BidaskClub lowered shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) from a buy rating to a hold rating in a research report report published on Tuesday, August 1st.
ISRG has been the topic of several other reports. Cantor Fitzgerald began coverage on Intuitive Surgical in a research report on Thursday, June 29th. They issued a neutral rating and a $1,000.00 target price on the stock. Morgan Stanley reaffirmed an overweight rating and issued a $1,070.00 target price (up from $950.00) on shares of Intuitive Surgical in a research report on Tuesday, July 25th. Canaccord Genuity reissued a hold rating and issued a $1,000.00 price target (up previously from $870.00) on shares of Intuitive Surgical in a research note on Wednesday, July 26th. Barclays PLC raised their target price on Intuitive Surgical from $870.00 to $1,000.00 and gave the company an overweight rating in a research note on Friday, July 21st. They noted that the move was a valuation call. Finally, Royal Bank Of Canada reaffirmed a hold rating and set a $1,000.00 target price on shares of Intuitive Surgical in a research note on Friday, July 21st. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $980.61.
Intuitive Surgical (NASDAQ:ISRG) opened at 984.31 on Tuesday. The stock’s 50 day moving average is $946.69 and its 200-day moving average is $844.19. The stock has a market capitalization of $36.57 billion, a price-to-earnings ratio of 47.15 and a beta of 0.39. Intuitive Surgical has a 12 month low of $610.71 and a 12 month high of $993.00. Shares of Intuitive Surgical are set to split on Thursday, August 31st. The 3-1 split was announced on Friday, August 11th. The newly created shares will be payable to shareholders after the closing bell on Wednesday, August 30th.
Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Thursday, July 20th. The medical equipment provider reported $5.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $5.79 by $0.16. Intuitive Surgical had a return on equity of 15.99% and a net margin of 28.44%. The firm had revenue of $756.20 million for the quarter, compared to analyst estimates of $724.51 million. During the same period last year, the company earned $5.62 earnings per share. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities research analysts expect that Intuitive Surgical will post $23.92 earnings per share for the current year.
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In other news, CEO Gary S. Guthart sold 17,975 shares of the stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $937.27, for a total transaction of $16,847,428.25. Following the transaction, the chief executive officer now owns 101,798 shares of the company’s stock, valued at approximately $95,412,211.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Salvatore Brogna sold 1,306 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $915.09, for a total value of $1,195,107.54. Following the transaction, the executive vice president now directly owns 977 shares in the company, valued at approximately $894,042.93. The disclosure for this sale can be found here. Insiders have sold a total of 34,065 shares of company stock valued at $31,659,090 over the last ninety days. Company insiders own 2.50% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in ISRG. UBS Asset Management Americas Inc. raised its stake in Intuitive Surgical by 19.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 105,606 shares of the medical equipment provider’s stock worth $66,974,000 after buying an additional 17,479 shares during the period. Macquarie Group Ltd. raised its stake in Intuitive Surgical by 11.7% in the fourth quarter. Macquarie Group Ltd. now owns 19,900 shares of the medical equipment provider’s stock worth $12,620,000 after buying an additional 2,090 shares during the period. Triangle Securities Wealth Management acquired a new stake in Intuitive Surgical during the first quarter worth about $238,000. Chevy Chase Trust Holdings Inc. raised its stake in Intuitive Surgical by 6.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 56,232 shares of the medical equipment provider’s stock worth $43,100,000 after buying an additional 3,416 shares during the period. Finally, Rathbone Brothers plc raised its stake in Intuitive Surgical by 69.8% in the first quarter. Rathbone Brothers plc now owns 3,040 shares of the medical equipment provider’s stock worth $2,330,000 after buying an additional 1,250 shares during the period. 96.08% of the stock is currently owned by hedge funds and other institutional investors.
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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