Intuitive Surgical (NASDAQ:ISRG) Releases Earnings Results, Beats Expectations By $0.42 EPS

Intuitive Surgical (NASDAQ:ISRG) issued its quarterly earnings results on Tuesday. The medical equipment provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.42, FiscalAI reports. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. Intuitive Surgical had a net margin of 28.38% and a return on equity of 15.06%.

Intuitive Surgical Stock Performance

ISRG traded down $13.98 during trading on Tuesday, reaching $451.62. 2,231,113 shares of the company’s stock were exchanged, compared to its average volume of 1,934,219. The company’s fifty day moving average price is $478.67 and its 200-day moving average price is $515.64. Intuitive Surgical has a fifty-two week low of $427.84 and a fifty-two week high of $603.88. The firm has a market capitalization of $160.38 billion, a PE ratio of 57.24, a P/E/G ratio of 3.66 and a beta of 1.68.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Intuitive Surgical in a report on Monday, December 29th. TD Cowen raised shares of Intuitive Surgical to a “strong-buy” rating in a report on Tuesday, January 27th. Evercore lowered their price target on shares of Intuitive Surgical from $550.00 to $480.00 and set a “neutral” rating for the company in a report on Monday, April 6th. Mizuho set a $525.00 price target on shares of Intuitive Surgical and gave the company a “neutral” rating in a report on Monday, April 13th. Finally, Raymond James Financial raised their price target on shares of Intuitive Surgical from $603.00 to $615.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Intuitive Surgical presently has an average rating of “Moderate Buy” and a consensus price target of $598.36.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, SVP Mark Brosius sold 645 shares of Intuitive Surgical stock in a transaction on Monday, March 9th. The shares were sold at an average price of $485.01, for a total transaction of $312,831.45. Following the completion of the sale, the senior vice president owned 1,613 shares of the company’s stock, valued at approximately $782,321.13. The trade was a 28.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Patricia L. Wadors sold 220 shares of Intuitive Surgical stock in a transaction on Friday, February 27th. The stock was sold at an average price of $499.71, for a total transaction of $109,936.20. The SEC filing for this sale provides additional information. Insiders sold a total of 32,943 shares of company stock worth $17,279,568 over the last quarter. 0.60% of the stock is currently owned by insiders.

Institutional Trading of Intuitive Surgical

Institutional investors have recently bought and sold shares of the business. Riggs Asset Managment Co. Inc. boosted its position in shares of Intuitive Surgical by 84.2% during the second quarter. Riggs Asset Managment Co. Inc. now owns 70 shares of the medical equipment provider’s stock worth $38,000 after purchasing an additional 32 shares in the last quarter. Strive Financial Group LLC bought a new position in shares of Intuitive Surgical during the fourth quarter worth $40,000. Birchwood Financial Partners Inc. bought a new position in shares of Intuitive Surgical during the fourth quarter worth $42,000. JPL Wealth Management LLC bought a new position in shares of Intuitive Surgical during the third quarter worth $45,000. Finally, IFC & Insurance Marketing Inc. bought a new position in shares of Intuitive Surgical during the fourth quarter worth $45,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

Intuitive Surgical Company Profile

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.