According to Zacks, “Intuitive Surgical reported impressive second quarter 2016 results. We believe incremental spending on product development and higher investment on expanding the company’s footprint in international markets (particularly in Europe) are prudent moves that will drive long-term growth. Further, growing adoption of the da Vinci system among physicians for general surgery and thoracic procedures is a key growth catalyst. Moreover, the integrated Table Motion product has gained significant traction within a short span of time, which will boost top-line growth. However, management’s guidance for the second half of the year disappointed us. Gross margin is also forecasted to decline in the back half. Moreover, higher spending on product development can weigh on margin in the near term.”
Several other analysts have also issued reports on ISRG. Goldman Sachs Group Inc. lowered shares of Intuitive Surgical from a buy rating to a neutral rating and upped their target price for the stock from $633.00 to $674.00 in a research note on Thursday, June 2nd. They noted that the move was a valuation call. Citigroup Inc. restated a buy rating on shares of Intuitive Surgical in a research report on Thursday, June 2nd. JPMorgan Chase & Co. restated a buy rating on shares of Intuitive Surgical in a research report on Thursday, June 2nd. Canaccord Genuity restated a buy rating and set a $700.00 price target on shares of Intuitive Surgical in a research report on Tuesday, June 7th. Finally, Bank of America Corp. restated a buy rating on shares of Intuitive Surgical in a research report on Monday, June 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $701.42.
Intuitive Surgical (NASDAQ:ISRG) opened at 710.22 on Tuesday. The company has a market capitalization of $27.34 billion, a price-to-earnings ratio of 40.31 and a beta of 0.73. Intuitive Surgical has a 12-month low of $447.00 and a 12-month high of $720.01. The firm has a 50-day moving average of $690.19 and a 200 day moving average of $649.90.
Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Tuesday, July 19th. The company reported $5.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.97 by $0.65. Intuitive Surgical had a net margin of 26.80% and a return on equity of 15.25%. The firm earned $670 million during the quarter, compared to analyst estimates of $640.69 million. During the same quarter in the prior year, the business posted $4.57 EPS. Analysts expect that Intuitive Surgical will post $21.30 EPS for the current fiscal year.
In other news, CFO Marshall Mohr sold 5,000 shares of the stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $684.09, for a total value of $3,420,450.00. Following the sale, the chief financial officer now directly owns 6,725 shares of the company’s stock, valued at $4,600,505.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alan J. Levy sold 3,188 shares of the stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $694.11, for a total transaction of $2,212,822.68. Following the completion of the sale, the director now directly owns 5,401 shares in the company, valued at $3,748,888.11. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the company. Forte Capital LLC ADV increased its stake in shares of Intuitive Surgical by 0.3% in the first quarter. Forte Capital LLC ADV now owns 1,489 shares of the company’s stock worth $895,000 after buying an additional 5 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Intuitive Surgical by 0.5% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,198 shares of the company’s stock worth $792,000 after buying an additional 6 shares in the last quarter. Cleararc Capital Inc. increased its stake in shares of Intuitive Surgical by 0.7% in the second quarter. Cleararc Capital Inc. now owns 917 shares of the company’s stock worth $607,000 after buying an additional 6 shares in the last quarter. Glenmede Trust Co. NA increased its stake in shares of Intuitive Surgical by 3.0% in the second quarter. Glenmede Trust Co. NA now owns 275 shares of the company’s stock worth $181,000 after buying an additional 8 shares in the last quarter. Finally, IFP Advisors Inc increased its stake in shares of Intuitive Surgical by 3.3% in the first quarter. IFP Advisors Inc now owns 284 shares of the company’s stock worth $171,000 after buying an additional 9 shares in the last quarter. 91.90% of the stock is currently 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Intuitive Surgical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuitive Surgical Inc. and related companies with MarketBeat.com's FREE daily email newsletter.