Intuitive Surgical (NASDAQ:ISRG) Shares Gap Up After Analyst Upgrade

Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) gapped up before the market opened on Monday after Raymond James raised their price target on the stock from $610.00 to $625.00. The stock had previously closed at $585.50, but opened at $566.25. Raymond James currently has a buy rating on the stock. Intuitive Surgical shares last traded at $562.59, with a volume of 494,177 shares.

ISRG has been the topic of several other reports. Canaccord Genuity restated a “buy” rating and set a $610.00 price objective (up from $575.00) on shares of Intuitive Surgical in a report on Friday, July 19th. UBS Group lifted their price objective on Intuitive Surgical from $560.00 to $590.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Cantor Fitzgerald set a $620.00 price objective on Intuitive Surgical and gave the stock a “buy” rating in a report on Friday, July 19th. ValuEngine downgraded Intuitive Surgical from a “hold” rating to a “sell” rating in a report on Friday, July 12th. Finally, Piper Jaffray Companies boosted their price target on Intuitive Surgical from $610.00 to $633.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $583.00.

In other news, VP Marshall Mohr sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $526.11, for a total value of $7,891,650.00. Following the completion of the sale, the vice president now directly owns 20,135 shares in the company, valued at approximately $10,593,224.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jamie Samath sold 130 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $503.50, for a total value of $65,455.00. Following the completion of the sale, the vice president now owns 219 shares of the company’s stock, valued at $110,266.50. The disclosure for this sale can be found here. Insiders sold a total of 16,516 shares of company stock valued at $8,654,763 over the last quarter. Company insiders own 1.70% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Manchester Financial Inc. bought a new position in Intuitive Surgical during the 2nd quarter worth $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in Intuitive Surgical by 733.3% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 75 shares of the medical equipment provider’s stock worth $39,000 after buying an additional 66 shares during the last quarter. North Star Investment Management Corp. bought a new position in Intuitive Surgical during the 3rd quarter worth $49,000. FNY Investment Advisers LLC bought a new position in Intuitive Surgical during the 2nd quarter worth $47,000. Finally, Motco bought a new position in Intuitive Surgical during the 2nd quarter worth $51,000. Hedge funds and other institutional investors own 85.88% of the company’s stock.

The stock has a market capitalization of $65.26 billion, a P/E ratio of 56.45, a P/E/G ratio of 4.16 and a beta of 1.13. The stock has a 50 day moving average of $525.75 and a 200 day moving average of $517.02.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Thursday, October 17th. The medical equipment provider reported $3.43 EPS for the quarter, topping the Zacks’ consensus estimate of $2.99 by $0.44. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.06 billion. Intuitive Surgical had a return on equity of 18.26% and a net margin of 30.94%. The firm’s revenue was up 22.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.83 EPS. As a group, sell-side analysts anticipate that Intuitive Surgical, Inc. will post 10.12 EPS 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. 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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