Intuitive Surgical (NASDAQ:ISRG) Shares Gap Up on Earnings Beat

Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $372.63, but opened at $385.27. Intuitive Surgical shares last traded at $371.93, with a volume of 678,554 shares.

The medical equipment provider reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.10. Intuitive Surgical had a return on equity of 13.11% and a net margin of 25.24%. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the business posted $1.00 EPS. The firm’s quarterly revenue was up 11.5% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ISRG. Royal Bank of Canada raised their price objective on Intuitive Surgical from $400.00 to $432.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Mizuho raised their price objective on Intuitive Surgical from $350.00 to $390.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Stifel Nicolaus raised their price objective on Intuitive Surgical from $420.00 to $430.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Barclays raised their price objective on Intuitive Surgical from $385.00 to $430.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Finally, Piper Sandler raised their price objective on Intuitive Surgical from $325.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $378.48.

Insider Buying and Selling

In other Intuitive Surgical news, Director Alan J. Levy sold 2,000 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $370.20, for a total transaction of $740,400.00. Following the transaction, the director now owns 25,319 shares of the company’s stock, valued at $9,373,093.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Alan J. Levy sold 2,000 shares of the company’s stock in a transaction 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 owns 25,319 shares of the company’s stock, valued at approximately $9,373,093.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Myriam Curet sold 4,318 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $370.15, for a total value of $1,598,307.70. Following the completion of the sale, the executive vice president now owns 189 shares in the company, valued at approximately $69,958.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 248,418 shares of company stock worth $95,927,097. 0.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intuitive Surgical

Several institutional investors and hedge funds have recently modified their holdings of the company. Portside Wealth Group LLC increased its holdings in Intuitive Surgical by 8.2% during the 4th quarter. Portside Wealth Group LLC now owns 816 shares of the medical equipment provider’s stock worth $275,000 after purchasing an additional 62 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Intuitive Surgical by 58.0% during the 4th quarter. Sequoia Financial Advisors LLC now owns 8,315 shares of the medical equipment provider’s stock worth $2,805,000 after purchasing an additional 3,054 shares during the period. Kades & Cheifetz LLC purchased a new stake in Intuitive Surgical during the 4th quarter worth about $230,000. Blair William & Co. IL increased its holdings in Intuitive Surgical by 3.1% during the 3rd quarter. Blair William & Co. IL now owns 377,371 shares of the medical equipment provider’s stock worth $110,302,000 after purchasing an additional 11,400 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Intuitive Surgical by 21.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 739,471 shares of the medical equipment provider’s stock valued at $216,140,000 after acquiring an additional 129,194 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Trading Up 0.0 %

The firm has a market cap of $132.11 billion, a PE ratio of 75.96, a P/E/G ratio of 5.81 and a beta of 1.36. The business has a fifty day moving average price of $387.27 and a 200 day moving average price of $342.60.

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.