BMO Capital Markets Upgrades Intuitive Surgical (NASDAQ:ISRG) to "Strong-Buy"

Key Points

• BMO Capital Markets upgraded Intuitive Surgical to “Strong-Buy,” while the broader analyst view remains favorable overall with a consensus rating of “Moderate Buy” and an average price target of $569.20.
• The stock was down 0.9% to $411.55, well below its 52-week high of $603.88 and below both its 50-day and 200-day moving averages.
• Recent earnings topped expectations, with Q1 EPS of $2.50 versus $2.08 expected and revenue of $2.77 billion, up 23% year over year.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) was upgraded by stock analysts at BMO Capital Markets to a "strong-buy" rating in a research note issued on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on ISRG. Zacks Research cut shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. The Goldman Sachs Group set a $558.00 target price on Intuitive Surgical in a report on Wednesday, May 27th. BTIG Research restated a "buy" rating and issued a $574.00 price target on shares of Intuitive Surgical in a research note on Wednesday, April 22nd. Bank of America decreased their price target on Intuitive Surgical from $520.00 to $515.00 in a report on Friday, June 12th. Finally, Jefferies Financial Group lowered their price objective on Intuitive Surgical from $560.00 to $515.00 and set a "hold" rating for the company in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $569.20.

Intuitive Surgical Stock Down 0.9%

Shares of NASDAQ:ISRG opened at $411.55 on Wednesday. The firm's 50 day moving average price is $423.04 and its 200 day moving average price is $475.13. The stock has a market cap of $145.75 billion, a price-to-earnings ratio of 49.88, a price-to-earnings-growth ratio of 3.38 and a beta of 1.46. Intuitive Surgical has a fifty-two week low of $396.68 and a fifty-two week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, topping the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The company had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.62 billion. During the same quarter in the previous year, the business posted $1.81 EPS. The firm's revenue was up 23.0% on a year-over-year basis. On average, equities analysts anticipate that Intuitive Surgical will post 8.57 EPS for the current year.

Insider Transactions at Intuitive Surgical

In related news, EVP Gary Loeb sold 400 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total transaction of $169,656.00. Following the completion of the sale, the executive vice president owned 5,720 shares in the company, valued at $2,426,080.80. This represents a 6.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 500 shares of the firm's stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $473.46, for a total transaction of $236,730.00. Following the transaction, the director directly owned 239 shares in the company, valued at $113,156.94. The trade was a 67.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 7,169 shares of company stock worth $3,059,135. Insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Intuitive Surgical

A number of institutional investors and hedge funds have recently made changes to their positions in ISRG. Riversedge Advisors LLC lifted its position in Intuitive Surgical by 1.9% during the 4th quarter. Riversedge Advisors LLC now owns 901 shares of the medical equipment provider's stock worth $510,000 after acquiring an additional 17 shares during the period. Fiduciary Financial Group LLC grew its stake in shares of Intuitive Surgical by 2.1% in the 4th quarter. Fiduciary Financial Group LLC now owns 920 shares of the medical equipment provider's stock valued at $521,000 after purchasing an additional 19 shares during the last quarter. Prosperity Consulting Group LLC increased its holdings in shares of Intuitive Surgical by 0.5% in the third quarter. Prosperity Consulting Group LLC now owns 4,033 shares of the medical equipment provider's stock valued at $1,804,000 after purchasing an additional 19 shares during the period. Sunburst Financial Group LLC increased its holdings in shares of Intuitive Surgical by 4.3% in the fourth quarter. Sunburst Financial Group LLC now owns 485 shares of the medical equipment provider's stock valued at $275,000 after purchasing an additional 20 shares during the period. Finally, WoodTrust Financial Corp raised its stake in shares of Intuitive Surgical by 0.5% during the fourth quarter. WoodTrust Financial Corp now owns 4,180 shares of the medical equipment provider's stock worth $2,367,000 after purchasing an additional 20 shares during the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

About Intuitive Surgical

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon's hand movements into finer, scaled motions of small instruments inside the patient. Intuitive's business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.

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