Zacks Investment Research Lowers Intuitive Surgical (ISRG) to Hold
Zacks Investment Research lowered shares of Intuitive Surgical (NASDAQ:ISRG) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Over the last three months, Intuitive Surgical has been consistently trading above the broader industry. Procedure performance in Asia showed continued strength with solid growth in China, Japan and Korea. Moreover, the company gained significantly on the CE Mark approval for da Vinci X in Europe. The stock has got a further boost on the FDA approval of the same in the recent past. A positive outlook for the coming quarters also raises our confidence in the stock. However, unfavorable foreign exchange movements are impacting the company’s results. Intuitive Surgical expects margins to fluctuate based on the company’s mix of new products, mix of systems in instrument and accessory revenue segments, and the reinstatement of the medical device tax in 2018. The company’s da Vinci Surgical System has a long sale and purchase order cycle which might act against the company’s growth.”
Several other analysts have also issued reports on ISRG. Canaccord Genuity reiterated a hold rating on shares of Intuitive Surgical in a report on Tuesday, October 17th. BidaskClub lowered Intuitive Surgical from a strong-buy rating to a buy rating in a report on Tuesday, December 12th. Wells Fargo & Company reiterated a buy rating on shares of Intuitive Surgical in a report on Monday, October 16th. Wedbush reiterated an outperform rating and set a $353.33 price objective on shares of Intuitive Surgical in a report on Monday, September 25th. Finally, Vetr upgraded Intuitive Surgical from a hold rating to a buy rating and set a $340.77 price objective for the company in a report on Monday, August 28th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $335.32.
Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Thursday, October 19th. The medical equipment provider reported $2.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $806.10 million during the quarter, compared to analyst estimates of $753.25 million. During the same period last year, the company earned $2.06 earnings per share. Intuitive Surgical’s quarterly revenue was up 18.0% compared to the same quarter last year. equities analysts anticipate that Intuitive Surgical will post 7.85 earnings per share for the current year.
In other news, insider Craig H. Barratt sold 15,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 7,500 shares of the company’s stock, valued at $2,783,850. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alan J. Levy sold 2,997 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $371.35, for a total value of $1,112,935.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,944 shares of company stock worth $21,432,971. 2.20% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. Edgewood Management LLC grew its position in Intuitive Surgical by 200.7% during the third quarter. Edgewood Management LLC now owns 2,898,113 shares of the medical equipment provider’s stock worth $1,010,359,000 after buying an additional 1,934,382 shares in the last quarter. FMR LLC grew its position in Intuitive Surgical by 19.6% during the second quarter. FMR LLC now owns 2,724,964 shares of the medical equipment provider’s stock worth $2,548,849,000 after buying an additional 447,397 shares in the last quarter. Vanguard Group Inc. grew its position in Intuitive Surgical by 0.8% during the second quarter. Vanguard Group Inc. now owns 2,524,027 shares of the medical equipment provider’s stock worth $2,360,900,000 after buying an additional 20,210 shares in the last quarter. Koch Industries Inc. grew its position 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 buying an additional 1,387,952 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position 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 buying an additional 21,795 shares in the last quarter. 32.72% of the stock is currently owned by institutional investors.
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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