Intuitive Surgical (NASDAQ:ISRG) Posts Earnings Results, Beats Estimates By $0.42 EPS

Intuitive Surgical (NASDAQ:ISRG) announced its quarterly earnings results on Tuesday. The medical equipment provider reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.42, FiscalAI reports. The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Intuitive Surgical had a net margin of 28.38% and a return on equity of 15.06%.

Intuitive Surgical Stock Down 3.0%

ISRG traded down $13.98 during trading on Tuesday, hitting $451.62. The company had a trading volume of 2,231,113 shares, compared to its average volume of 1,934,219. The company has a market capitalization of $160.38 billion, a PE ratio of 57.24, a PEG ratio of 3.66 and a beta of 1.68. Intuitive Surgical has a one year low of $427.84 and a one year high of $603.88. The firm’s 50-day moving average price is $478.67 and its 200 day moving average price is $515.64.

Insider Activity at Intuitive Surgical

In related news, VP Fredrik Widman sold 133 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total value of $65,829.68. Following the sale, the vice president directly owned 660 shares of the company’s stock, valued at approximately $326,673.60. The trade was a 16.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Myriam Curet sold 105 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $493.95, for a total transaction of $51,864.75. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 32,943 shares of company stock valued at $17,279,568. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Intuitive Surgical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ISRG. Brighton Jones LLC increased its stake in Intuitive Surgical by 24.9% in the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider’s stock valued at $1,916,000 after buying an additional 731 shares during the last quarter. Sivia Capital Partners LLC increased its stake in Intuitive Surgical by 3.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider’s stock valued at $504,000 after buying an additional 34 shares during the last quarter. Schnieders Capital Management LLC. increased its stake in Intuitive Surgical by 38.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 973 shares of the medical equipment provider’s stock valued at $529,000 after buying an additional 268 shares during the last quarter. Osterweis Capital Management Inc. acquired a new stake in Intuitive Surgical in the 2nd quarter valued at $200,000. Finally, Main Street Financial Solutions LLC increased its stake in Intuitive Surgical by 92.4% in the 2nd quarter. Main Street Financial Solutions LLC now owns 2,929 shares of the medical equipment provider’s stock valued at $1,592,000 after buying an additional 1,407 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ISRG. Weiss Ratings reissued a “hold (c+)” rating on shares of Intuitive Surgical in a research report on Monday, December 29th. Zacks Research cut shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. BTIG Research reissued a “buy” rating and set a $616.00 price target on shares of Intuitive Surgical in a research report on Friday, April 10th. Evercore reduced their price target on shares of Intuitive Surgical from $550.00 to $480.00 and set a “neutral” rating on the stock in a research report on Monday, April 6th. Finally, Raymond James Financial boosted their price objective on shares of Intuitive Surgical from $603.00 to $615.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $598.36.

Intuitive Surgical Company Profile

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.