Intuitive Surgical (NASDAQ:ISRG) Issues Quarterly Earnings Results

Intuitive Surgical (NASDAQ:ISRG) announced its earnings results on Thursday. The medical equipment provider reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.10, Briefing.com reports. Intuitive Surgical had a net margin of 27.16% and a return on equity of 13.27%. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the company posted $1.00 EPS. The firm’s quarterly revenue was up 11.5% on a year-over-year basis.

Intuitive Surgical Trading Down 1.7 %

Shares of ISRG opened at $366.34 on Friday. The firm has a market cap of $129.85 billion, a P/E ratio of 66.13, a price-to-earnings-growth ratio of 5.78 and a beta of 1.36. Intuitive Surgical has a 12-month low of $254.85 and a 12-month high of $403.76. The company’s 50-day moving average price is $386.84 and its 200 day moving average price is $343.10.

Analyst Upgrades and Downgrades

ISRG has been the topic of several recent research reports. Barclays lifted their target price on shares of Intuitive Surgical from $385.00 to $430.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Raymond James lifted their target price on shares of Intuitive Surgical from $372.00 to $435.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Citigroup lifted their target price on shares of Intuitive Surgical from $428.00 to $462.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. BTIG Research lifted their target price on shares of Intuitive Surgical from $412.00 to $421.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Wells Fargo & Company boosted their price target on shares of Intuitive Surgical from $363.00 to $416.00 and gave the company an “overweight” rating in a research report on Friday, January 19th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $396.17.

Insider Activity at Intuitive Surgical

In related news, SVP Mark Brosius sold 196 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $400.00, for a total value of $78,400.00. Following the sale, the senior vice president now directly owns 1,842 shares in the company, valued at approximately $736,800. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Intuitive Surgical news, SVP Mark Brosius sold 196 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $400.00, for a total transaction of $78,400.00. Following the sale, the senior vice president now directly owns 1,842 shares in the company, valued at $736,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan J. Levy sold 2,000 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $370.20, for a total transaction of $740,400.00. Following the sale, the director now owns 25,319 shares in the company, valued at $9,373,093.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 248,418 shares of company stock worth $95,927,097. Company insiders own 0.90% of the company’s stock.

Institutional Trading of Intuitive Surgical

A number of large investors have recently made changes to their positions in the company. RB Capital Management LLC boosted its holdings in shares of Intuitive Surgical by 4.4% in the first quarter. RB Capital Management LLC now owns 1,735 shares of the medical equipment provider’s stock valued at $523,000 after acquiring an additional 73 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Intuitive Surgical by 0.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 946,709 shares of the medical equipment provider’s stock valued at $285,603,000 after acquiring an additional 5,233 shares during the period. Baird Financial Group Inc. boosted its holdings in shares of Intuitive Surgical by 2.3% in the first quarter. Baird Financial Group Inc. now owns 21,089 shares of the medical equipment provider’s stock valued at $6,362,000 after acquiring an additional 481 shares during the period. Brown Brothers Harriman & Co. raised its stake in shares of Intuitive Surgical by 576.7% during the first quarter. Brown Brothers Harriman & Co. now owns 406 shares of the medical equipment provider’s stock worth $122,000 after purchasing an additional 346 shares during the last quarter. Finally, Covestor Ltd raised its stake in shares of Intuitive Surgical by 50.4% during the first quarter. Covestor Ltd now owns 418 shares of the medical equipment provider’s stock worth $126,000 after purchasing an additional 140 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

About Intuitive Surgical

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.