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 research note released on Wednesday morning.

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 research analysts have also issued research reports about the stock. Canaccord Genuity reiterated a buy rating and set a $870.00 price objective (up previously from $800.00) on shares of Intuitive Surgical in a research note on Wednesday, April 19th. Stifel Nicolaus raised their price objective on shares of Intuitive Surgical from $800.00 to $850.00 and gave the company a buy rating in a research note on Wednesday, April 19th. Goldman Sachs Group Inc began coverage on shares of Intuitive Surgical in a research note on Tuesday, May 16th. They set a buy rating and a $1,000.00 price objective on the stock. Bank of America Corp reiterated a buy rating and set a $1,000.00 price objective on shares of Intuitive Surgical in a research note on Thursday, June 1st. Finally, Evercore ISI lifted their price target on shares of Intuitive Surgical from $750.00 to $785.00 and gave the stock an in-line rating in a research report on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. Intuitive Surgical presently has an average rating of Buy and a consensus price target of $856.69.

Shares of Intuitive Surgical (NASDAQ ISRG) traded down 0.23% during midday trading on Wednesday, hitting $929.85. The stock had a trading volume of 738,351,612 shares. Intuitive Surgical has a one year low of $610.71 and a one year high of $937.15. The company has a market cap of $34.26 billion, a P/E ratio of 46.87 and a beta of 0.55. The firm has a 50 day moving average of $865.26 and a 200-day moving average of $739.86.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings data 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. Intuitive Surgical had a net margin of 27.21% and a return on equity of 14.24%. The business had revenue of $674.20 million for the quarter, compared to analyst estimates of $664.72 million. During the same quarter last year, the business earned $4.42 earnings per share. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, analysts forecast that Intuitive Surgical will post $23.64 earnings per share for the current fiscal year.

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In related news, SVP Curet Myriam sold 2,644 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $921.26, for a total value of $2,435,811.44. Following the completion of the transaction, the senior vice president now owns 1,428 shares of the company’s stock, valued at approximately $1,315,559.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jamie Samath sold 4,268 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $750.00, for a total transaction of $3,201,000.00. Following the completion of the transaction, the vice president now directly owns 896 shares of the company’s stock, valued at approximately $672,000. The disclosure for this sale can be found here. Insiders sold a total of 63,074 shares of company stock valued at $51,323,532 in the last ninety days. Company insiders own 3.10% of the company’s stock.

A number of institutional investors have recently bought and sold shares of ISRG. Guardian Life Insurance Co. of America raised its position in Intuitive Surgical by 2.2% in the first quarter. Guardian Life Insurance Co. of America now owns 142 shares of the medical equipment provider’s stock worth $109,000 after buying an additional 3 shares in the last quarter. Acropolis Investment Management LLC bought a new stake in shares of Intuitive Surgical during the first quarter worth about $115,000. Parallel Advisors LLC raised its stake in shares of Intuitive Surgical by 10.1% in the first quarter. Parallel Advisors LLC now owns 153 shares of the medical equipment provider’s stock worth $129,000 after buying an additional 14 shares during the period. Huntington National Bank raised its stake in shares of 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. Finally, Bessemer Group Inc. raised its stake in shares of 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. 91.16% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Company Profile

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:ISRG”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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