Intuitive Surgical (ISRG) Trading 6.2% Higher Following Analyst Upgrade

Intuitive Surgical, Inc. (NASDAQ:ISRG)’s share price traded up 6.2% during trading on Wednesday after Piper Jaffray Companies raised their price target on the stock from $613.00 to $625.00. Piper Jaffray Companies currently has an overweight rating on the stock. Intuitive Surgical traded as high as $526.33 and last traded at $521.18. 1,487,112 shares were traded during trading, an increase of 84% from the average session volume of 809,726 shares. The stock had previously closed at $490.82.

Several other equities research analysts have also issued reports on ISRG. BTIG Research reaffirmed a “hold” rating on shares of Intuitive Surgical in a research note on Sunday, October 21st. Royal Bank of Canada reaffirmed a “hold” rating and issued a $560.00 price objective on shares of Intuitive Surgical in a research note on Friday, October 19th. Raymond James raised their price objective on Intuitive Surgical from $620.00 to $630.00 and gave the company an “outperform” rating in a research note on Friday, October 19th. Canaccord Genuity raised 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 note on Friday, October 19th. They noted that the move was a valuation call. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $620.00 price objective on shares of Intuitive Surgical in a research note on Friday, October 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $554.64.

In other news, Director Mark J. Rubash sold 150 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $543.66, for a total value of $81,549.00. Following the sale, the director now directly owns 4,116 shares in the company, valued at $2,237,704.56. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Amal M. Johnson sold 1,000 shares of the stock in a transaction that occurred on Tuesday, October 23rd. The stock was sold at an average price of $500.00, for a total value of $500,000.00. Following the completion of the sale, the director now owns 9,874 shares in the company, valued at $4,937,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,503 shares of company stock worth $38,771,530. Company insiders own 2.20% of the company’s stock.



Several hedge funds and other institutional investors have recently modified their holdings of ISRG. FMR LLC increased its holdings in Intuitive Surgical by 19.2% during 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. Morgan Stanley increased its holdings in Intuitive Surgical by 88.1% during the 2nd quarter. Morgan Stanley now owns 1,301,299 shares of the medical equipment provider’s stock worth $622,646,000 after purchasing an additional 609,465 shares during the period. Cornerstone Wealth Management LLC purchased a new position in Intuitive Surgical during the 2nd quarter worth $341,000. Jennison Associates LLC increased its holdings in Intuitive Surgical by 5,005.3% during the 2nd quarter. Jennison Associates LLC now owns 158,825 shares of the medical equipment provider’s stock worth $75,995,000 after purchasing an additional 155,714 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. increased its holdings in Intuitive Surgical by 87.4% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 218,602 shares of the medical equipment provider’s stock worth $104,597,000 after purchasing an additional 101,983 shares during the period. Hedge funds and other institutional investors own 84.14% of the company’s stock.

The firm has a market capitalization of $55.60 billion, a P/E ratio of 72.49, a price-to-earnings-growth ratio of 3.21 and a beta of 0.89.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Thursday, October 18th. The medical equipment provider reported $2.83 EPS for the quarter, topping the consensus estimate of $2.66 by $0.17. The company had revenue of $920.90 million for the quarter, compared to the consensus estimate of $916.22 million. Intuitive Surgical had a return on equity of 18.79% and a net margin of 22.31%. Intuitive Surgical’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period last year, the business posted $2.77 EPS. As a group, analysts expect that Intuitive Surgical, Inc. will post 9.52 earnings per share for the current fiscal year.

About Intuitive Surgical (NASDAQ:ISRG)

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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