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

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) released its earnings results on Thursday. The medical equipment provider reported $1.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.10, Briefing.com reports. Intuitive Surgical had a return on equity of 13.11% and a net margin of 25.24%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the business posted $1.00 earnings per share. The business's revenue for the quarter was up 11.5% on a year-over-year basis.

Intuitive Surgical Price Performance

ISRG stock traded down $1.54 during mid-day trading on Thursday, hitting $372.63. 2,312,736 shares of the stock were exchanged, compared to its average volume of 1,644,831. The business has a fifty day moving average price of $387.27 and a 200 day moving average price of $342.60. Intuitive Surgical has a 12 month low of $254.85 and a 12 month high of $403.76. The stock has a market capitalization of $132.08 billion, a price-to-earnings ratio of 74.08, a PEG ratio of 5.88 and a beta of 1.36.

Insiders Place Their Bets

In other Intuitive Surgical news, Director Alan J. Levy sold 2,000 shares of Intuitive Surgical stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $370.20, for a total transaction of $740,400.00. Following the completion of the sale, the director now owns 25,319 shares of the company's stock, valued at $9,373,093.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Myriam Curet sold 4,318 shares of Intuitive Surgical stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $370.15, for a total value of $1,598,307.70. Following the transaction, the executive vice president now owns 189 shares in the company, valued at $69,958.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Alan J. Levy sold 2,000 shares of Intuitive Surgical stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $370.20, for a total value of $740,400.00. Following the completion of the transaction, the director now owns 25,319 shares in the company, valued at approximately $9,373,093.80. The disclosure for this sale can be found here. Insiders sold a total of 248,418 shares of company stock valued at $95,927,097 over the last 90 days. Insiders own 0.90% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ISRG. Norges Bank purchased a new position in shares of Intuitive Surgical in the fourth quarter worth about $915,360,000. Morgan Stanley boosted its position in Intuitive Surgical by 29.9% during the 4th quarter. Morgan Stanley now owns 5,866,613 shares of the medical equipment provider's stock valued at $1,556,706,000 after acquiring an additional 1,351,002 shares in the last quarter. Barclays PLC boosted its position in Intuitive Surgical by 159.5% during the 2nd quarter. Barclays PLC now owns 1,379,246 shares of the medical equipment provider's stock valued at $471,619,000 after acquiring an additional 847,651 shares in the last quarter. Vanguard Group Inc. boosted its position in Intuitive Surgical by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 30,375,494 shares of the medical equipment provider's stock valued at $10,247,477,000 after acquiring an additional 507,267 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in Intuitive Surgical by 23.1% during the 1st quarter. Clearbridge Investments LLC now owns 2,428,635 shares of the medical equipment provider's stock valued at $732,671,000 after acquiring an additional 455,461 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Citigroup raised their target price on Intuitive Surgical from $428.00 to $462.00 and gave the stock a "buy" rating in a research report on Wednesday, April 3rd. Wells Fargo & Company raised their price target on Intuitive Surgical from $363.00 to $416.00 and gave the stock an "overweight" rating in a report on Friday, January 19th. Piper Sandler raised their price target on Intuitive Surgical from $325.00 to $425.00 and gave the stock an "overweight" rating in a report on Wednesday, January 24th. Raymond James raised their price target on Intuitive Surgical from $372.00 to $435.00 and gave the stock an "outperform" rating in a report on Thursday, January 25th. Finally, Truist Financial raised their price target on Intuitive Surgical from $390.00 to $435.00 and gave the stock a "buy" rating in a report on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $375.70.

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.