Intuitive Surgical’s (ISRG) “Buy” Rating Reaffirmed at Citigroup

Intuitive Surgical (NASDAQ:ISRG)‘s stock had its “buy” rating reaffirmed by research analysts at Citigroup in a research report issued on Monday, July 24th. They presently have a $359.34 price objective on the medical equipment provider’s stock, up from their previous price objective of $305.67. Citigroup’s target price indicates a potential downside of 3.80% from the stock’s previous close.

ISRG has been the subject of a number of other reports. Barclays reiterated a “buy” rating and set a $88.89 target price on shares of Intuitive Surgical in a report on Sunday, March 26th. Leerink Swann restated an “outperform” rating on shares of Intuitive Surgical in a report on Wednesday, July 5th. Wedbush raised their price objective on shares of Intuitive Surgical from $92.78 to $97.22 and gave the stock an “outperform” rating in a report on Monday, April 24th. Morgan Stanley set a $105.56 price objective on shares of Intuitive Surgical and gave the stock an “overweight” rating in a report on Monday, May 22nd. Finally, BidaskClub upgraded shares of Intuitive Surgical from a “buy” rating to a “strong-buy” rating in a report on Friday, June 23rd. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $210.35.

Intuitive Surgical (ISRG) traded down $6.06 during trading on Monday, hitting $373.55. 1,321,500 shares of the stock were exchanged, compared to its average volume of 974,179. The stock has a market capitalization of $42,534.46, a price-to-earnings ratio of 50.24, a P/E/G ratio of 5.27 and a beta of 0.48. Intuitive Surgical has a one year low of $207.94 and a one year high of $405.05.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Thursday, October 19th. The medical equipment provider reported $2.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.99 by $0.78. The company had revenue of $806.10 million during the quarter, compared to analyst estimates of $753.25 million. Intuitive Surgical had a net margin of 30.16% and a return on equity of 18.20%. Intuitive Surgical’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.06 earnings per share. equities research analysts forecast that Intuitive Surgical will post 7.85 EPS for the current year.

In other Intuitive Surgical news, insider Craig H. Barratt sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $381.00, for a total transaction of $2,857,500.00. Following the completion of the transaction, the insider now owns 7,500 shares of the company’s stock, valued at $2,857,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig H. Barratt sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $371.18, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 55,944 shares of company stock valued at $21,432,971 in the last ninety days. Insiders own 2.20% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in ISRG. BlackRock Inc. increased its position in shares of Intuitive Surgical by 2,770.9% during the first quarter. BlackRock Inc. now owns 2,846,621 shares of the medical equipment provider’s stock valued at $2,181,851,000 after acquiring an additional 2,747,465 shares in the last quarter. Edgewood Management LLC increased its position in shares of Intuitive Surgical by 200.7% during the third quarter. Edgewood Management LLC now owns 2,898,113 shares of the medical equipment provider’s stock valued at $1,010,359,000 after acquiring an additional 1,934,382 shares in the last quarter. Koch Industries Inc. increased its position in shares of Intuitive Surgical by 202,917.0% during the second quarter. Koch Industries Inc. now owns 1,388,636 shares of the medical equipment provider’s stock valued at $1,387,000 after acquiring an additional 1,387,952 shares in the last quarter. FMR LLC increased its position in shares of Intuitive Surgical by 19.6% during the second quarter. FMR LLC now owns 2,724,964 shares of the medical equipment provider’s stock valued at $2,548,849,000 after acquiring an additional 447,397 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Intuitive Surgical by 7,931.4% during the second quarter. Janus Henderson Group PLC now owns 412,170 shares of the medical equipment provider’s stock valued at $385,532,000 after acquiring an additional 407,038 shares in the last quarter. 32.80% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Intuitive Surgical (NASDAQ:ISRG)

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