Intuitive Surgical (NASDAQ:ISRG) Shares Gap Up Following Strong Earnings

Intuitive Surgical, Inc. (NASDAQ:ISRG - Get Free Report)'s share price gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $372.63, but opened at $385.27. Intuitive Surgical shares last traded at $371.93, with a volume of 678,554 shares trading hands.

The medical equipment provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.10. Intuitive Surgical had a net margin of 25.24% and a return on equity of 13.11%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the business posted $1.00 earnings per share. The company's revenue was up 11.5% on a year-over-year basis.

Analysts Set New Price Targets

ISRG has been the subject of several recent analyst reports. BTIG Research upped their price objective on shares of Intuitive Surgical from $412.00 to $421.00 and gave the company a "buy" rating in a research note on Friday. Wells Fargo & Company upped their price objective on shares of Intuitive Surgical from $363.00 to $416.00 and gave the company an "overweight" rating in a research note on Friday, January 19th. Citigroup upped their price objective on shares of Intuitive Surgical from $428.00 to $462.00 and gave the company a "buy" rating in a research note on Wednesday, April 3rd. Royal Bank of Canada upped their price objective on shares of Intuitive Surgical from $400.00 to $432.00 and gave the company an "outperform" rating in a research note on Wednesday, January 24th. Finally, StockNews.com downgraded shares of Intuitive Surgical from a "buy" rating to a "hold" rating in a research note on Thursday, February 29th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $381.24.

Insider Activity

In related news, EVP Robert Desantis sold 20,296 shares of the firm's stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $393.80, for a total value of $7,992,564.80. Following the sale, the executive vice president now owns 5,507 shares in the company, valued at $2,168,656.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Fredrik Widman sold 5,041 shares of the firm's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $397.07, for a total value of $2,001,629.87. Following the sale, the vice president now owns 110 shares in the company, valued at $43,677.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Desantis sold 20,296 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $393.80, for a total transaction of $7,992,564.80. Following the completion of the transaction, the executive vice president now owns 5,507 shares in the company, valued at $2,168,656.60. The disclosure for this sale can be found here. Insiders have sold a total of 248,418 shares of company stock worth $95,927,097 over the last 90 days. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. OFI Invest Asset Management bought a new position in Intuitive Surgical in the third quarter worth approximately $25,000. Baystate Wealth Management LLC raised its position in Intuitive Surgical by 150.0% in the fourth quarter. Baystate Wealth Management LLC now owns 75 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 45 shares during the period. MCF Advisors LLC raised its position in Intuitive Surgical by 108.1% in the fourth quarter. MCF Advisors LLC now owns 77 shares of the medical equipment provider's stock worth $26,000 after acquiring an additional 40 shares during the period. Headinvest LLC bought a new position in Intuitive Surgical in the third quarter worth approximately $28,000. Finally, Able Wealth Management LLC bought a new stake in shares of Intuitive Surgical during the 4th quarter valued at $28,000. 83.64% of the stock is currently owned by institutional investors.

Intuitive Surgical Stock Performance

The stock has a market capitalization of $129.85 billion, a P/E ratio of 73.65, a P/E/G ratio of 5.81 and a beta of 1.36. The company's 50-day moving average price is $387.27 and its 200 day moving average price is $342.60.

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.