Wedbush Reaffirms Outperform Rating for Intuitive Surgical, Inc. (ISRG)
Wedbush reaffirmed their outperform rating on shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) in a research note issued to investors on Monday. Wedbush currently has a $1,060.00 price target on the medical equipment provider’s stock.
Other equities analysts have also issued reports about the stock. Bank of America Corporation reiterated a buy rating and issued a $333.33 price target on shares of Intuitive Surgical in a research note on Thursday, June 1st. Zacks Investment Research raised Intuitive Surgical from a hold rating to a buy rating and set a $341.33 price objective for the company in a report on Wednesday, May 31st. BidaskClub downgraded Intuitive Surgical from a strong-buy rating to a buy rating in a report on Tuesday, June 13th. Stifel Nicolaus reissued a buy rating and issued a $366.67 price objective (up from $283.33) on shares of Intuitive Surgical in a report on Saturday, July 22nd. Finally, Citigroup Inc. reissued a buy rating and issued a $359.33 price objective (up from $305.67) on shares of Intuitive Surgical in a report on Monday, July 24th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Intuitive Surgical has an average rating of Buy and an average price target of $411.32.
Intuitive Surgical (ISRG) traded down 0.03% during mid-day trading on Monday, reaching $1023.77. 9,169 shares of the company were exchanged. The stock has a 50-day moving average of $990.40 and a 200 day moving average of $891.23. Intuitive Surgical has a 1-year low of $610.71 and a 1-year high of $1,054.77. The firm has a market capitalization of $38.03 billion, a P/E ratio of 49.04 and a beta of 0.38. Intuitive Surgical shares are scheduled to split before the market opens on Friday, October 6th. The 3-1 split was announced on Friday, August 11th. The newly issued shares will be payable to shareholders after the market closes on Thursday, October 5th.
Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Thursday, July 20th. The medical equipment provider reported $1.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.05. The company 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 was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.87 earnings per share. Equities research analysts forecast that Intuitive Surgical will post $23.92 earnings per share for the current year.
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In related news, Director Michael A. Friedman sold 1,000 shares of Intuitive Surgical stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $945.60, for a total transaction of $945,600.00. Following the completion of the sale, the director now owns 977 shares in the company, valued at approximately $923,851.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gary S. Guthart sold 17,975 shares of Intuitive Surgical stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $937.27, for a total value of $16,847,428.25. Following the sale, the chief executive officer now owns 101,798 shares of the company’s stock, valued at approximately $95,412,211.46. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,172 shares of company stock valued at $21,923,487. Company insiders own 2.20% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. grew its holdings in Intuitive Surgical by 7.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 113,957 shares of the medical equipment provider’s stock valued at $87,345,000 after buying an additional 8,351 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in Intuitive Surgical by 8.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 4,180 shares of the medical equipment provider’s stock valued at $3,204,000 after buying an additional 324 shares during the period. Pacer Advisors Inc. grew its holdings in Intuitive Surgical by 4.4% in the 1st quarter. Pacer Advisors Inc. now owns 1,185 shares of the medical equipment provider’s stock valued at $908,000 after buying an additional 50 shares during the period. Nordea Investment Management AB grew its holdings in Intuitive Surgical by 17.3% in the 1st quarter. Nordea Investment Management AB now owns 1,940 shares of the medical equipment provider’s stock valued at $1,487,000 after buying an additional 286 shares during the period. Finally, Aberdeen Asset Management PLC UK grew its holdings in Intuitive Surgical by 2.1% in the 1st quarter. Aberdeen Asset Management PLC UK now owns 17,456 shares of the medical equipment provider’s stock valued at $13,379,000 after buying an additional 360 shares during the period. Hedge funds and other institutional investors own 94.23% of the company’s stock.
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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