Intuitive Surgical (ISRG) Announces Quarterly Earnings Results, Beats Estimates By $0.28 EPS

Intuitive Surgical (NASDAQ:ISRG) announced its quarterly earnings results on Wednesday. The medical equipment provider reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.28, Bloomberg Earnings reports. The company had revenue of $909.30 million during the quarter, compared to analysts’ expectations of $877.43 million. Intuitive Surgical had a return on equity of 20.72% and a net margin of 23.25%. Intuitive Surgical’s quarterly revenue was up 19.8% on a year-over-year basis. During the same period last year, the business earned $5.95 earnings per share.

Shares of Intuitive Surgical traded down $6.62, reaching $521.29, on Thursday, MarketBeat Ratings reports. The company’s stock had a trading volume of 1,011,600 shares, compared to its average volume of 844,149. The stock has a market capitalization of $59.34 billion, a PE ratio of 75.20, a price-to-earnings-growth ratio of 4.65 and a beta of 0.58. Intuitive Surgical has a 52-week low of $307.00 and a 52-week high of $532.30.

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In other news, EVP David J. Rosa sold 54,000 shares of the business’s stock in a transaction that occurred on Friday, April 20th. The stock was sold at an average price of $457.02, for a total value of $24,679,080.00. Following the completion of the sale, the executive vice president now directly owns 65,141 shares in the company, valued at $29,770,739.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mark J. Meltzer sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, June 7th. The shares were sold at an average price of $483.65, for a total value of $2,901,900.00. Following the completion of the sale, the senior vice president now owns 11,552 shares of the company’s stock, valued at $5,587,124.80. The disclosure for this sale can be found here. Insiders sold 170,767 shares of company stock valued at $77,995,219 over the last 90 days. Company insiders own 2.20% of the company’s stock.

ISRG has been the subject of several recent research reports. Bank of America lifted their price target on Intuitive Surgical from $465.00 to $510.00 and gave the company a “buy” rating in a research report on Wednesday, April 18th. Vetr cut Intuitive Surgical from a “strong-buy” rating to a “buy” rating and set a $454.14 price target for the company. in a research report on Tuesday, April 10th. Leerink Swann reiterated an “outperform” rating and set a $510.00 price target (up from $475.00) on shares of Intuitive Surgical in a research report on Wednesday, April 18th. Cantor Fitzgerald lifted their price target on Intuitive Surgical to $510.00 and gave the company an “overweight” rating in a research report on Wednesday, April 18th. Finally, Sanford C. Bernstein initiated coverage on Intuitive Surgical in a research report on Wednesday, June 27th. They set an “outperform” rating and a $560.00 price target for the company. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $476.97.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. The company's da Vinci surgical System translates a surgeon's natural hand movements, which are performed on instrument controls at a console into corresponding micro-movements of instruments positioned inside the patient through small incisions or ports.

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