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

Intuitive Surgical (NASDAQ:ISRG) released its earnings results 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 during the quarter, compared to analyst estimates of $1.87 billion. Intuitive Surgical had a return on equity of 13.27% and a net margin of 27.16%. Intuitive Surgical’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 earnings per share.

Intuitive Surgical Stock Performance

ISRG traded down $6.29 during trading on Friday, reaching $366.34. The stock had a trading volume of 3,975,892 shares, compared to its average volume of 1,399,392. The stock has a market cap of $129.85 billion, a PE ratio of 66.13, a PEG 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. The business has a 50-day moving average of $386.84 and a 200-day moving average of $343.10.

Insider Activity at Intuitive Surgical

In related news, SVP Mark Brosius sold 196 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $400.00, for a total value of $78,400.00. Following the transaction, the senior vice president now owns 1,842 shares of the company’s stock, valued at $736,800. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Fredrik Widman sold 5,041 shares of the firm’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 transaction, the vice president now directly owns 110 shares of the company’s stock, valued at $43,677.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mark Brosius sold 196 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $400.00, for a total value of $78,400.00. Following the transaction, the senior vice president now directly owns 1,842 shares in the company, valued at $736,800. The disclosure for this sale can be found here. Insiders have sold a total of 248,418 shares of company stock valued at $95,927,097 over the last 90 days. 0.90% of the stock is owned by insiders.

Institutional Trading of Intuitive Surgical

Large investors have recently modified their holdings of the business. O Dell Group LLC bought a new stake in shares of Intuitive Surgical in the fourth quarter worth about $30,000. PCA Investment Advisory Services Inc. bought a new stake in shares of Intuitive Surgical in the second quarter worth about $35,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Intuitive Surgical in the first quarter worth about $39,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of 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 last quarter. Finally, Cornerstone Planning Group LLC bought a new stake in shares of Intuitive Surgical in the second quarter worth about $51,000. 83.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Jefferies Financial Group increased their price objective on Intuitive Surgical from $365.00 to $375.00 and gave the company a “hold” rating in a report on Friday. BTIG Research increased their price objective on Intuitive Surgical from $412.00 to $421.00 and gave the company a “buy” rating in a report on Friday. Raymond James increased their price objective on Intuitive Surgical from $372.00 to $435.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. StockNews.com downgraded Intuitive Surgical from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Finally, Piper Sandler increased their target price on Intuitive Surgical from $425.00 to $435.00 and gave the stock an “overweight” rating in a research report on Friday. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $396.17.

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.