Intuitive Surgical (NASDAQ:ISRG) Releases Earnings Results

Key Points

• Intuitive Surgical reported quarterly earnings of $1.96 per share, missing analysts' expectations of $2.00 by $0.04.
• The company's stock price rose $4.27 to $462.74 during trading, with a market capitalization of $165.88 billion.
• Analyst ratings for Intuitive Surgical have varied, with a consensus rating of "Moderate Buy" and an average target price of $585.05.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) posted its quarterly earnings results on Tuesday. The medical equipment provider reported $1.96 earnings per share for the quarter, missing analysts' consensus estimates of $2.00 by ($0.04), Zacks reports. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.

Intuitive Surgical Stock Performance

ISRG stock traded up $4.27 during trading on Tuesday, hitting $462.74. 4,674,960 shares of the company's stock traded hands, compared to its average volume of 2,083,730. Intuitive Surgical has a 52 week low of $425.00 and a 52 week high of $616.00. The business has a fifty day simple moving average of $454.70 and a 200 day simple moving average of $495.81. The stock has a market capitalization of $165.88 billion, a price-to-earnings ratio of 64.54, a P/E/G ratio of 4.69 and a beta of 1.61.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Wall Street Zen lowered shares of Intuitive Surgical from a "buy" rating to a "hold" rating in a research report on Saturday. Sanford C. Bernstein restated an "outperform" rating and set a $685.00 target price on shares of Intuitive Surgical in a research report on Tuesday. UBS Group set a $529.00 target price on shares of Intuitive Surgical in a research report on Monday, October 13th. Zacks Research lowered shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. Finally, Evercore ISI dropped their target price on shares of Intuitive Surgical from $535.00 to $450.00 and set an "in-line" rating for the company in a research report on Tuesday, October 7th. Fifteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $585.05.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, insider Gary S. Guthart sold 29,360 shares of the 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 transaction, the insider owned 19,827 shares in the company, valued at $9,368,059.23. This trade represents a 59.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Myriam Curet sold 4,500 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the transaction, the executive vice president owned 353 shares of the company's stock, valued at $173,845.44. This trade represents a 92.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,224 shares of company stock worth $21,716,492 over the last 90 days. 0.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Intuitive Surgical

Several hedge funds and other institutional investors have recently made changes to their positions in ISRG. Evergreen Capital Management LLC grew its holdings in Intuitive Surgical by 17.5% during the 2nd quarter. Evergreen Capital Management LLC now owns 5,038 shares of the medical equipment provider's stock worth $2,738,000 after acquiring an additional 750 shares in the last quarter. MayTech Global Investments LLC boosted its stake in Intuitive Surgical by 5.5% in the 2nd quarter. MayTech Global Investments LLC now owns 73,621 shares of the medical equipment provider's stock worth $39,026,000 after purchasing an additional 3,855 shares in the last quarter. MUFG Securities EMEA plc acquired a new stake in Intuitive Surgical in the 2nd quarter worth approximately $575,000. Security National Bank of SO Dak purchased a new position in Intuitive Surgical during the 2nd quarter worth approximately $220,000. Finally, Blue Edge Capital LLC acquired a new stake in Intuitive Surgical during the 2nd quarter worth $791,000. Hedge funds and other institutional investors own 83.64% of the company's stock.

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.

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