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

Intuitive Surgical (NASDAQ:ISRG) issued its quarterly earnings data on Thursday. The medical equipment provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.10, Briefing.com reports. The company 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%. Intuitive Surgical’s revenue was up 11.5% compared to the same quarter last year. During the same period last year, the company posted $1.00 earnings per share.

Intuitive Surgical Stock Performance

NASDAQ ISRG traded down $6.29 on Friday, reaching $366.34. 3,975,892 shares of the company’s stock traded hands, compared to its average volume of 1,399,392. Intuitive Surgical has a fifty-two week low of $254.85 and a fifty-two week high of $403.76. The stock has a 50 day moving average price of $386.84 and a 200-day moving average price of $343.10. The firm has a market cap of $129.85 billion, a price-to-earnings ratio of 66.13, a P/E/G ratio of 5.78 and a beta of 1.36.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. BTIG Research lifted their price objective on shares of Intuitive Surgical from $412.00 to $421.00 and gave the company a “buy” rating in a report on Friday. Royal Bank of Canada lifted their price objective on shares of Intuitive Surgical from $400.00 to $432.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Citigroup lifted their price objective 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. Piper Sandler raised their target price on shares of Intuitive Surgical from $425.00 to $435.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Robert W. Baird lowered their target price on shares of Intuitive Surgical from $440.00 to $436.00 and set an “outperform” rating for the company in a research note on Friday. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $396.17.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, VP Marshall Mohr sold 108,790 shares of Intuitive Surgical stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $385.08, for a total value of $41,892,853.20. Following the completion of the transaction, the vice president now owns 26,877 shares of the company’s stock, valued at $10,349,795.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Marshall Mohr sold 108,790 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $385.08, for a total transaction of $41,892,853.20. Following the completion of the sale, the vice president now owns 26,877 shares of the company’s stock, valued at $10,349,795.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the vice president now directly owns 110 shares of the company’s stock, valued at approximately $43,677.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 248,418 shares of company stock valued at $95,927,097. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of Intuitive Surgical

A number of institutional investors and hedge funds have recently modified their holdings of ISRG. O Dell Group LLC purchased a new stake in shares of Intuitive Surgical during the fourth quarter worth about $30,000. PCA Investment Advisory Services Inc. purchased a new stake in shares of Intuitive Surgical during the second quarter worth about $35,000. Strategic Investment Solutions Inc. IL acquired a new position in Intuitive Surgical during the first quarter worth about $39,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Intuitive Surgical by 176.2% during 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 acquiring an additional 74 shares during the last quarter. Finally, Cornerstone Planning Group LLC acquired a new position in Intuitive Surgical during the second quarter worth about $51,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

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.