Intuitive Surgical, Inc. (ISRG) Releases Earnings Results, Beats Expectations By $1.12 EPS
Intuitive Surgical, Inc. (NASDAQ:ISRG) released its earnings results on Tuesday. The medical equipment provider reported $5.09 earnings per share for the quarter, beating analysts’ consensus estimates of $3.97 by $1.12. Intuitive Surgical had a return on equity of 14.24% and a net margin of 27.21%. The company earned $674.20 million during the quarter, compared to analyst estimates of $664.72 million. During the same quarter in the previous year, the company posted $4.42 EPS. Intuitive Surgical’s revenue for the quarter was up 13.4% on a year-over-year basis.
Intuitive Surgical (NASDAQ:ISRG) opened at 759.34 on Wednesday. Intuitive Surgical has a 12-month low of $610.71 and a 12-month high of $775.91. The company has a market capitalization of $29.45 billion, a PE ratio of 40.54 and a beta of 0.55. The stock’s 50 day moving average price is $752.30 and its 200 day moving average price is $692.46.
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In other Intuitive Surgical news, SVP Mark J. Meltzer sold 8,750 shares of the company’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $724.82, for a total value of $6,342,175.00. Following the completion of the transaction, the senior vice president now owns 2,274 shares in the company, valued at $1,648,240.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Marshall Mohr sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $700.00, for a total transaction of $1,400,000.00. Following the completion of the transaction, the chief financial officer now owns 3,289 shares of the company’s stock, valued at approximately $2,302,300. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,118 shares of company stock valued at $25,064,571. Insiders own 3.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ISRG. Kissinger Financial Services LLC bought a new stake in Intuitive Surgical during the first quarter worth approximately $256,000. Howard Capital Management bought a new stake in Intuitive Surgical during the first quarter worth approximately $230,000. Ipswich Investment Management Co. Inc. boosted its stake in Intuitive Surgical by 13.0% in the first quarter. Ipswich Investment Management Co. Inc. now owns 390 shares of the medical equipment provider’s stock worth $299,000 after buying an additional 45 shares in the last quarter. National Pension Service boosted its stake in Intuitive Surgical by 2.9% in the first quarter. National Pension Service now owns 29,512 shares of the medical equipment provider’s stock worth $22,614,000 after buying an additional 837 shares in the last quarter. Finally, Dynamic Advisors Solutions LLC boosted its stake in Intuitive Surgical by 0.6% in the first quarter. Dynamic Advisors Solutions LLC now owns 905 shares of the medical equipment provider’s stock worth $694,000 after buying an additional 5 shares in the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Wedbush boosted their target price on Intuitive Surgical from $800.00 to $835.00 and gave the company an “outperform” rating in a research note on Wednesday. Barclays PLC reissued a “buy” rating and issued a $830.00 target price on shares of Intuitive Surgical in a research note on Wednesday. Zacks Investment Research raised Intuitive Surgical from a “hold” rating to a “buy” rating and set a $860.00 target price for the company in a research note on Tuesday. Royal Bank of Canada boosted their target price on Intuitive Surgical from $720.00 to $770.00 and gave the company a “sector perform” rating in a research note on Monday. Finally, Canaccord Genuity reissued a “buy” rating on shares of Intuitive Surgical in a research note on Wednesday, January 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Intuitive Surgical presently has an average rating of “Buy” and a consensus price target of $756.61.
Intuitive Surgical Company Profile
Intuitive Surgical, Inc (Intuitive) designs, manufactures and markets da Vinci Surgical Systems, and related instruments and accessories. The Company’s da Vinci Surgical System consists of a surgeon’s console, a patient-side cart and a vision system. The da Vinci Surgical System translates a surgeon’s 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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