Latest Stocks: Intuitive Surgical, Inc. (ISRG) Upgraded to “Buy” at Zacks Investment Research

Latest Stocks: Intuitive Surgical, Inc. (ISRG) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) from a hold rating to a buy rating in a research note released on Wednesday. They currently have $1,024.00 price target on the medical equipment provider’s stock.

According to Zacks, “Intuitive Surgical reported stellar first-quarter 2017 results, crushing the Zacks Consensus Estimate on both the counts on the growing adoption of the da Vinci system (a surgical platform) among physicians and overall growth in global procedures. The company’s CE Mark approval for da Vinci X in the recent past is a key catalyst. A positive outlook for the coming quarters raises our confidence in the stock. Over the past three months, Intuitive Surgical outperformed the broader industry in terms of price performance. Further, incremental spending on product development and higher investments in international markets are prudent moves that are likely to drive long-term growth. The company is also expected to enhance its organizational capabilities and gain prominence in the markets of Europe and Asia. However, the da Vinci Surgical System has a long sale and purchase order cycle which might act against the company.”

Other equities research analysts also recently issued research reports about the company. Canaccord Genuity reissued a buy rating and issued a $870.00 target price (up previously from $800.00) on shares of Intuitive Surgical in a report on Wednesday, April 19th. Stifel Nicolaus raised their target price on Intuitive Surgical from $800.00 to $850.00 and gave the company a buy rating in a report on Wednesday, April 19th. Goldman Sachs Group Inc assumed coverage on Intuitive Surgical in a report on Tuesday, May 16th. They issued a buy rating and a $1,000.00 target price for the company. Wells Fargo & Co reissued an outperform rating and issued a $1,000.00 target price on shares of Intuitive Surgical in a report on Thursday, May 25th. Finally, Evercore ISI raised their target price on Intuitive Surgical from $750.00 to $785.00 and gave the company an in-line rating in a report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $856.00.

Other equities research analysts also recently issued research reports about the company. Canaccord Genuity reissued a buy rating and issued a $870.00 target price (up previously from $800.00) on shares of Intuitive Surgical in a report on Wednesday, April 19th. Stifel Nicolaus raised their target price on Intuitive Surgical from $800.00 to $850.00 and gave the company a buy rating in a report on Wednesday, April 19th. Goldman Sachs Group Inc assumed coverage on Intuitive Surgical in a report on Tuesday, May 16th. They issued a buy rating and a $1,000.00 target price for the company. Wells Fargo & Co reissued an outperform rating and issued a $1,000.00 target price on shares of Intuitive Surgical in a report on Thursday, May 25th. Finally, Evercore ISI raised their target price on Intuitive Surgical from $750.00 to $785.00 and gave the company an in-line rating in a report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $856.00. Shares of Intuitive Surgical (NASDAQ:ISRG) opened at 922.01 on Wednesday. The stock has a market cap of $33.97 billion, a price-to-earnings ratio of 46.48 and a beta of 0.55. The company has a 50-day moving average of $855.87 and a 200 day moving average of $736.45. Intuitive Surgical has a one year low of $610.71 and a one year high of $927.50.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Tuesday, April 18th. The medical equipment provider reported $5.09 EPS for the quarter, beating analysts’ consensus estimates of $3.97 by $1.12. Intuitive Surgical had a return on equity of 14.24% and a net margin of 27.21%. The company had revenue of $674.20 million during the quarter, compared to the consensus estimate of $664.72 million. During the same quarter last year, the company earned $4.42 earnings per share. Intuitive Surgical’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, equities analysts forecast that Intuitive Surgical will post $23.64 earnings per share for the current fiscal year. In related news, Director Amal M. Johnson sold 1,000 shares of Intuitive Surgical stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $917.27, for a total transaction of $917,270.00. Following the completion of the sale, the director now owns 3,787 shares in the company, valued at approximately $3,473,701.49. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gary S. Guthart sold 18,775 shares of Intuitive Surgical stock in a transaction dated Friday, April 21st. The stock was sold at an average price of $810.33, for a total value of $15,213,945.75. Following the sale, the chief executive officer now owns 95,573 shares of the company’s stock, valued at approximately $77,445,669.09. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,484 shares of company stock valued at $47,094,949. 3.10% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Lombard Odier Asset Management Europe Ltd bought a new stake in Intuitive Surgical during the third quarter worth approximately $362,000. Dai Ichi Life Holdings Inc. boosted its stake in Intuitive Surgical by 1.0% in the third quarter. Dai Ichi Life Holdings Inc. now owns 9,159 shares of the medical equipment provider’s stock worth $6,639,000 after buying an additional 94 shares in the last quarter. Gerstein Fisher boosted its stake in Intuitive Surgical by 0.4% in the third quarter. Gerstein Fisher now owns 1,119 shares of the medical equipment provider’s stock worth $811,000 after buying an additional 4 shares in the last quarter. Picton Mahoney Asset Management boosted its stake in Intuitive Surgical by 294.3% in the third quarter. Picton Mahoney Asset Management now owns 12,224 shares of the medical equipment provider’s stock worth $8,861,000 after buying an additional 9,124 shares in the last quarter. Finally, Xact Kapitalforvaltning AB bought a new stake in Intuitive Surgical during the third quarter worth approximately $4,375,000. Hedge funds and other institutional investors own 91.16% of the company’s stock. Intuitive Surgical Company Profile

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