.19 EPS for the quarter, beating analysts’ consensus estimates of $5.13 by $1.06. Intuitive Surgical had a return on equity of 15.25% and a net margin of 26.80%.
A number of research analysts have recently commented on the company. Piper Jaffray Cos. reissued a “neutral” rating and set a $700.00 price target (up from $610.00) on shares of Intuitive Surgical in a report on Wednesday, July 20th. Northland Securities lowered Intuitive Surgical from a “market perform” rating to an “under perform” rating and set a $600.00 price target on the stock. in a report on Thursday, July 21st. Zacks Investment Research lowered Intuitive Surgical from a “hold” rating to a “sell” rating in a report on Monday, June 27th. Canaccord Genuity raised their price target on Intuitive Surgical from $700.00 to $750.00 and gave the company a “buy” rating in a report on Wednesday, July 20th. Finally, Evercore ISI reissued a “buy” rating and set a $775.00 price target (up from $750.00) on shares of Intuitive Surgical in a report on Wednesday, July 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $701.42.
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In other news, SVP Mark J. Meltzer sold 3,000 shares of Intuitive Surgical stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 2,331 shares in the company, valued at approximately $1,604,497.23. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gary S. Guthart sold 13,400 shares of Intuitive Surgical stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $698.00, for a total value of $9,353,200.00. Following the sale, the chief executive officer now owns 78,780 shares of the company’s stock, valued at $54,988,440. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Intuitive Surgical by 3.4% in the second quarter. Vanguard Group Inc. now owns 2,326,605 shares of the company’s stock valued at $1,538,841,000 after buying an additional 77,521 shares in the last quarter. FMR LLC raised its stake in shares of Intuitive Surgical by 15.5% in the second quarter. FMR LLC now owns 2,190,718 shares of the company’s stock valued at $1,448,962,000 after buying an additional 294,511 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Intuitive Surgical by 3.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 989,902 shares of the company’s stock valued at $654,731,000 after buying an additional 29,881 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Intuitive Surgical by 24.3% in the second quarter. BlackRock Fund Advisors now owns 831,970 shares of the company’s stock valued at $550,273,000 after buying an additional 162,789 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Intuitive Surgical by 87.7% in the second quarter. JPMorgan Chase & Co. now owns 619,160 shares of the company’s stock valued at $409,519,000 after buying an additional 289,330 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.
The stock has a market capitalization of $27.78 billion, a price-to-earnings ratio of 40.96 and a beta of 0.72. The stock’s 50 day moving average is $702.11 and its 200 day moving average is $665.53.
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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