Intuitive Surgical (NASDAQ:ISRG) Posts Earnings Results, Misses Expectations By $0.02 EPS

Intuitive Surgical (NASDAQ:ISRG – Get Rating) posted its quarterly earnings data on Tuesday. The medical equipment provider reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.02), RTT News reports. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.66 billion. Intuitive Surgical had a net margin of 22.52% and a return on equity of 11.54%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.30 EPS.

Intuitive Surgical Price Performance

NASDAQ:ISRG opened at $257.98 on Wednesday. Intuitive Surgical has a 12-month low of $180.07 and a 12-month high of $308.97. The firm has a market capitalization of $91.17 billion, a P/E ratio of 68.07, a P/E/G ratio of 4.90 and a beta of 1.36. The business has a 50 day simple moving average of $264.91 and a 200 day simple moving average of $234.18.

Insider Activity at Intuitive Surgical

In related news, EVP Myriam Curet sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $250.06, for a total transaction of $2,000,480.00. Following the completion of the transaction, the executive vice president now owns 217 shares in the company, valued at approximately $54,263.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Intuitive Surgical news, EVP Myriam Curet sold 8,000 shares of the business’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $250.06, for a total transaction of $2,000,480.00. Following the completion of the transaction, the executive vice president now owns 217 shares in the company, valued at approximately $54,263.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amal M. Johnson sold 6,375 shares of the business’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $239.36, for a total value of $1,525,920.00. Following the transaction, the director now owns 11,224 shares of the company’s stock, valued at approximately $2,686,576.64. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Institutional Trading of Intuitive Surgical

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Clearbridge Investments LLC raised its stake in shares of Intuitive Surgical by 23.1% in the 1st quarter. Clearbridge Investments LLC now owns 2,428,635 shares of the medical equipment provider’s stock worth $732,671,000 after buying an additional 455,461 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Intuitive Surgical by 6.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,882,885 shares of the medical equipment provider’s stock worth $568,030,000 after purchasing an additional 118,323 shares during the period. Macquarie Group Ltd. raised its position in shares of Intuitive Surgical by 3.1% during the second quarter. Macquarie Group Ltd. now owns 1,497,671 shares of the medical equipment provider’s stock worth $300,597,000 after purchasing an additional 45,102 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Intuitive Surgical by 17.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,267,165 shares of the medical equipment provider’s stock worth $382,278,000 after purchasing an additional 184,718 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Intuitive Surgical by 31.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,126,514 shares of the medical equipment provider’s stock worth $339,847,000 after purchasing an additional 269,493 shares during the period. Institutional investors own 81.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ISRG. Truist Financial raised their price target on Intuitive Surgical from $300.00 to $310.00 and gave the stock a “buy” rating in a research note on Tuesday, December 20th. Argus raised their price target on Intuitive Surgical from $265.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, December 22nd. Wells Fargo & Company raised their price target on Intuitive Surgical from $262.00 to $305.00 and gave the stock an “overweight” rating in a research note on Monday, December 12th. JPMorgan Chase & Co. raised their price target on Intuitive Surgical from $250.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, November 18th. Finally, StockNews.com began coverage on Intuitive Surgical in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and a consensus target price of $280.53.

Intuitive Surgical Company Profile

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Intuitive Surgical, Inc engages in the development, manufacture, and marketing of da Vinci Surgical Systems, and related instruments and accessories for invasive surgery. Its products include Da Vinci and Ion. The company was founded by Frederic H. Moll, John Gordon Freund, and Robert G. Younge in November 1995 and is headquartered in Sunnyvale, CA.