Intuitive Surgical (NASDAQ:ISRG) Sets New 1-Year High After Earnings Beat

Intuitive Surgical, Inc. (NASDAQ:ISRG) shares hit a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The company traded as high as $966.07 and last traded at $958.47, with a volume of 40060 shares trading hands. The stock had previously closed at $932.19.

The medical equipment provider reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.06 by $0.86. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.26 billion. Intuitive Surgical had a net margin of 31.43% and a return on equity of 16.65%. The firm’s revenue was up 71.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.11 earnings per share.

ISRG has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on shares of Intuitive Surgical from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Wednesday. SVB Leerink raised their price objective on shares of Intuitive Surgical from $930.00 to $975.00 and gave the stock a “market perform” rating in a report on Wednesday. They noted that the move was a valuation call. Zacks Investment Research cut shares of Intuitive Surgical from a “buy” rating to a “hold” rating and set a $957.00 target price on the stock. in a research note on Monday, June 28th. Evercore ISI raised their target price on shares of Intuitive Surgical from $825.00 to $980.00 and gave the stock an “in-line” rating in a research note on Wednesday. Finally, Robert W. Baird raised their target price on shares of Intuitive Surgical from $825.00 to $1,050.00 and gave the stock an “outperform” rating in a research note on Wednesday. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $924.50.

In related news, CFO Marshall Mohr sold 21,963 shares of the business’s stock in a transaction on Monday, April 26th. The shares were sold at an average price of $865.69, for a total value of $19,013,149.47. Following the sale, the chief financial officer now owns 9,375 shares in the company, valued at $8,115,843.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan J. Levy sold 2,500 shares of the business’s stock in a transaction on Friday, April 23rd. The stock was sold at an average price of $856.79, for a total transaction of $2,141,975.00. Following the completion of the sale, the director now owns 8,094 shares in the company, valued at approximately $6,934,858.26. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,243 shares of company stock worth $48,517,488. Company insiders own 0.90% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Traynor Capital Management Inc. bought a new stake in Intuitive Surgical in the second quarter worth $346,000. First Command Bank boosted its stake in Intuitive Surgical by 85.7% during the second quarter. First Command Bank now owns 78 shares of the medical equipment provider’s stock worth $72,000 after buying an additional 36 shares during the period. Raymond James Trust N.A. boosted its stake in Intuitive Surgical by 4.0% during the second quarter. Raymond James Trust N.A. now owns 875 shares of the medical equipment provider’s stock worth $804,000 after buying an additional 34 shares during the period. Minot Wealth Management LLC boosted its stake in Intuitive Surgical by 30.9% during the second quarter. Minot Wealth Management LLC now owns 1,067 shares of the medical equipment provider’s stock worth $1,020,000 after buying an additional 252 shares during the period. Finally, Stratos Wealth Partners LTD. boosted its stake in Intuitive Surgical by 1.0% during the second quarter. Stratos Wealth Partners LTD. now owns 1,083 shares of the medical equipment provider’s stock worth $996,000 after buying an additional 11 shares during the period. Institutional investors own 83.72% of the company’s stock.

The stock has a 50 day simple moving average of $884.05. The stock has a market capitalization of $111.89 billion, a P/E ratio of 70.62, a PEG ratio of 8.31 and a beta of 1.05.

About Intuitive Surgical (NASDAQ:ISRG)

Intuitive Surgical, Inc engages in the development, manufacture, and marketing of da Vinci Surgical Systems, and related instruments and accessories for invasive surgery. Its products include Da Vinci and Ion. The company was founded by Frederic H. Moll, John Gordon Freund, and Robert G. Younge in November 1995 and is headquartered in Sunnyvale, CA.

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