Intuitive Surgical, Inc. (NASDAQ:ISRG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage presently has a $436.00 price target on the medical equipment provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.19% from the company’s current price.

According to Zacks, “Over the last three months, Intuitive Surgical has been consistently trading above the broader industry. Its third quarter earnings and revenues both topped the Zacks Consensus Estimate. 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.”

ISRG has been the topic of several other reports. Vetr raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating and set a $113.37 target price on the stock in a research report on Thursday, August 17th. Wedbush reissued a “buy” rating on shares of Intuitive Surgical in a research report on Tuesday, October 10th. Morgan Stanley reissued an “overweight” rating and set a $118.89 target price (up from $105.56) on shares of Intuitive Surgical in a research report on Tuesday, July 25th. Canaccord Genuity reissued a “hold” rating and set a $111.11 target price (up from $96.67) on shares of Intuitive Surgical in a research report on Wednesday, July 26th. Finally, Barclays PLC increased their target price on shares of Intuitive Surgical from $96.67 to $111.11 and gave the stock an “overweight” rating in a research report on Friday, July 21st. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $155.78.

Intuitive Surgical (NASDAQ:ISRG) opened at $392.12 on Tuesday. The company has a market cap of $43,940.00, a price-to-earnings ratio of 51.50, a price-to-earnings-growth ratio of 5.44 and a beta of 0.46. Intuitive Surgical has a 1 year low of $203.57 and a 1 year high of $393.51.

Intuitive Surgical (NASDAQ:ISRG) last posted its 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 firm had revenue of $806.10 million for 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 business’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.06 earnings per share. equities research analysts anticipate that Intuitive Surgical will post 7.85 EPS for the current fiscal year.

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In related news, CFO Marshall Mohr sold 6,000 shares of the stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $372.22, for a total value of $2,233,320.00. Following the completion of the sale, the chief financial officer now owns 12,316 shares in the company, valued at $4,584,261.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Curet Myriam sold 262 shares of the stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $373.00, for a total transaction of $97,726.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,076 shares of company stock valued at $15,208,381. 2.20% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Edgewood Management LLC lifted its stake 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 during the period. FMR LLC lifted its stake 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 during the period. Vanguard Group Inc. lifted its stake in shares of Intuitive Surgical by 0.8% in the second quarter. Vanguard Group Inc. now owns 2,524,027 shares of the medical equipment provider’s stock valued at $2,360,900,000 after buying an additional 20,210 shares during the period. Koch Industries Inc. lifted its stake in Intuitive Surgical by 202,917.0% during the second quarter. Koch Industries Inc. now owns 1,388,636 shares of the medical equipment provider’s stock worth $1,387,000 after purchasing an additional 1,387,952 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in Intuitive Surgical by 3.3% during the second quarter. Alliancebernstein L.P. now owns 690,780 shares of the medical equipment provider’s stock worth $646,135,000 after purchasing an additional 21,795 shares during the period. Institutional investors and hedge funds own 31.30% 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.

Analyst Recommendations for Intuitive Surgical (NASDAQ:ISRG)

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