Redburn Partners Begins Coverage on Intuitive Surgical (NASDAQ:ISRG)

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Stock analysts at Redburn Partners began coverage on shares of Intuitive Surgical (NASDAQ:ISRG) in a report issued on Friday, The Fly reports. The firm set a “buy” rating on the medical equipment provider’s stock.

A number of other equities research analysts also recently weighed in on the company. UBS Group set a $560.00 target price on Intuitive Surgical and gave the company a “hold” rating in a report on Friday, July 19th. Northland Securities set a $375.00 target price on Intuitive Surgical and gave the company a “sell” rating in a report on Friday, July 19th. Morgan Stanley set a $620.00 target price on Intuitive Surgical and gave the company a “buy” rating in a report on Friday, July 19th. Canaccord Genuity reaffirmed a “buy” rating and issued a $610.00 target price (up previously from $575.00) on shares of Intuitive Surgical in a report on Friday, July 19th. Finally, ValuEngine downgraded Intuitive Surgical from a “hold” rating to a “sell” rating in a report on Friday, July 12th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. Intuitive Surgical currently has a consensus rating of “Hold” and an average target price of $575.33.

NASDAQ:ISRG traded up $0.10 during trading hours on Friday, reaching $523.22. 275,367 shares of the company were exchanged, compared to its average volume of 723,429. The company has a market capitalization of $60.46 billion, a P/E ratio of 55.13, a P/E/G ratio of 3.89 and a beta of 1.13. Intuitive Surgical has a 1-year low of $430.24 and a 1-year high of $589.32. The business has a 50 day moving average of $507.86 and a 200 day moving average of $522.04.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Thursday, July 18th. The medical equipment provider reported $3.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.23 by $1.02. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.03 billion. Intuitive Surgical had a return on equity of 17.35% and a net margin of 29.95%. The company’s revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.76 EPS. On average, equities research analysts forecast that Intuitive Surgical will post 10.12 EPS for the current year.

In other news, EVP Curet Myriam sold 4,974 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $532.14, for a total value of $2,646,864.36. Following the completion of the transaction, the executive vice president now directly owns 3,851 shares in the company, valued at approximately $2,049,271.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Salvatore Brogna sold 1,171 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $505.23, for a total value of $591,624.33. Following the completion of the transaction, the chief operating officer now owns 5,933 shares of the company’s stock, valued at $2,997,529.59. The disclosure for this sale can be found here. Insiders sold a total of 25,869 shares of company stock valued at $13,664,252 over the last quarter. 1.70% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Flagship Harbor Advisors LLC raised its position in Intuitive Surgical by 1.8% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,073 shares of the medical equipment provider’s stock worth $562,000 after purchasing an additional 19 shares during the last quarter. Compagnie Lombard Odier SCmA raised its position in Intuitive Surgical by 3.0% during the 2nd quarter. Compagnie Lombard Odier SCmA now owns 690 shares of the medical equipment provider’s stock worth $362,000 after purchasing an additional 20 shares during the last quarter. Wetherby Asset Management Inc. raised its position in Intuitive Surgical by 1.3% during the 1st quarter. Wetherby Asset Management Inc. now owns 1,684 shares of the medical equipment provider’s stock worth $961,000 after purchasing an additional 21 shares during the last quarter. Lodestar Investment Counsel LLC IL raised its position in Intuitive Surgical by 0.6% during the 2nd quarter. Lodestar Investment Counsel LLC IL now owns 3,549 shares of the medical equipment provider’s stock worth $1,862,000 after purchasing an additional 21 shares during the last quarter. Finally, Mirova raised its position in Intuitive Surgical by 10.6% during the 2nd quarter. Mirova now owns 220 shares of the medical equipment provider’s stock worth $115,000 after purchasing an additional 21 shares during the last quarter. Institutional investors own 85.97% of the company’s stock.

About Intuitive Surgical

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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