Intuitive Surgical, Inc. (NASDAQ:ISRG - Get Free Report)'s stock price traded up 13.9% during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $549.85 and last traded at $527.03. 8,304,241 shares traded hands during mid-day trading, an increase of 292% from the average session volume of 2,116,015 shares. The stock had previously closed at $462.74.
The medical equipment provider reported $2.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.99 by $0.41. The business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.41 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The firm's quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the business earned $1.84 EPS.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on ISRG shares. Evercore ISI lowered their price target on shares of Intuitive Surgical from $535.00 to $450.00 and set an "in-line" rating for the company in a report on Tuesday, October 7th. Royal Bank Of Canada set a $625.00 price target on shares of Intuitive Surgical and gave the stock an "outperform" rating in a report on Wednesday. Erste Group Bank restated a "hold" rating on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Truist Financial set a $620.00 price target on shares of Intuitive Surgical and gave the stock a "buy" rating in a report on Wednesday. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Intuitive Surgical in a report on Wednesday, October 8th. Sixteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $599.68.
Read Our Latest Stock Analysis on Intuitive Surgical
Insider Activity at Intuitive Surgical
In related news, EVP Myriam Curet sold 4,500 shares of Intuitive Surgical stock in a transaction on Friday, July 25th. The shares were sold at an average price of $492.48, for a total value of $2,216,160.00. Following the completion of the sale, the executive vice president owned 353 shares of the company's stock, valued at approximately $173,845.44. This trade represents a 92.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Amy L. Ladd sold 335 shares of Intuitive Surgical stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $440.69, for a total transaction of $147,631.15. Following the completion of the sale, the director directly owned 739 shares of the company's stock, valued at approximately $325,669.91. The trade was a 31.19% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,224 shares of company stock valued at $21,716,492. 0.70% of the stock is owned by company insiders.
Hedge Funds Weigh In On Intuitive Surgical
Hedge funds have recently bought and sold shares of the company. Chilton Capital Management LLC boosted its holdings in Intuitive Surgical by 614.3% during the 1st quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 43 shares during the last quarter. Tobam boosted its stake in Intuitive Surgical by 666.7% in the second quarter. Tobam now owns 46 shares of the medical equipment provider's stock worth $25,000 after buying an additional 40 shares in the last quarter. Elite Financial Inc. purchased a new stake in Intuitive Surgical in the first quarter worth approximately $26,000. Kilter Group LLC purchased a new stake in Intuitive Surgical in the second quarter worth approximately $27,000. Finally, LFA Lugano Financial Advisors SA purchased a new stake in shares of Intuitive Surgical during the first quarter valued at approximately $30,000. 83.64% of the stock is owned by hedge funds and other institutional investors.
Intuitive Surgical Price Performance
The stock has a market cap of $188.93 billion, a PE ratio of 73.50, a price-to-earnings-growth ratio of 4.81 and a beta of 1.61. The business has a 50 day moving average price of $454.39 and a two-hundred day moving average price of $495.58.
Intuitive Surgical Company Profile
(
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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.
Further Reading
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