Morgan Stanley set a $620.00 target price on Intuitive Surgical (NASDAQ:ISRG) in a report released on Friday morning, TipRanks reports. The brokerage currently has a buy rating on the medical equipment provider’s stock.
ISRG has been the subject of a number of other research reports. BTIG Research reaffirmed a hold rating on shares of Intuitive Surgical in a research note on Sunday, April 21st. Deutsche Bank assumed coverage on Intuitive Surgical in a research note on Monday, April 1st. They issued a buy rating and a $630.00 price target for the company. Citigroup raised China Petroleum & Chemical from a neutral rating to a buy rating in a research note on Tuesday, May 14th. BidaskClub lowered Xencor from a sell rating to a strong sell rating in a research note on Tuesday, June 11th. Finally, Piper Jaffray Companies set a $175.00 price target on Wayfair and gave the stock a buy rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. Intuitive Surgical has a consensus rating of Hold and an average target price of $579.92.
Shares of NASDAQ:ISRG traded up $2.29 during trading on Friday, reaching $537.79. 613,045 shares of the company traded hands, compared to its average volume of 757,473. The stock has a market capitalization of $61.41 billion, a price-to-earnings ratio of 56.67, a price-to-earnings-growth ratio of 4.61 and a beta of 1.08. Intuitive Surgical has a 52-week low of $430.24 and a 52-week high of $589.32. The firm’s fifty day simple moving average is $519.35.
Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Thursday, July 18th. The medical equipment provider reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $1.02. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.03 billion. Intuitive Surgical had a return on equity of 17.54% and a net margin of 29.95%. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.76 earnings per share. As a group, equities analysts expect that Intuitive Surgical will post 9.4 earnings per share for the current fiscal year.
In other Intuitive Surgical news, Director Lonnie M. Smith sold 227 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $493.39, for a total transaction of $111,999.53. Following the completion of the transaction, the director now owns 359,696 shares of the company’s stock, valued at $177,470,409.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gary S. Guthart sold 22,636 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $501.48, for a total value of $11,351,501.28. Following the transaction, the chief executive officer now directly owns 386,866 shares of the company’s stock, valued at approximately $194,005,561.68. The disclosure for this sale can be found here. Insiders have sold 24,424 shares of company stock valued at $12,253,106 in the last three months. Insiders own 1.70% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in Intuitive Surgical by 1.2% during the first quarter. BlackRock Inc. now owns 8,424,675 shares of the medical equipment provider’s stock valued at $4,806,951,000 after buying an additional 96,860 shares during the period. FMR LLC lifted its position in Intuitive Surgical by 7.3% during the first quarter. FMR LLC now owns 6,807,862 shares of the medical equipment provider’s stock valued at $3,884,429,000 after buying an additional 462,957 shares during the period. Jennison Associates LLC lifted its position in Intuitive Surgical by 37.4% during the first quarter. Jennison Associates LLC now owns 2,679,394 shares of the medical equipment provider’s stock valued at $1,528,809,000 after buying an additional 729,710 shares during the period. Northern Trust Corp lifted its position in Intuitive Surgical by 1.1% during the first quarter. Northern Trust Corp now owns 1,342,116 shares of the medical equipment provider’s stock valued at $765,784,000 after buying an additional 14,460 shares during the period. Finally, Norges Bank purchased a new position in Intuitive Surgical during the fourth quarter valued at $524,111,000. 85.58% of the stock is owned by institutional investors and hedge funds.
Intuitive Surgical Company Profile
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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