Intuitive Surgical (ISRG) Rating Increased to Strong-Buy at Zacks Investment Research
Intuitive Surgical (NASDAQ:ISRG) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday. The firm presently has a $437.00 target price on the medical equipment provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 16.99% from the company’s previous close.
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. “
A number of other equities research analysts have also recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and set a $353.33 price target on shares of Intuitive Surgical in a report on Monday, September 25th. Barclays reaffirmed an “overweight” rating on shares of Intuitive Surgical in a report on Friday, October 20th. Morgan Stanley reaffirmed an “overweight” rating on shares of Intuitive Surgical in a report on Tuesday, September 5th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Intuitive Surgical in a report on Saturday, November 18th. Finally, Vetr cut Intuitive Surgical from a “buy” rating to a “hold” rating and set a $111.83 price target on the stock. in a report on Wednesday, August 16th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Intuitive Surgical presently has a consensus rating of “Buy” and an average price target of $155.84.
Intuitive Surgical (NASDAQ:ISRG) opened at $373.55 on Tuesday. Intuitive Surgical has a 52 week low of $207.94 and a 52 week high of $405.05. The company has a market capitalization of $42,534.46, a P/E ratio of 50.24, a price-to-earnings-growth ratio of 5.27 and a beta of 0.48.
Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Thursday, October 19th. The medical equipment provider reported $2.77 EPS for the quarter, beating the Zacks’ consensus estimate of $1.99 by $0.78. Intuitive Surgical had a return on equity of 18.20% and a net margin of 30.16%. The company had revenue of $806.10 million during the quarter, compared to the consensus estimate of $753.25 million. During the same period in the previous year, the firm posted $2.06 earnings per share. Intuitive Surgical’s quarterly revenue was up 18.0% compared to the same quarter last year. research analysts forecast that Intuitive Surgical will post 7.85 EPS for the current fiscal year.
In other Intuitive Surgical news, insider Craig H. Barratt sold 15,000 shares of the company’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $371.18, for a total value of $5,567,700.00. Following the transaction, the insider now owns 7,500 shares of the company’s stock, valued at $2,783,850. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Curet Myriam sold 262 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $373.00, for a total value of $97,726.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,944 shares of company stock worth $21,432,971. 2.20% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of ISRG. Edgewood Management LLC increased its holdings in shares of Intuitive Surgical by 200.7% in the third quarter. Edgewood Management LLC now owns 2,898,113 shares of the medical equipment provider’s stock valued at $1,010,359,000 after buying an additional 1,934,382 shares in the last quarter. Koch Industries Inc. increased its holdings in shares of Intuitive Surgical by 202,917.0% in the second quarter. Koch Industries Inc. now owns 1,388,636 shares of the medical equipment provider’s stock valued at $1,387,000 after buying an additional 1,387,952 shares in the last quarter. FMR LLC increased its holdings in shares of Intuitive Surgical by 19.6% in the second quarter. FMR LLC now owns 2,724,964 shares of the medical equipment provider’s stock valued at $2,548,849,000 after buying an additional 447,397 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Intuitive Surgical by 7,931.4% in the second quarter. Janus Henderson Group PLC now owns 412,170 shares of the medical equipment provider’s stock valued at $385,532,000 after buying an additional 407,038 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Intuitive Surgical by 57.5% in the second quarter. Renaissance Technologies LLC now owns 307,100 shares of the medical equipment provider’s stock valued at $287,252,000 after buying an additional 112,130 shares in the last quarter. 32.80% of the stock is currently owned by institutional investors.
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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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