Intuitive Surgical (NASDAQ:ISRG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

According to Zacks, “Intuitive Surgical expects outside U.S. sales to be a bit lumpy in the quarters ahead. These markets are in early stages of adoption. Intense competition in niche space as well as long sale and purchase order cycles of da Vinci unit has been currently plaguing the company. On the brighter side, strong prospects in the company’s robotic platform – da Vinci System – is a positive. da Vinci procedures recorded solid growth in recent times. This is led by growth in U.S. general surgery procedures and global urologic procedures. A regulatory approval for the Sure Form 60 buoys optimism. Earlier this year, the company submitted a premarket notification to the FDA for the Ion endoluminal system. Management is also optimistic about the company’s collaboration with InTouch Health. The company outperformed the industry in a year’s time. “

A number of other research firms have also weighed in on ISRG. Piper Jaffray Companies raised their price target on shares of Intuitive Surgical from $613.00 to $625.00 and gave the company an “overweight” rating in a research report on Wednesday, October 31st. Cantor Fitzgerald reissued a “buy” rating and set a $620.00 price target on shares of Intuitive Surgical in a research report on Friday, October 19th. BidaskClub lowered shares of Intuitive Surgical from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 22nd. BTIG Research reaffirmed a “hold” rating on shares of Intuitive Surgical in a research report on Sunday, October 21st. Finally, Raymond James lifted their price objective on shares of Intuitive Surgical from $620.00 to $630.00 and gave the stock an “outperform” rating in a research report on Friday, October 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $556.01.

ISRG opened at $518.82 on Thursday. Intuitive Surgical has a fifty-two week low of $359.75 and a fifty-two week high of $581.12. The stock has a market cap of $59.25 billion, a P/E ratio of 72.16, a PEG ratio of 3.75 and a beta of 1.03.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Thursday, October 18th. The medical equipment provider reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.17. Intuitive Surgical had a net margin of 22.31% and a return on equity of 18.79%. The company had revenue of $920.90 million for the quarter, compared to analyst estimates of $916.22 million. During the same period last year, the firm earned $2.77 earnings per share. The firm’s revenue was up 14.0% on a year-over-year basis. On average, research analysts predict that Intuitive Surgical will post 9.52 EPS for the current fiscal year.

In other news, Director Lonnie M. Smith sold 225 shares of Intuitive Surgical stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $540.04, for a total value of $121,509.00. Following the completion of the transaction, the director now owns 379,175 shares in the company, valued at $204,769,667. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jamie Samath sold 864 shares of Intuitive Surgical stock in a transaction dated Tuesday, October 23rd. The stock was sold at an average price of $499.21, for a total transaction of $431,317.44. Following the completion of the transaction, the vice president now owns 257 shares of the company’s stock, valued at approximately $128,296.97. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,561 shares of company stock worth $38,888,606. Insiders own 2.20% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Arrow Financial Corp purchased a new position in Intuitive Surgical during the third quarter valued at approximately $115,000. JNBA Financial Advisors purchased a new position in Intuitive Surgical during the third quarter valued at approximately $115,000. Pendal Group Ltd purchased a new position in Intuitive Surgical during the third quarter valued at approximately $118,000. Optimum Investment Advisors grew its stake in Intuitive Surgical by 189.9% during the third quarter. Optimum Investment Advisors now owns 229 shares of the medical equipment provider’s stock valued at $131,000 after acquiring an additional 150 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Intuitive Surgical during the third quarter valued at approximately $137,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

About Intuitive Surgical

Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. The company's da Vinci surgical System translates a surgeon's natural 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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