ISRG stock – Zacks Investment Research Upgrades Intuitive Surgical (NASDAQ:ISRG) to “Hold”
Intuitive Surgical (NASDAQ:ISRG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports. The firm presently has a $760.00 price target on the medical equipment provider’s stock. Zacks Investment Research’s target price indicates a potential upside of 5.82% from the company’s current price.
According to Zacks, “Intuitive Surgical witnessed growth in da Vinci procedure volume in the fourth quarter of 2020. Expansion in operating margin is a positive. Further, despite the COVID-19 pandemic induced challenging environment, the company’s core businesses exhibited stability, thereby reflecting healthy operational health. The company’s Extended Use Program was utilized across numerous da Vinci surgeries during the fourth quarter. Shares of the company outperformed the industry in a year’s time. Intuitive Surgical ended the fourth quarter on a solid note. However, the company witnessed weak performance in its Systems segment in the quarter under review. It also saw contraction in gross margin in the fourth quarter. Intense competition in the global MedTech space remains a concern.”
Several other brokerages have also recently weighed in on ISRG. Raymond James raised their price objective on Intuitive Surgical from $800.00 to $865.00 and gave the company an “outperform” rating in a report on Friday, January 22nd. Oppenheimer raised their target price on shares of Intuitive Surgical from $365.00 to $410.00 and gave the company an “underperform” rating in a research note on Friday, January 22nd. They noted that the move was a valuation call. Wells Fargo & Company raised their target price on shares of Intuitive Surgical from $841.00 to $879.00 and gave the company an “overweight” rating in a research note on Friday, January 22nd. Piper Sandler raised their target price on shares of Intuitive Surgical from $680.00 to $730.00 and gave the company a “neutral” rating in a research note on Friday, January 22nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Intuitive Surgical from $825.00 to $840.00 and gave the company an “overweight” rating in a research note on Friday, January 22nd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. Intuitive Surgical presently has a consensus rating of “Hold” and an average price target of $738.12.
ISRG stock traded down $5.74 during trading hours on Tuesday, reaching $718.21. 1,196 shares of the stock were exchanged, compared to its average volume of 604,160. The firm’s 50-day moving average is $741.71 and its 200-day moving average is $744.70. The company has a market cap of $85.02 billion, a price-to-earnings ratio of 81.80, a PEG ratio of 8.96 and a beta of 0.98. Intuitive Surgical has a 12 month low of $450.00 and a 12 month high of $826.81.
Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Wednesday, January 20th. The medical equipment provider reported $3.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.12 by $0.46. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Intuitive Surgical had a return on equity of 12.08% and a net margin of 24.45%. During the same quarter in the prior year, the company earned $3.48 EPS. Equities analysts expect that Intuitive Surgical will post 8.02 earnings per share for the current year.
In other Intuitive Surgical news, SVP Jamie Samath sold 215 shares of the company’s stock in a transaction dated Tuesday, March 2nd. The shares were sold at an average price of $760.00, for a total value of $163,400.00. Following the completion of the sale, the senior vice president now directly owns 672 shares of the company’s stock, valued at approximately $510,720. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan J. Levy sold 2,500 shares of the company’s stock in a transaction dated Tuesday, January 26th. The stock was sold at an average price of $754.48, for a total transaction of $1,886,200.00. Following the completion of the sale, the director now directly owns 10,339 shares of the company’s stock, valued at $7,800,568.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,108 shares of company stock valued at $22,162,955. 1.60% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in ISRG. Vantage Consulting Group Inc bought a new position in shares of Intuitive Surgical during the 4th quarter valued at approximately $25,000. Alpha Paradigm Partners LLC purchased a new stake in shares of Intuitive Surgical during the 4th quarter valued at approximately $31,000. Fortis Group Advisors LLC purchased a new stake in shares of Intuitive Surgical during the 3rd quarter valued at approximately $34,000. Carolina Wealth Advisors LLC purchased a new stake in shares of Intuitive Surgical during the 4th quarter valued at approximately $37,000. Finally, Prestige Wealth Management Group LLC lifted its stake in shares of Intuitive Surgical by 136.8% during the 4th quarter. Prestige Wealth Management Group LLC now owns 45 shares of the medical equipment provider’s stock valued at $37,000 after buying an additional 26 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.
About Intuitive Surgical
Intuitive Surgical, Inc, together with its subsidiaries, designs, develops, manufactures, and markets da Vinci surgical systems, and related instruments and accessories in the United States and internationally. The company’s da Vinci Surgical System include surgeon’s consoles, patient-side carts, 3-D HD vision systems, 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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