Intuitive Surgical (ISRG) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Intuitive Surgical (NASDAQ:ISRG) from a hold rating to a buy rating in a report released on Thursday. Zacks Investment Research currently has $541.00 price target on the medical equipment provider’s stock.
According to Zacks, “Intuitive Surgical outperformed the industry in a year’s time, courtesy of strong exposure to robotics & medical mechatronics. The company’s robotic platform – da Vinci System – recorded solid growth in recent times. This is led by strong performance in U.S. general surgery procedures and global urologic procedures. Management expects strong contributions from da Vinci in 2019 as well. Commencement of da Vinci sale in Taiwan also adds to the positives. Management is also optimistic about the company’s collaboration with InTouch Health. On the negative side, the company 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 the global MedTech space as well as long sale and purchase order cycles of da Vinci unit has been currently plaguing the company. “
Several other brokerages also recently issued reports on ISRG. Wells Fargo & Co raised their price objective on shares of Intuitive Surgical from $575.00 to $635.00 and gave the stock an outperform rating in a research report on Wednesday, September 12th. Piper Jaffray Companies raised shares of Intuitive Surgical from a neutral rating to an overweight rating and set a $600.00 price objective on the stock in a research report on Tuesday, October 9th. Raymond James raised 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. Royal Bank of Canada reissued a hold rating and set a $560.00 price objective on shares of Intuitive Surgical in a research report on Friday, October 19th. Finally, Canaccord Genuity raised shares of Intuitive Surgical from a hold rating to a buy rating and raised their price objective for the stock from $550.00 to $610.00 in a research report on Friday, October 19th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have issued a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $563.17.
Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Thursday, October 18th. The medical equipment provider reported $2.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 the consensus estimate of $916.22 million. During the same period last year, the firm posted $2.77 EPS. Intuitive Surgical’s revenue for the quarter was up 14.0% on a year-over-year basis. As a group, equities analysts anticipate that Intuitive Surgical will post 9.54 earnings per share for the current fiscal year.
In related news, Director Lonnie M. Smith sold 225 shares of the firm’s 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 sale, the director now owns 379,175 shares in the company, valued at $204,769,667. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David J. Rosa sold 32,500 shares of the firm’s stock in a transaction dated Tuesday, October 23rd. The shares were sold at an average price of $500.86, for a total transaction of $16,277,950.00. Following the completion of the sale, the executive vice president now owns 44,208 shares of the company’s stock, valued at approximately $22,142,018.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,491 shares of company stock worth $37,767,784. Insiders own 2.20% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Cornerstone Advisors Inc. lifted its stake in shares of Intuitive Surgical by 32.3% in the third quarter. Cornerstone Advisors Inc. now owns 123 shares of the medical equipment provider’s stock valued at $71,000 after purchasing an additional 30 shares during the period. Private Trust Co. NA lifted its stake in shares of Intuitive Surgical by 8.6% in the fourth quarter. Private Trust Co. NA now owns 692 shares of the medical equipment provider’s stock valued at $331,000 after purchasing an additional 55 shares during the period. Moody National Bank Trust Division acquired a new stake in shares of Intuitive Surgical in the fourth quarter valued at about $38,000. CENTRAL TRUST Co lifted its stake in shares of Intuitive Surgical by 26.4% in the third quarter. CENTRAL TRUST Co now owns 460 shares of the medical equipment provider’s stock valued at $264,000 after purchasing an additional 96 shares during the period. Finally, Rafferty Asset Management LLC lifted its stake in shares of Intuitive Surgical by 2.8% in the third quarter. Rafferty Asset Management LLC now owns 3,571 shares of the medical equipment provider’s stock valued at $2,050,000 after purchasing an additional 96 shares during the period. Hedge funds and other institutional investors own 84.14% of the company’s stock.
Intuitive Surgical Company Profile
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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