Intuitive Surgical (ISRG) Receives “Sell” Rating from Northland Securities
Northland Securities restated their sell rating on shares of Intuitive Surgical (NASDAQ:ISRG) in a research report report published on Thursday. The brokerage currently has a $375.00 price objective on the medical equipment provider’s stock.
“We are tweaking our models accordingly, and are introducing our FY20 numbers. Key Points Instrument & Accessory revs @ $539M vs. our estimate @ $535M. Systems revs @ $340M vs. our estimate @ $327M.”,” Northland Securities’ analyst wrote.
Other analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Intuitive Surgical from a buy rating to a hold rating in a report on Wednesday, November 21st. Piper Jaffray Companies upgraded shares of Intuitive Surgical from a neutral rating to an overweight rating and set a $600.00 price objective for the company in a research report on Tuesday, October 9th. ValuEngine lowered shares of Intuitive Surgical from a hold rating to a sell rating in a research report on Friday, December 7th. Canaccord Genuity upgraded shares of Intuitive Surgical from a hold rating to a buy rating and raised their price objective for the company from $550.00 to $610.00 in a research report on Friday, October 19th. They noted that the move was a valuation call. Finally, Wells Fargo & Co raised their price objective on shares of Intuitive Surgical from $575.00 to $635.00 and gave the company an outperform rating in a research report on Wednesday, September 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $563.17.
Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Thursday, October 18th. The medical equipment provider reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.17. Intuitive Surgical had a net margin of 22.31% and a return on equity of 18.79%. The firm had revenue of $920.90 million for the quarter, compared to analyst estimates of $916.22 million. During the same period last year, the firm earned $2.77 earnings per share. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. As a group, equities analysts anticipate that Intuitive Surgical will post 9.54 EPS for the current year.
In related news, COO Salvatore Brogna sold 2,090 shares of the stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $541.88, for a total value of $1,132,529.20. Following the completion of the sale, the chief operating officer now directly owns 2,049 shares of the company’s stock, valued at approximately $1,110,312.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David J. Rosa sold 32,500 shares of the stock in a transaction that occurred on Tuesday, October 23rd. The stock was 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 directly owns 44,208 shares of the company’s stock, valued at $22,142,018.88. The disclosure for this sale can be found here. Insiders have sold a total of 72,491 shares of company stock valued at $37,767,784 in the last ninety days. Insiders own 2.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in Intuitive Surgical by 19.2% in the 2nd quarter. FMR LLC now owns 6,629,648 shares of the medical equipment provider’s stock worth $3,172,155,000 after purchasing an additional 1,068,107 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Intuitive Surgical by 2.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,229 shares of the medical equipment provider’s stock valued at $2,022,000 after acquiring an additional 117 shares during the last quarter. Raymond James & Associates lifted its position in Intuitive Surgical by 23.8% in the second quarter. Raymond James & Associates now owns 31,778 shares of the medical equipment provider’s stock worth $15,205,000 after buying an additional 6,111 shares during the last quarter. Voya Investment Management LLC lifted its position in Intuitive Surgical by 3.6% in the second quarter. Voya Investment Management LLC now owns 42,362 shares of the medical equipment provider’s stock worth $20,269,000 after buying an additional 1,491 shares during the last quarter. Finally, Flagship Harbor Advisors LLC lifted its position in Intuitive Surgical by 23.7% in the second quarter. Flagship Harbor Advisors LLC now owns 985 shares of the medical equipment provider’s stock worth $471,000 after buying an additional 189 shares during the last quarter. 84.14% of the stock is owned by institutional investors.
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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