Intuitive Surgical (NASDAQ:ISRG) Posts Earnings Results, Beats Estimates By $0.41 EPS

Intuitive Surgical (NASDAQ:ISRG) posted its quarterly earnings results on Tuesday. The medical equipment provider reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.41, Briefing.com reports. Intuitive Surgical had a return on equity of 15.03% and a net margin of 28.58%.The firm had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the company earned $1.84 earnings per share. The business’s revenue for the quarter was up 22.9% on a year-over-year basis.

Intuitive Surgical Price Performance

Shares of Intuitive Surgical stock opened at $527.03 on Thursday. Intuitive Surgical has a 1 year low of $425.00 and a 1 year high of $616.00. The firm has a market cap of $188.93 billion, a PE ratio of 69.71, a PEG ratio of 4.86 and a beta of 1.61. The company has a 50 day simple moving average of $455.28 and a two-hundred day simple moving average of $495.80.

Insider Buying and Selling at Intuitive Surgical

In other news, insider Gary S. Guthart sold 29,360 shares of Intuitive Surgical stock in a transaction on Friday, August 29th. The shares were sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the completion of the sale, the insider directly owned 19,827 shares of the company’s stock, valued at approximately $9,368,059.23. The trade was a 59.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Amy L. Ladd sold 335 shares of Intuitive Surgical stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $440.69, for a total transaction of $147,631.15. Following the sale, the director directly owned 739 shares of the company’s stock, valued at $325,669.91. This represents a 31.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,224 shares of company stock worth $21,716,492 over the last three months. 0.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Intuitive Surgical

Several hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its stake in Intuitive Surgical by 1.8% during the second quarter. California State Teachers Retirement System now owns 560,780 shares of the medical equipment provider’s stock worth $304,733,000 after purchasing an additional 10,074 shares during the last quarter. Oxford Financial Group LTD. LLC lifted its position in Intuitive Surgical by 72.7% in the 2nd quarter. Oxford Financial Group LTD. LLC now owns 330,527 shares of the medical equipment provider’s stock worth $179,612,000 after buying an additional 139,158 shares during the last quarter. Corient Private Wealth LLC lifted its position in Intuitive Surgical by 72.2% in the 2nd quarter. Corient Private Wealth LLC now owns 309,759 shares of the medical equipment provider’s stock worth $167,426,000 after buying an additional 129,854 shares during the last quarter. AQR Capital Management LLC lifted its position in Intuitive Surgical by 211.2% in the 2nd quarter. AQR Capital Management LLC now owns 158,410 shares of the medical equipment provider’s stock worth $85,741,000 after buying an additional 107,504 shares during the last quarter. Finally, State of Tennessee Department of Treasury lifted its position in Intuitive Surgical by 7.4% in the 2nd quarter. State of Tennessee Department of Treasury now owns 137,927 shares of the medical equipment provider’s stock worth $74,951,000 after buying an additional 9,514 shares during the last quarter. Institutional investors own 83.64% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on ISRG. The Goldman Sachs Group cut their target price on Intuitive Surgical from $621.00 to $567.00 and set a “buy” rating for the company in a research note on Wednesday, October 1st. Truist Financial set a $620.00 price objective on shares of Intuitive Surgical and gave the company a “buy” rating in a research report on Wednesday. Sanford C. Bernstein restated an “outperform” rating and issued a $685.00 price objective on shares of Intuitive Surgical in a research report on Tuesday. Robert W. Baird set a $655.00 price objective on shares of Intuitive Surgical in a research report on Wednesday. Finally, Leerink Partners raised their price target on shares of Intuitive Surgical from $593.00 to $600.00 and gave the company an “outperform” rating in a report on Wednesday. Sixteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $599.68.

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.