Intuitive Surgical (NASDAQ:ISRG) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Intuitive Surgical (NASDAQ:ISRG) released its earnings results on Thursday. The medical equipment provider reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.10, Briefing.com reports. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. Intuitive Surgical had a return on equity of 13.27% and a net margin of 27.16%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the business earned $1.00 earnings per share.

Intuitive Surgical Stock Performance

NASDAQ ISRG opened at $366.34 on Friday. The stock has a market capitalization 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 52 week low of $254.85 and a 52 week high of $403.76. The stock has a fifty day moving average of $386.84 and a 200-day moving average of $343.10.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, VP Fredrik Widman sold 5,041 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was 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 approximately $43,677.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intuitive Surgical news, VP Fredrik Widman sold 5,041 shares of Intuitive Surgical stock in a transaction 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 owns 110 shares of the company’s stock, valued at approximately $43,677.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alan J. Levy sold 2,000 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $370.20, for a total value of $740,400.00. Following the completion of the transaction, the director now directly owns 25,319 shares in the company, valued at approximately $9,373,093.80. The disclosure for this sale can be found here. Insiders have sold a total of 248,418 shares of company stock worth $95,927,097 over the last 90 days. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Intuitive Surgical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. O Dell Group LLC acquired a new stake in shares of Intuitive Surgical in the 4th quarter valued at approximately $30,000. PCA Investment Advisory Services Inc. acquired a new stake in Intuitive Surgical in the second quarter valued at $35,000. Strategic Investment Solutions Inc. IL acquired a new stake in Intuitive Surgical in the first quarter valued at $39,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Intuitive Surgical by 176.2% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 116 shares of the medical equipment provider’s stock valued at $39,000 after acquiring an additional 74 shares during the period. Finally, Cornerstone Planning Group LLC acquired a new position in shares of Intuitive Surgical during the 2nd quarter worth about $51,000. Institutional investors own 83.64% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Royal Bank of Canada boosted their price objective on Intuitive Surgical from $400.00 to $432.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. BTIG Research raised their price objective on shares of Intuitive Surgical from $412.00 to $421.00 and gave the stock a “buy” rating in a report on Friday. Raymond James lifted their target price on shares of Intuitive Surgical from $372.00 to $435.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. StockNews.com lowered shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Finally, Robert W. Baird decreased their price objective on Intuitive Surgical from $440.00 to $436.00 and set an “outperform” rating on the stock in a report on Friday. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $396.17.

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.