Intuitive Surgical (NASDAQ:ISRG) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $437.00 target price on the medical equipment provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 16.99% from the stock’s current price.
According to Zacks, “Over the last three months, Intuitive Surgical has been consistently trading above the broader industry. The company’s procedure performance in Asia showed continued strength with solid growth in China, Japan and Korea. Intuitive Surgical gained significantly on the CE Mark approval for da Vinci X in Europe. The stock received further boost on the recent FDA approval of the same. Also, a solid outlook for the coming quarters also raises our confidence in the stock. 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. Notably, the company's third quarter earnings and revenues both topped the Zacks Consensus Estimate. “
Several other equities analysts also recently commented on ISRG. Vetr downgraded shares of Intuitive Surgical from a “buy” rating to a “hold” rating and set a $111.83 price target for the company. in a research note on Wednesday, August 16th. BidaskClub upgraded shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Canaccord Genuity restated a “hold” rating on shares of Intuitive Surgical in a research note on Tuesday, October 17th. Wells Fargo & Company restated a “buy” rating on shares of Intuitive Surgical in a research note on Monday, October 16th. Finally, Wedbush restated an “outperform” rating and issued a $353.33 price target on shares of Intuitive Surgical in a research note on Monday, September 25th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $155.84.
Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Thursday, October 19th. The medical equipment provider reported $2.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.99 by $0.78. The business had revenue of $806.10 million during the quarter, compared to the consensus estimate of $753.25 million. Intuitive Surgical had a net margin of 30.16% and a return on equity of 18.20%. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.06 earnings per share. analysts forecast that Intuitive Surgical will post 7.85 earnings per share for the current year.
In related news, Director Alan J. Levy sold 2,997 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $371.35, for a total value of $1,112,935.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Craig H. Barratt sold 15,000 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $371.18, for a total transaction of $5,567,700.00. Following the completion of the sale, the insider now directly owns 7,500 shares of the company’s stock, valued at $2,783,850. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,944 shares of company stock valued at $21,432,971. Corporate insiders own 2.20% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. ETF Managers Group LLC purchased a new stake in Intuitive Surgical in the second quarter valued at $110,000. Harvest Fund Management Co. Ltd purchased a new stake in Intuitive Surgical in the second quarter valued at $120,000. Parallel Advisors LLC lifted its position in Intuitive Surgical by 3.9% in the second quarter. Parallel Advisors LLC now owns 159 shares of the medical equipment provider’s stock valued at $149,000 after acquiring an additional 6 shares during the last quarter. Lincoln National Corp purchased a new stake in Intuitive Surgical in the third quarter valued at $200,000. Finally, MUFG Americas Holdings Corp purchased a new stake in Intuitive Surgical in the third quarter valued at $208,000. 32.80% of the stock is 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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