Intuitive Surgical Inc. (ISRG) Stock Rating Reaffirmed by JPMorgan Chase & Co.
Intuitive Surgical Inc. (NASDAQ:ISRG)‘s stock had its “buy” rating reaffirmed by equities research 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.””
ISRG has been the topic of a number of other research reports. Raymond James Financial Inc. started coverage on shares of Intuitive Surgical in a research report on Friday, August 26th. They issued an “outperform” rating on the stock. Zacks Investment Research raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating and set a $753.00 target price on the stock in a research report on Wednesday, September 14th. BTIG Research reaffirmed a “hold” rating on shares of Intuitive Surgical in a research report on Tuesday. Citigroup Inc. reaffirmed a “buy” rating on shares of Intuitive Surgical in a research report on Thursday, June 2nd. Finally, Leerink Swann reaffirmed an “outperform” rating and issued a $780.00 target price on shares of Intuitive Surgical in a research report on Monday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $701.42.
Intuitive Surgical (NASDAQ:ISRG) opened at 703.06 on Tuesday. The stock has a 50 day moving average of $688.84 and a 200-day moving average of $648.41. Intuitive Surgical has a 12 month low of $447.00 and a 12 month high of $720.01. The stock has a market cap of $27.06 billion, a P/E ratio of 39.90 and a beta of 0.73.
Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Tuesday, July 19th. The company reported $5.62 EPS for the quarter, beating the Zacks’ consensus estimate of $4.97 by $0.65. Intuitive Surgical had a net margin of 26.80% and a return on equity of 15.25%. The company had revenue of $670 million for the quarter, compared to analysts’ expectations of $640.69 million. During the same quarter in the prior year, the company posted $4.57 earnings per share. On average, equities analysts forecast that Intuitive Surgical will post $21.30 EPS for the current fiscal year.
In other news, SVP Mark J. Meltzer sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $688.33, for a total transaction of $2,064,990.00. Following the transaction, the senior vice president now directly owns 2,331 shares in the company, valued at $1,604,497.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Marshall Mohr sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $684.09, for a total transaction of $3,420,450.00. Following the transaction, the chief financial officer now owns 6,725 shares in the company, valued at $4,600,505.25. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. TIAA CREF Investment Management LLC raised its position in shares of Intuitive Surgical by 29.5% in the first quarter. TIAA CREF Investment Management LLC now owns 520,997 shares of the company’s stock worth $313,145,000 after buying an additional 118,738 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Intuitive Surgical by 12.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 17,851 shares of the company’s stock valued at $10,729,000 after buying an additional 2,030 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Intuitive Surgical by 3.3% in the first quarter. IFP Advisors Inc now owns 284 shares of the company’s stock valued at $171,000 after buying an additional 9 shares in the last quarter. Virginia Retirement System bought a new stake in shares of Intuitive Surgical during the first quarter valued at $9,681,000. Finally, Nisa Investment Advisors L.L.C. increased its stake in shares of Intuitive Surgical by 6.3% in the first quarter. Nisa Investment Advisors L.L.C. now owns 6,715 shares of the company’s stock valued at $4,036,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 91.90% of the company’s stock.
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.
Receive News & Ratings for Intuitive Surgical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuitive Surgical Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.