Intuitive Surgical (NASDAQ:ISRG) Shares Gap Up After Strong Earnings

Intuitive Surgical, Inc. (NASDAQ:ISRG)’s share price gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $372.63, but opened at $385.27. Intuitive Surgical shares last traded at $371.93, with a volume of 678,554 shares changing hands.

The medical equipment provider reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.10. Intuitive Surgical had a net margin of 25.24% and a return on equity of 13.11%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the firm earned $1.00 EPS. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Citigroup upped their target price on shares of Intuitive Surgical from $428.00 to $462.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. BTIG Research upped their target price on shares of Intuitive Surgical from $412.00 to $421.00 and gave the stock a “buy” rating in a research report on Friday. Piper Sandler upped their target price on shares of Intuitive Surgical from $425.00 to $435.00 and gave the stock an “overweight” rating in a research report on Friday. Robert W. Baird decreased their target price on shares of Intuitive Surgical from $440.00 to $436.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Royal Bank of Canada upped their target price on shares of Intuitive Surgical from $400.00 to $432.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $396.17.

Insider Activity at Intuitive Surgical

In related news, VP Fredrik Widman sold 5,041 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $397.07, for a total transaction of $2,001,629.87. Following the completion of the sale, the vice president now directly owns 110 shares of the company’s stock, valued at $43,677.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Fredrik Widman sold 5,041 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $397.07, for a total transaction of $2,001,629.87. Following the completion of the sale, the vice president now directly owns 110 shares of the company’s stock, valued at $43,677.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Myriam Curet sold 4,318 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $370.15, for a total transaction of $1,598,307.70. Following the sale, the executive vice president now directly owns 189 shares of the company’s stock, valued at $69,958.35. The disclosure for this sale can be found here. Insiders sold a total of 248,418 shares of company stock valued at $95,927,097 over the last ninety days. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Intuitive Surgical

Several hedge funds have recently made changes to their positions in the company. Maryland State Retirement & Pension System lifted its position in shares of Intuitive Surgical by 0.9% in the 1st quarter. Maryland State Retirement & Pension System now owns 27,423 shares of the medical equipment provider’s stock valued at $10,209,000 after acquiring an additional 233 shares in the last quarter. Teamwork Financial Advisors LLC lifted its position in shares of Intuitive Surgical by 32.1% in the 1st quarter. Teamwork Financial Advisors LLC now owns 25,930 shares of the medical equipment provider’s stock valued at $10,348,000 after acquiring an additional 6,299 shares in the last quarter. Veracity Capital LLC purchased a new stake in shares of Intuitive Surgical in the 1st quarter valued at approximately $243,000. American National Bank & Trust Co. VA acquired a new position in Intuitive Surgical in the 1st quarter valued at approximately $937,000. Finally, Oak Harvest Investment Services increased its stake in Intuitive Surgical by 3.6% in the 1st quarter. Oak Harvest Investment Services now owns 6,161 shares of the medical equipment provider’s stock valued at $2,459,000 after buying an additional 212 shares during the period. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Performance

The stock has a market cap of $129.85 billion, a price-to-earnings ratio of 72.83, a price-to-earnings-growth ratio of 5.81 and a beta of 1.36. The company’s 50 day simple moving average is $386.84 and its two-hundred day simple moving average is $343.10.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.