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

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

Intuitive Surgical Price Performance

Shares of Intuitive Surgical stock opened at $366.34 on Friday. The business’s 50 day simple moving average is $386.84 and its two-hundred day simple moving average is $343.10. 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 one year low of $254.85 and a one year high of $403.76.

Wall Street Analyst Weigh In

ISRG has been the subject of several recent research reports. StockNews.com lowered Intuitive Surgical from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Mizuho raised their target price on Intuitive Surgical from $350.00 to $390.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Raymond James raised their target price on Intuitive Surgical from $372.00 to $435.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Truist Financial lifted their price target on Intuitive Surgical from $390.00 to $435.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Finally, Barclays lifted their price target on Intuitive Surgical from $385.00 to $430.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intuitive Surgical has a consensus rating of “Moderate Buy” and a consensus price target of $396.17.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Intuitive Surgical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. O Dell Group LLC purchased a new stake in Intuitive Surgical in the fourth quarter worth $30,000. PCA Investment Advisory Services Inc. purchased a new stake in Intuitive Surgical in the second quarter worth $35,000. Strategic Investment Solutions Inc. IL purchased a new stake in Intuitive Surgical in the first quarter worth $39,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Intuitive Surgical by 176.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 116 shares of the medical equipment provider’s stock worth $39,000 after purchasing an additional 74 shares during the period. Finally, Cornerstone Planning Group LLC bought a new stake in Intuitive Surgical in the second quarter worth $51,000. 83.64% of the stock is 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.