Intuitive Surgical, Inc. (ISRG) Earns Outperform Rating from Wells Fargo & Co
Intuitive Surgical, Inc. (NASDAQ:ISRG)‘s stock had its “outperform” rating reaffirmed by Wells Fargo & Co in a report released on Thursday. They presently have a $1,000.00 price objective on the medical equipment provider’s stock. Wells Fargo & Co’s target price points to a potential upside of 9.85% from the stock’s previous close.
ISRG has been the subject of several other research reports. Zacks Investment Research upgraded Intuitive Surgical from a “hold” rating to a “buy” rating and set a $860.00 price objective for the company in a report on Tuesday, April 18th. Citigroup Inc reaffirmed a “buy” rating and set a $917.00 target price (up previously from $820.00) on shares of Intuitive Surgical in a research report on Saturday, April 22nd. Goldman Sachs Group Inc initiated coverage on Intuitive Surgical in a research report on Tuesday, May 16th. They set a “buy” rating and a $1,000.00 target price on the stock. Morgan Stanley set a $950.00 target price on Intuitive Surgical and gave the company an “overweight” rating in a research report on Monday, May 22nd. Finally, Evercore ISI lifted their target price 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 analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company’s stock. Intuitive Surgical presently has an average rating of “Buy” and a consensus target price of $841.94.
Intuitive Surgical (NASDAQ:ISRG) traded up 0.31% during trading on Thursday, reaching $910.36. The company’s stock had a trading volume of 208,947 shares. Intuitive Surgical has a 12 month low of $610.71 and a 12 month high of $914.76. The stock has a market cap of $33.54 billion, a PE ratio of 45.89 and a beta of 0.55. The company’s 50-day moving average is $833.96 and its 200-day moving average is $724.51.
Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Tuesday, April 18th. The medical equipment provider reported $5.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.97 by $1.12. The firm had revenue of $674.20 million during the quarter, compared to the consensus estimate of $664.72 million. Intuitive Surgical had a return on equity of 14.24% and a net margin of 27.21%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.42 earnings per share. Equities analysts expect that Intuitive Surgical will post $23.64 EPS for the current fiscal year.
In other news, VP Jamie Samath sold 48 shares of the company’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $850.00, for a total transaction of $40,800.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Salvatore Brogna sold 6,628 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $736.80, for a total value of $4,883,510.40. Following the transaction, the executive vice president now directly owns 1,990 shares in the company, valued at approximately $1,466,232. The disclosure for this sale can be found here. Insiders have sold a total of 62,806 shares of company stock worth $49,866,082 in the last ninety days. Insiders own 3.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ISRG. The Manufacturers Life Insurance Company purchased a new position in shares of Intuitive Surgical during the third quarter worth approximately $27,430,000. Virtus Investment Advisers Inc. purchased a new position in shares of Intuitive Surgical during the third quarter worth approximately $1,661,000. Rock Springs Capital Management LP boosted its position in shares of 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 in the last quarter. Natixis Asset Management boosted its position in shares of 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 in the last quarter. Finally, HighTower Advisors LLC boosted its position in shares of 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 in the last quarter. 91.16% of the stock is currently owned by hedge funds and other institutional investors.
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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