Equities Analysts Offer Predictions for ISRG FY2024 Earnings

Intuitive Surgical, Inc. (NASDAQ:ISRG) – Research analysts at Leerink Partnrs lowered their FY2024 earnings per share estimates for Intuitive Surgical in a note issued to investors on Monday, November 25th. Leerink Partnrs analyst M. Kratky now forecasts that the medical equipment provider will post earnings per share of $5.39 for the year, down from their prior estimate of $5.41. The consensus estimate for Intuitive Surgical’s current full-year earnings is $5.45 per share.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.24 by $0.32. Intuitive Surgical had a return on equity of 13.41% and a net margin of 28.51%. The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.01 billion.

A number of other equities research analysts also recently weighed in on ISRG. Mizuho lifted their target price on Intuitive Surgical from $440.00 to $500.00 in a report on Thursday, October 17th. Oppenheimer reiterated a “market perform” rating on shares of Intuitive Surgical in a research note on Friday, October 18th. Raymond James raised their price objective on Intuitive Surgical from $500.00 to $540.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. The Goldman Sachs Group set a $604.00 target price on Intuitive Surgical in a research report on Friday, October 18th. Finally, Wells Fargo & Company boosted their price objective on shares of Intuitive Surgical from $466.00 to $549.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $526.06.

Intuitive Surgical Stock Down 0.7 %

ISRG opened at $538.55 on Wednesday. Intuitive Surgical has a 12-month low of $304.50 and a 12-month high of $552.00. The stock has a market cap of $191.82 billion, a price-to-earnings ratio of 86.58, a PEG ratio of 5.28 and a beta of 1.39. The business has a 50 day moving average of $507.94 and a 200-day moving average of $466.79.

Institutional Investors Weigh In On Intuitive Surgical

A number of hedge funds have recently added to or reduced their stakes in the company. Waverly Advisors LLC boosted its position in shares of Intuitive Surgical by 27.1% during the first quarter. Waverly Advisors LLC now owns 2,552 shares of the medical equipment provider’s stock valued at $1,018,000 after buying an additional 544 shares during the last quarter. Kennedy Capital Management LLC purchased a new position in shares of Intuitive Surgical during the first quarter valued at approximately $2,545,000. B. Riley Wealth Advisors Inc. lifted its holdings in Intuitive Surgical by 26.1% during the first quarter. B. Riley Wealth Advisors Inc. now owns 7,466 shares of the medical equipment provider’s stock worth $2,980,000 after acquiring an additional 1,545 shares during the period. Creekmur Asset Management LLC lifted its holdings in Intuitive Surgical by 200.0% during the first quarter. Creekmur Asset Management LLC now owns 63 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 42 shares during the period. Finally, Tidal Investments LLC lifted its holdings in Intuitive Surgical by 11.5% during the first quarter. Tidal Investments LLC now owns 16,560 shares of the medical equipment provider’s stock worth $6,609,000 after acquiring an additional 1,710 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

Insider Buying and Selling

In other news, General Counsel Gary Loeb sold 300 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $475.00, for a total transaction of $142,500.00. Following the transaction, the general counsel now owns 1,595 shares in the company, valued at approximately $757,625. This represents a 15.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mark Brosius sold 2,128 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $515.00, for a total value of $1,095,920.00. Following the completion of the transaction, the senior vice president now owns 273 shares in the company, valued at approximately $140,595. The trade was a 88.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,459 shares of company stock valued at $26,080,251 over the last quarter. Insiders own 0.80% of the company’s stock.

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.