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

Intuitive Surgical (NASDAQ:ISRG) posted its quarterly earnings data on Thursday. The medical equipment provider reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.10, Briefing.com reports. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate 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 business posted $1.00 earnings per share.

Intuitive Surgical Trading Down 1.7 %

Shares of ISRG stock opened at $366.34 on Friday. Intuitive Surgical has a 12 month low of $254.85 and a 12 month high of $403.76. The firm has a market capitalization of $129.85 billion, a PE ratio of 66.13, a price-to-earnings-growth ratio of 5.78 and a beta of 1.36. The firm has a fifty day simple moving average of $386.84 and a two-hundred day simple moving average of $343.10.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company raised their price objective on Intuitive Surgical from $363.00 to $416.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. Robert W. Baird dropped their price target on shares of Intuitive Surgical from $440.00 to $436.00 and set an “outperform” rating on the stock in a research report on Friday. Citigroup increased their price objective on shares of Intuitive Surgical from $428.00 to $462.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Stifel Nicolaus boosted their target price on shares of Intuitive Surgical from $420.00 to $430.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, BTIG Research increased their price target on Intuitive Surgical from $412.00 to $421.00 and gave the stock a “buy” rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Intuitive Surgical has an average rating of “Moderate Buy” and a consensus price target of $396.17.

Insider Buying and Selling at Intuitive Surgical

In related news, VP Marshall Mohr sold 108,790 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $385.08, for a total value of $41,892,853.20. Following the sale, the vice president now owns 26,877 shares in the company, valued at approximately $10,349,795.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Marshall Mohr sold 108,790 shares of Intuitive Surgical stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $385.08, for a total transaction of $41,892,853.20. Following the transaction, the vice president now owns 26,877 shares of the company’s stock, valued at $10,349,795.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President David J. Rosa sold 80,710 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $389.28, for a total value of $31,418,788.80. Following the completion of the sale, the president now directly owns 163,399 shares of the company’s stock, valued at $63,607,962.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 248,418 shares of company stock valued at $95,927,097. Corporate insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Intuitive Surgical

A number of institutional investors have recently added to or reduced their stakes in ISRG. Norges Bank purchased a new position in shares of Intuitive Surgical in the 4th quarter worth approximately $915,360,000. Morgan Stanley lifted its holdings in Intuitive Surgical by 29.9% during the fourth quarter. Morgan Stanley now owns 5,866,613 shares of the medical equipment provider’s stock worth $1,556,706,000 after acquiring an additional 1,351,002 shares during the period. Barclays PLC boosted its position in Intuitive Surgical by 159.5% in the second quarter. Barclays PLC now owns 1,379,246 shares of the medical equipment provider’s stock worth $471,619,000 after purchasing an additional 847,651 shares during the last quarter. Vanguard Group Inc. grew its stake in Intuitive Surgical by 1.7% in 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 purchasing an additional 507,267 shares during the period. Finally, Clearbridge Investments LLC increased its position in shares of 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 purchasing an additional 455,461 shares during the last quarter. 83.64% of the stock is owned by institutional investors.

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.