Intuitive Surgical (NASDAQ:ISRG) Issues Earnings Results, Beats Estimates By $0.10 EPS

Intuitive Surgical (NASDAQ:ISRG) issued its earnings results on Thursday. The medical equipment provider reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.10, Briefing.com reports. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. Intuitive Surgical had a net margin of 27.16% and a return on equity of 13.27%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.00 earnings per share.

Intuitive Surgical Trading Down 1.7 %

Shares of NASDAQ ISRG opened at $366.34 on Friday. The company has a market cap of $129.85 billion, a price-to-earnings ratio of 66.13, a PEG ratio of 5.78 and a beta of 1.36. Intuitive Surgical has a 12 month low of $254.85 and a 12 month high of $403.76. The stock has a 50-day moving average price of $386.84 and a two-hundred day moving average price of $343.10.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Robert W. Baird lowered their target price on shares of Intuitive Surgical from $440.00 to $436.00 and set an “outperform” rating on the stock in a report on Friday. Wells Fargo & Company lifted their price objective on shares of Intuitive Surgical from $363.00 to $416.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. Mizuho lifted their price objective on shares of Intuitive Surgical from $350.00 to $390.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Raymond James lifted their price objective on shares of Intuitive Surgical from $372.00 to $435.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, 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 research report on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $396.17.

Insiders Place Their Bets

In other news, EVP Myriam Curet sold 4,318 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $370.15, for a total value of $1,598,307.70. Following the completion of the transaction, the executive vice president now owns 189 shares of the company’s stock, valued at $69,958.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Myriam Curet sold 4,318 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $370.15, for a total value of $1,598,307.70. Following the completion of the transaction, the executive vice president now owns 189 shares of the company’s stock, valued at $69,958.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alan J. Levy sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $370.20, for a total value of $740,400.00. Following the completion of the transaction, the director now directly owns 25,319 shares of the company’s stock, valued at approximately $9,373,093.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 248,418 shares of company stock valued at $95,927,097. 0.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Intuitive Surgical

Institutional investors have recently added to or reduced their stakes in the stock. Stamos Capital Partners L.P. bought a new stake in Intuitive Surgical in the first quarter valued at approximately $495,000. Clearbridge Investments LLC boosted its holdings 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 worth $732,671,000 after buying an additional 455,461 shares in the last quarter. Fund Management at Engine No. 1 LLC bought a new position in shares of Intuitive Surgical during the 1st quarter worth approximately $913,000. USS Investment Management Ltd boosted its holdings in shares of Intuitive Surgical by 6.1% during the 1st quarter. USS Investment Management Ltd now owns 97,114 shares of the medical equipment provider’s stock worth $29,315,000 after buying an additional 5,620 shares in the last quarter. Finally, Kinneret Advisory LLC boosted its holdings in shares of Intuitive Surgical by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 3,999 shares of the medical equipment provider’s stock worth $1,206,000 after buying an additional 90 shares in the last quarter. 83.64% of the stock is currently 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.