Intuitive Surgical, Inc. (ISRG) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) from a buy rating to a hold rating in a report issued on Thursday.

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. Furthermore, 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”

A number of other brokerages have also commented on ISRG. Stifel Nicolaus upped their target price on Intuitive Surgical from $800.00 to $850.00 and gave the company a buy rating in a research report on Wednesday. BTIG Research reiterated a hold rating on shares of Intuitive Surgical in a research report on Thursday. Evercore ISI upped their target price on Intuitive Surgical from $750.00 to $785.00 and gave the company an in-line rating in a research report on Wednesday. Royal Bank of Canada upped their target price on Intuitive Surgical from $720.00 to $770.00 and gave the company a sector perform rating in a research report on Monday. Finally, Wedbush upped their target price on Intuitive Surgical from $800.00 to $835.00 and gave the company an outperform rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. Intuitive Surgical has a consensus rating of Buy and an average target price of $771.97.

Shares of Intuitive Surgical (NASDAQ:ISRG) traded down 0.40% on Thursday, hitting $811.22. 302,598 shares of the company traded hands. Intuitive Surgical has a 1-year low of $610.71 and a 1-year high of $817.20. The firm’s 50-day moving average is $756.42 and its 200 day moving average is $694.18. The firm has a market capitalization of $31.46 billion, a P/E ratio of 43.31 and a beta of 0.55.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Tuesday, April 18th. The medical equipment provider reported $5.09 EPS for the quarter, beating the Zacks’ consensus estimate of $3.97 by $1.12. The firm had revenue of $674.20 million for the quarter, compared to analyst estimates of $664.72 million. Intuitive Surgical had a return on equity of 14.24% and a net margin of 27.21%. Intuitive Surgical’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.42 earnings per share. On average, analysts anticipate that Intuitive Surgical will post $23.49 earnings per share for the current fiscal year.

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In other Intuitive Surgical news, SVP Mark J. Meltzer sold 8,750 shares of the company’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $724.82, for a total value of $6,342,175.00. Following the sale, the senior vice president now owns 2,274 shares in the company, valued at approximately $1,648,240.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Lonnie M. Smith sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $684.38, for a total value of $684,380.00. Following the completion of the sale, the director now owns 234,971 shares in the company, valued at approximately $160,809,452.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,118 shares of company stock worth $25,064,571. Insiders own 3.10% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acropolis Investment Management LLC purchased a new stake in Intuitive Surgical during the first quarter worth $115,000. Bessemer Group Inc. increased its stake in Intuitive Surgical by 96.0% in the fourth quarter. Bessemer Group Inc. now owns 196 shares of the medical equipment provider’s stock worth $124,000 after buying an additional 96 shares during the period. Huntington National Bank increased its stake in Intuitive Surgical by 14.1% in the first quarter. Huntington National Bank now owns 170 shares of the medical equipment provider’s stock worth $130,000 after buying an additional 21 shares during the period. Stephens Inc. AR increased its stake in Intuitive Surgical by 77.1% in the third quarter. Stephens Inc. AR now owns 255 shares of the medical equipment provider’s stock worth $185,000 after buying an additional 111 shares during the period. Finally, Koch Industries Inc. purchased a new stake in Intuitive Surgical during the fourth quarter worth $205,000. Hedge funds and other institutional investors own 91.16% of the company’s stock.

About Intuitive Surgical

Intuitive Surgical, Inc (Intuitive) designs, manufactures and markets da Vinci Surgical Systems, and related instruments and accessories. The Company’s da Vinci Surgical System consists of a surgeon’s console, a patient-side cart and a vision system. The da Vinci Surgical System translates a surgeon’s hand movements, which are performed on instrument controls at a console, into corresponding micro-movements of instruments positioned inside the patient through small incisions or ports.

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