Intuitive Surgical (NASDAQ:ISRG) Receives “Buy” Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their buy rating on shares of Intuitive Surgical (NASDAQ:ISRG) in a report issued on Friday, January 25th. They currently have a $620.00 price target on the medical equipment provider’s stock.

“: We reiterate our Overweight rating on shares of ISRG and maintain our PT of $620. ISRG reported 4Q18 results consistent with its preliminary announcement (1/9). ISRG delivered 19% procedure growth for 4Q18, largely driven by US general surgery and worldwide urology. ISRG reiterated its procedure growth guidance (13-17%), however we expect initial guidance to prove conservative as it has over the past several years. Management plans to increase opex by 20-28% in 2019, which comes as a surprise. We expect investors to have an initial negative reaction to the expected significant increase in spending, but we think the investments will fuel future top-line growth and accelerate ISRG’s pipeline.”,” Cantor Fitzgerald’s analyst wrote.

ISRG has been the subject of a number of other reports. Piper Jaffray Companies upgraded Intuitive Surgical from a neutral rating to an overweight rating and set a $600.00 target price for the company in a research note on Tuesday, October 9th. Morgan Stanley upped their target price on Intuitive Surgical from $575.00 to $600.00 and gave the company an overweight rating in a research note on Thursday, October 11th. Zacks Investment Research lowered Intuitive Surgical from a buy rating to a hold rating in a research note on Thursday, November 29th. Citigroup lowered their price target on Intuitive Surgical from $601.00 to $560.00 and set a buy rating on the stock in a research report on Wednesday, January 2nd. Finally, UBS Group assumed coverage on Intuitive Surgical in a research report on Tuesday, November 27th. They issued a neutral rating and a $540.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Intuitive Surgical currently has a consensus rating of Buy and an average price target of $566.40.

Shares of ISRG stock opened at $517.05 on Friday. Intuitive Surgical has a 12 month low of $380.00 and a 12 month high of $581.12. The company has a market cap of $59.20 billion, a PE ratio of 54.48, a price-to-earnings-growth ratio of 3.91 and a beta of 1.12.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Thursday, January 24th. The medical equipment provider reported $2.96 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.11). The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.05 billion. Intuitive Surgical had a net margin of 30.29% and a return on equity of 18.11%. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.54 earnings per share. Equities research analysts anticipate that Intuitive Surgical will post 10.07 EPS for the current year.

In related news, VP Marshall Mohr sold 7,500 shares of the stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $525.00, for a total transaction of $3,937,500.00. Following the completion of the transaction, the vice president now directly owns 17,059 shares in the company, valued at $8,955,975. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Salvatore Brogna sold 2,090 shares of the firm’s 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 transaction, the chief operating officer now owns 2,049 shares of the company’s stock, valued at $1,110,312.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,512 shares of company stock worth $35,318,293. 2.20% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of ISRG. Laurel Wealth Advisors LLC bought a new position in shares of Intuitive Surgical during the 4th quarter worth approximately $32,000. Athena Capital Advisors LLC bought a new position in shares of Intuitive Surgical during the 4th quarter worth approximately $33,000. Financial Advantage Inc. bought a new position in shares of Intuitive Surgical during the 4th quarter worth approximately $36,000. Moody National Bank Trust Division bought a new position in shares of Intuitive Surgical during the 4th quarter worth approximately $38,000. Finally, Exane Derivatives bought a new position in shares of Intuitive Surgical during the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 84.16% 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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