Intuitive Surgical (NASDAQ:ISRG) Posts Earnings Results, Beats Expectations By $0.17 EPS

Intuitive Surgical (NASDAQ:ISRG) released its quarterly earnings results on Thursday. The medical equipment provider reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.17, Zacks reports. Intuitive Surgical had a return on equity of 13.41% and a net margin of 28.51%.

Intuitive Surgical Price Performance

ISRG traded down $1.79 during midday trading on Thursday, reaching $608.66. 2,226,284 shares of the company’s stock were exchanged, compared to its average volume of 1,813,992. Intuitive Surgical has a 1-year low of $362.14 and a 1-year high of $616.00. The stock has a market capitalization of $216.79 billion, a PE ratio of 97.86, a P/E/G ratio of 5.13 and a beta of 1.39. The business’s 50-day moving average price is $544.61 and its 200 day moving average price is $502.64.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ISRG. Morgan Stanley upgraded shares of Intuitive Surgical from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $522.00 to $650.00 in a research note on Monday, December 2nd. Royal Bank of Canada lifted their price objective on shares of Intuitive Surgical from $525.00 to $555.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Piper Sandler restated an “overweight” rating and set a $538.00 price objective (up previously from $495.00) on shares of Intuitive Surgical in a research report on Friday, October 18th. Leerink Partners lifted their target price on shares of Intuitive Surgical from $489.00 to $502.00 in a report on Thursday, October 17th. Finally, Wells Fargo & Company increased their price target on shares of Intuitive Surgical from $549.00 to $630.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Intuitive Surgical currently has an average rating of “Moderate Buy” and a consensus target price of $554.17.

Insider Activity

In other news, EVP Robert Desantis sold 1,012 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $514.00, for a total value of $520,168.00. Following the completion of the transaction, the executive vice president now owns 5,506 shares of the company’s stock, valued at $2,830,084. The trade was a 15.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gary S. Guthart sold 18,151 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $511.63, for a total transaction of $9,286,596.13. Following the sale, the chief executive officer now owns 24,219 shares in the company, valued at approximately $12,391,166.97. This trade represents a 42.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,487 shares of company stock worth $22,590,975 over the last ninety days. 0.90% of the stock is currently owned by insiders.

Intuitive Surgical Company Profile

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.