Canaccord Genuity Reaffirms “Buy” Rating for Intuitive Surgical (ISRG)

Intuitive Surgical (NASDAQ:ISRG)‘s stock had its “buy” rating restated by Canaccord Genuity in a research report issued to clients and investors on Monday, The Fly reports. They presently have a $575.00 target price on the medical equipment provider’s stock, down from their previous target price of $610.00. Canaccord Genuity’s price objective suggests a potential upside of 8.89% from the stock’s current price.

A number of other research firms have also issued reports on ISRG. Zacks Investment Research lowered shares of Intuitive Surgical from a “hold” rating to a “sell” rating in a research note on Thursday, April 11th. Cantor Fitzgerald set a $620.00 price target on shares of Intuitive Surgical and gave the stock a “buy” rating in a research note on Thursday, April 4th. Deutsche Bank assumed coverage on shares of Intuitive Surgical in a research note on Monday, April 1st. They issued a “buy” rating and a $630.00 price target for the company. Raymond James upped their price target on shares of Intuitive Surgical from $600.00 to $630.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. Finally, BidaskClub lowered shares of Intuitive Surgical from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $577.12.

Intuitive Surgical stock opened at $528.06 on Monday. The stock has a market cap of $60.92 billion, a price-to-earnings ratio of 55.64, a PEG ratio of 4.15 and a beta of 1.10. Intuitive Surgical has a 52-week low of $429.04 and a 52-week high of $589.32.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Thursday, April 18th. The medical equipment provider reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.09). The firm had revenue of $974.00 million for the quarter, compared to analyst estimates of $975.27 million. Intuitive Surgical had a net margin of 29.78% and a return on equity of 17.85%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.44 earnings per share. Equities research analysts predict that Intuitive Surgical will post 9.9 earnings per share for the current fiscal year.

In other news, VP Marshall Mohr sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $525.00, for a total transaction of $3,937,500.00. Following the sale, the vice president now owns 17,059 shares in the company, valued at $8,955,975. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Salvatore Brogna sold 2,090 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $551.79, for a total transaction of $1,153,241.10. The disclosure for this sale can be found here. Insiders have sold 42,284 shares of company stock worth $22,205,382 in the last 90 days. 1.70% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. HC Financial Advisors Inc. acquired a new position in Intuitive Surgical in the 3rd quarter valued at approximately $402,000. Martingale Asset Management L P increased its stake in Intuitive Surgical by 19.4% in the 3rd quarter. Martingale Asset Management L P now owns 14,138 shares of the medical equipment provider’s stock valued at $8,116,000 after buying an additional 2,300 shares during the period. Standard Life Aberdeen plc increased its stake in Intuitive Surgical by 5.4% in the 3rd quarter. Standard Life Aberdeen plc now owns 59,067 shares of the medical equipment provider’s stock valued at $33,904,000 after buying an additional 3,008 shares during the period. Kentucky Retirement Systems acquired a new position in Intuitive Surgical in the 3rd quarter valued at approximately $1,207,000. Finally, Nordea Investment Management AB increased its stake in Intuitive Surgical by 4.9% in the 3rd quarter. Nordea Investment Management AB now owns 6,269 shares of the medical equipment provider’s stock valued at $3,599,000 after buying an additional 295 shares during the period. Institutional investors and hedge funds own 84.91% of the company’s stock.

About Intuitive Surgical

Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. Its da Vinci Surgical System transforms the surgeon's natural hand movements outside the body into corresponding micro-movements inside the patient's body. The company's da Vinci Surgical System include surgeon's consoles, patient-side carts, 3-D vision systems, da Vinci skills simulators, da Vinci Xi integrated table motions, and Firefly fluorescence imaging products that enable surgeons to perform various surgical procedures, including gynecologic, urologic, general, cardiothoracic, and head and neck surgical procedures.

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The Fly

Analyst Recommendations for Intuitive Surgical (NASDAQ:ISRG)

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