Intuitive Surgical, Inc. (NASDAQ:ISRG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage currently has a $999.00 price objective on the medical equipment provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.37% from the stock’s previous close.

According to Zacks, “Intuitive Surgical reported stellar first-quarter 2017 results, crushing the Zacks Consensus Estimate on both the counts on the growing adoption of the da Vinci system (a surgical platform) among physicians and overall growth in global procedures. The company’s CE Mark approval for da Vinci X in the recent past is a key catalyst. A positive outlook for the coming quarters raises our confidence in the stock. Over the past three months, Intuitive Surgical outperformed the broader industry in terms of price performance. Further, incremental spending on product development and higher investments in international markets are prudent moves that are likely to drive long-term growth. The company is also expected to enhance its organizational capabilities and gain prominence in the markets of Europe and Asia. However, the da Vinci Surgical System has a long sale and purchase order cycle which might act against the company.”

Other analysts have also recently issued research reports about the company. Stifel Nicolaus lifted their price objective on Intuitive Surgical from $800.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday, April 19th. Canaccord Genuity reissued a “buy” rating and set a $870.00 price objective (up previously from $800.00) on shares of Intuitive Surgical in a research report on Wednesday, April 19th. Goldman Sachs Group Inc started coverage on Intuitive Surgical in a research report on Tuesday, May 16th. They set a “buy” rating and a $1,000.00 price objective for the company. Citigroup Inc reissued a “buy” rating and set a $917.00 price objective (up previously from $820.00) on shares of Intuitive Surgical in a research report on Saturday, April 22nd. Finally, Evercore ISI lifted their price objective on Intuitive Surgical from $750.00 to $785.00 and gave the company an “in-line” rating in a research report on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $831.40.

Analyst Recommendations for Intuitive Surgical (NASDAQ:ISRG)

Shares of Intuitive Surgical (NASDAQ:ISRG) traded down 0.18% during mid-day trading on Wednesday, hitting $895.40. The stock had a trading volume of 39,856 shares. The firm has a market cap of $32.99 billion, a P/E ratio of 45.14 and a beta of 0.55. The company has a 50 day moving average price of $821.67 and a 200 day moving average price of $720.17. Intuitive Surgical has a 12-month low of $610.71 and a 12-month high of $902.10.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Tuesday, April 18th. The medical equipment provider reported $5.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.97 by $1.12. The business had revenue of $674.20 million during the quarter, compared to analysts’ expectations of $664.72 million. Intuitive Surgical had a return on equity of 14.24% and a net margin of 27.21%. Intuitive Surgical’s revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the firm posted $4.42 earnings per share. Equities analysts forecast that Intuitive Surgical will post $23.61 earnings per share for the current fiscal year.

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In other Intuitive Surgical news, CEO Gary S. Guthart sold 18,775 shares of the firm’s stock in a transaction dated Friday, April 21st. The stock was sold at an average price of $810.33, for a total transaction of $15,213,945.75. Following the transaction, the chief executive officer now directly owns 95,573 shares in the company, valued at $77,445,669.09. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Jamie Samath sold 48 shares of the firm’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $850.00, for a total value of $40,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,028 shares of company stock worth $50,028,097. Corporate insiders own 3.10% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Virtus Investment Advisers Inc. bought a new position in Intuitive Surgical during the third quarter valued at $1,661,000. Rock Springs Capital Management LP raised its position in Intuitive Surgical by 2.3% in the third quarter. Rock Springs Capital Management LP now owns 45,000 shares of the medical equipment provider’s stock worth $32,617,000 after buying an additional 1,000 shares during the last quarter. Natixis Asset Management raised its position in Intuitive Surgical by 1.3% in the third quarter. Natixis Asset Management now owns 11,569 shares of the medical equipment provider’s stock worth $8,386,000 after buying an additional 152 shares during the last quarter. HighTower Advisors LLC raised its position in Intuitive Surgical by 16.6% in the third quarter. HighTower Advisors LLC now owns 2,081 shares of the medical equipment provider’s stock worth $1,513,000 after buying an additional 297 shares during the last quarter. Finally, Polar Capital LLP raised its position in Intuitive Surgical by 8.5% in the third quarter. Polar Capital LLP now owns 32,000 shares of the medical equipment provider’s stock worth $23,195,000 after buying an additional 2,500 shares during the last quarter. Institutional investors own 91.16% 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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