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

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

Intuitive Surgical Stock Performance

ISRG opened at $366.34 on Friday. The company has a 50-day moving average of $386.84 and a 200-day moving average of $343.10. The company has a market capitalization of $129.85 billion, a P/E ratio of 66.13, a PEG ratio of 5.78 and a beta of 1.36. Intuitive Surgical has a 1-year low of $254.85 and a 1-year high of $403.76.

Insider Transactions at Intuitive Surgical

In other news, VP Fredrik Widman sold 5,041 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $397.07, for a total value 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other 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 completion of the sale, the senior vice president now owns 1,842 shares of the company’s stock, valued at approximately $736,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Fredrik Widman sold 5,041 shares of Intuitive Surgical stock in a transaction dated 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 transaction, the vice president now directly owns 110 shares of the company’s stock, valued at $43,677.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 248,418 shares of company stock valued at $95,927,097. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ISRG. O Dell Group LLC acquired a new position in shares of Intuitive Surgical in the 4th quarter valued at about $30,000. PCA Investment Advisory Services Inc. acquired a new position in shares of Intuitive Surgical in the 2nd quarter valued at about $35,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Intuitive Surgical in the 1st quarter valued at about $39,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings 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 buying an additional 74 shares during the period. Finally, Cornerstone Planning Group LLC acquired a new position in shares of Intuitive Surgical in the 2nd quarter valued at about $51,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citigroup lifted their target price on shares of Intuitive Surgical from $428.00 to $462.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. BTIG Research lifted their target price on shares of Intuitive Surgical from $412.00 to $421.00 and gave the company a “buy” rating in a report on Friday. Truist Financial lifted their target price on shares of Intuitive Surgical from $390.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. 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 report on Thursday, January 25th. Finally, Robert W. Baird dropped their price target on shares of Intuitive Surgical from $440.00 to $436.00 and set an “outperform” rating on the stock in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.