Zacks Investment Research Upgrades Intuitive Surgical Inc. (ISRG) to “Buy”
Zacks Investment Research upgraded shares of Intuitive Surgical Inc. (NASDAQ:ISRG) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. Zacks Investment Research currently has $753.00 price objective on the stock.
According to Zacks, “Intuitive Surgical reported impressive second quarter 2016 results. We believe incremental spending on product development and higher investment on expanding the company’s footprint in international markets (particularly in Europe) are prudent moves that will drive long-term growth. Further, growing adoption of the da Vinci system among physicians for general surgery and thoracic procedures is a key growth catalyst. Moreover, the integrated Table Motion product has gained significant traction within a short span of time, which will boost top-line growth. However, management’s guidance for the second half of the year disappointed us. Gross margin is also forecasted to decline in the back half. Moreover, higher spending on product development can weigh on margin in the near term.”
Several other analysts have also recently commented on the company. Raymond James Financial Inc. began coverage on Intuitive Surgical in a research report on Friday, August 26th. They set an outperform rating for the company. Northland Securities cut Intuitive Surgical from a market perform rating to an under perform rating and set a $600.00 price target for the company. in a research report on Thursday, July 21st. Evercore ISI reiterated a buy rating and set a $775.00 price target (up from $750.00) on shares of Intuitive Surgical in a research report on Wednesday, July 20th. Citigroup Inc. boosted their price target on Intuitive Surgical from $723.00 to $779.00 and gave the stock a buy rating in a research report on Wednesday, July 20th. Finally, Barclays PLC boosted their price objective on Intuitive Surgical from $690.00 to $750.00 and gave the stock an overweight rating in a research note on Wednesday, July 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $701.42.
Shares of Intuitive Surgical (NASDAQ:ISRG) opened at 693.55 on Wednesday. Intuitive Surgical has a 1-year low of $447.00 and a 1-year high of $720.01. The stock has a market cap of $26.70 billion, a price-to-earnings ratio of 39.36 and a beta of 0.73. The firm has a 50-day moving average price of $688.34 and a 200-day moving average price of $647.09.
Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Tuesday, July 19th. The company reported $5.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.97 by $0.65. Intuitive Surgical had a return on equity of 15.25% and a net margin of 26.80%. The firm earned $670 million during the quarter, compared to analysts’ expectations of $640.69 million. During the same period in the previous year, the business earned $4.57 earnings per share. Equities analysts forecast that Intuitive Surgical will post $21.30 EPS for the current year.
In other news, CEO Gary S. Guthart sold 13,400 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $698.00, for a total value of $9,353,200.00. Following the transaction, the chief executive officer now owns 78,780 shares in the company, valued at approximately $54,988,440. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alan J. Levy sold 3,188 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $694.11, for a total value of $2,212,822.68. Following the completion of the transaction, the director now owns 5,401 shares in the company, valued at approximately $3,748,888.11. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Global X Management Co. LLC acquired a new position in Intuitive Surgical during the second quarter worth approximately $118,000. Acrospire Investment Management LLC acquired a new position in Intuitive Surgical during the first quarter worth approximately $120,000. Bartlett & Co. LLC increased its position in Intuitive Surgical by 7.3% in the second quarter. Bartlett & Co. LLC now owns 220 shares of the company’s stock worth $146,000 after buying an additional 15 shares during the last quarter. Glenmede Trust Co. NA increased its position in Intuitive Surgical by 3.0% in the second quarter. Glenmede Trust Co. NA now owns 275 shares of the company’s stock worth $181,000 after buying an additional 8 shares during the last quarter. Finally, IFP Advisors Inc increased its position in Intuitive Surgical by 3.3% in the first quarter. IFP Advisors Inc now owns 284 shares of the company’s stock worth $171,000 after buying an additional 9 shares during the last quarter. Institutional investors and hedge funds own 92.28% 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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