Zacks Investment Research downgraded shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) from a buy rating to a hold rating in a research report sent to investors on Monday.
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. A solid outlook for the coming quarters also raises our confidence in the stock. However, the da Vinci Surgical System has a long sale and purchase order cycle which might act against the company. Furthermore, Intuitive Surgical expects sales to decline outside the United States in the coming quarters.Intuitive Surgical looks a little overvalued at the moment. Furthermore, the ongoing political conundrum in the U.S. MedTech space is likely to dampen the company’s top line in the coming quarters.”
Several other research analysts also recently commented on ISRG. Royal Bank Of Canada raised their target price on Intuitive Surgical from $88.89 to $105.56 and gave the stock a sector perform rating in a research note on Tuesday, July 18th. Vetr downgraded Intuitive Surgical from a buy rating to a hold rating and set a $112.28 price target for the company. in a research report on Thursday, July 20th. Cantor Fitzgerald reiterated a hold rating and set a $116.67 price target on shares of Intuitive Surgical in a research report on Friday, July 21st. Barclays PLC lifted their price target on Intuitive Surgical from $96.67 to $111.11 and gave the company an overweight rating in a research report on Friday, July 21st. They noted that the move was a valuation call. Finally, J P Morgan Chase & Co reiterated an overweight rating and set a $116.67 price target on shares of Intuitive Surgical in a research report on Friday, July 21st. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $155.78.
Shares of Intuitive Surgical (ISRG) traded down $1.15 during midday trading on Monday, reaching $390.97. The company’s stock had a trading volume of 576,731 shares, compared to its average volume of 973,879. Intuitive Surgical has a fifty-two week low of $203.57 and a fifty-two week high of $393.51. The company has a market cap of $43,980.00, a P/E ratio of 51.50, a P/E/G ratio of 5.44 and a beta of 0.46.
Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Thursday, October 19th. The medical equipment provider reported $2.77 EPS for the quarter, topping the 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 the consensus estimate of $753.25 million. During the same quarter last year, the company earned $2.06 EPS. The firm’s revenue was up 18.0% compared to the same quarter last year. sell-side analysts predict that Intuitive Surgical will post 7.85 EPS for the current fiscal year.
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In other Intuitive Surgical news, insider Craig H. Barratt sold 15,000 shares of Intuitive Surgical stock in a transaction that occurred 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 directly owns 7,500 shares of the company’s stock, valued at approximately $2,783,850. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marshall Mohr sold 6,000 shares of Intuitive Surgical stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $372.22, for a total value of $2,233,320.00. Following the completion of the transaction, the chief financial officer now directly owns 12,316 shares in the company, valued at $4,584,261.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,656 shares of company stock worth $15,432,702. 2.20% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in ISRG. Edgewood Management LLC increased its stake in Intuitive Surgical by 200.7% in the 3rd quarter. Edgewood Management LLC now owns 2,898,113 shares of the medical equipment provider’s stock worth $1,010,359,000 after purchasing an additional 1,934,382 shares during the period. Koch Industries Inc. increased its stake in Intuitive Surgical by 202,917.0% in the 2nd 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. FMR LLC increased its stake in Intuitive Surgical by 19.6% in the 2nd quarter. FMR LLC now owns 2,724,964 shares of the medical equipment provider’s stock worth $2,548,849,000 after purchasing an additional 447,397 shares during the period. Janus Henderson Group PLC increased its stake in Intuitive Surgical by 7,931.4% in the 2nd quarter. Janus Henderson Group PLC now owns 412,170 shares of the medical equipment provider’s stock worth $385,532,000 after purchasing an additional 407,038 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Intuitive Surgical by 57.5% in the 2nd quarter. Renaissance Technologies LLC now owns 307,100 shares of the medical equipment provider’s stock worth $287,252,000 after purchasing an additional 112,130 shares during the period. 31.30% of the stock is currently owned by institutional investors and hedge funds.
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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