Wedbush Comments on Intuitive Surgical, Inc.’s Q4 2017 Earnings (ISRG)

Intuitive Surgical, Inc. (NASDAQ:ISRG) – Investment analysts at Wedbush lifted their Q4 2017 earnings per share estimates for shares of Intuitive Surgical in a research report issued on Tuesday. Wedbush analyst Levy. T now expects that the medical equipment provider will earn $1.95 per share for the quarter, up from their previous estimate of $1.95. Wedbush has a “Buy” rating on the stock. Wedbush also issued estimates for Intuitive Surgical’s FY2018 earnings at $8.10 EPS and FY2019 earnings at $9.30 EPS.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Thursday, July 20th. The medical equipment provider reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.02. The business had revenue of $756.20 million for the quarter, compared to analyst estimates of $724.51 million. Intuitive Surgical had a net margin of 28.44% and a return on equity of 15.99%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS.

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ISRG has been the topic of a number of other research reports. Leerink Swann reaffirmed an “outperform” rating on shares of Intuitive Surgical in a report on Wednesday, July 5th. Barclays PLC upped their target price on shares of Intuitive Surgical from $96.67 to $111.11 and gave the stock an “overweight” rating in a report on Friday, July 21st. They noted that the move was a valuation call. Morgan Stanley reaffirmed an “overweight” rating and set a $118.89 target price (up previously from $105.56) on shares of Intuitive Surgical in a report on Tuesday, July 25th. Vetr raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating and set a $113.59 target price on the stock in a report on Monday, August 28th. Finally, Zacks Investment Research raised shares of Intuitive Surgical from a “hold” rating to a “strong-buy” rating and set a $118.56 price target for the company in a research note on Tuesday, July 25th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Intuitive Surgical presently has an average rating of “Buy” and an average target price of $137.11.

Intuitive Surgical (NASDAQ ISRG) traded up 0.35% during mid-day trading on Thursday, hitting $363.79. 127,578 shares of the company traded hands. The firm has a 50 day moving average of $345.76 and a 200 day moving average of $309.03. Intuitive Surgical has a one year low of $203.57 and a one year high of $1,094.55. The firm has a market capitalization of $40.55 billion, a P/E ratio of 52.28 and a beta of 0.39.

A number of hedge funds and other institutional investors have recently modified their holdings of ISRG. Guardian Life Insurance Co. of America raised its holdings in Intuitive Surgical by 2.2% in the 1st quarter. Guardian Life Insurance Co. of America now owns 142 shares of the medical equipment provider’s stock worth $109,000 after purchasing an additional 3 shares in the last quarter. ETF Managers Group LLC bought a new position in Intuitive Surgical in the 2nd quarter worth $110,000. D. Scott Neal Inc. bought a new position in Intuitive Surgical in the 2nd quarter worth $120,000. Harvest Fund Management Co. Ltd bought a new position in Intuitive Surgical in the 2nd quarter worth $120,000. Finally, Parallel Advisors LLC raised its holdings in Intuitive Surgical by 10.1% in the 1st quarter. Parallel Advisors LLC now owns 153 shares of the medical equipment provider’s stock worth $129,000 after purchasing an additional 14 shares in the last quarter. Institutional investors and hedge funds own 94.23% of the company’s stock.

In other Intuitive Surgical news, SVP Mark J. Meltzer sold 500 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $1,025.00, for a total value of $512,500.00. Following the completion of the transaction, the senior vice president now directly owns 2,796 shares in the company, valued at approximately $2,865,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Salvatore Brogna sold 899 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $1,001.90, for a total transaction of $900,708.10. Following the completion of the transaction, the executive vice president now owns 570 shares of the company’s stock, valued at $571,083. The disclosure for this sale can be found here. Insiders have sold a total of 23,172 shares of company stock valued at $21,923,487 over the last quarter. 2.20% of the stock is currently owned by company insiders.

About Intuitive Surgical

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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