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

Intuitive Surgical (NASDAQ:ISRG) announced its quarterly earnings results on Thursday. The medical equipment provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.10, Briefing.com reports. Intuitive Surgical had a net margin of 25.24% and a return on equity of 13.11%. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the company posted $1.00 EPS. The company’s revenue was up 11.5% on a year-over-year basis.

Intuitive Surgical Trading Down 0.4 %

Shares of NASDAQ:ISRG traded down $1.54 during trading on Thursday, reaching $372.63. 2,272,280 shares of the company traded hands, compared to its average volume of 1,644,402. The business’s fifty day moving average is $387.56 and its 200-day moving average is $342.39. The firm has a market capitalization of $132.08 billion, a price-to-earnings ratio of 74.39, a P/E/G ratio of 5.88 and a beta of 1.36. Intuitive Surgical has a 52-week low of $254.85 and a 52-week high of $403.76.

Analyst Upgrades and Downgrades

ISRG has been the topic of a number of research reports. StockNews.com downgraded shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Mizuho upped their target price on Intuitive Surgical from $350.00 to $390.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Truist Financial boosted their target price on shares of Intuitive Surgical from $390.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Piper Sandler raised their target price on Intuitive Surgical from $325.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Finally, Barclays upped their price objective on shares of Intuitive Surgical from $385.00 to $430.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $375.70.

Insider Transactions at Intuitive Surgical

In other Intuitive Surgical news, SVP Mark Brosius sold 196 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $400.00, for a total transaction of $78,400.00. Following the completion of the transaction, the senior vice president now owns 1,842 shares of the company’s stock, valued at $736,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Intuitive Surgical news, VP Marshall Mohr sold 108,790 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $385.08, for a total value of $41,892,853.20. Following the completion of the sale, the vice president now owns 26,877 shares in the company, valued at $10,349,795.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Mark Brosius sold 196 shares of Intuitive Surgical stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $400.00, for a total transaction of $78,400.00. Following the transaction, the senior vice president now directly owns 1,842 shares in the company, valued at approximately $736,800. The disclosure for this sale can be found here. In the last three months, insiders have sold 248,418 shares of company stock worth $95,927,097. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ISRG. O Dell Group LLC purchased a new stake in shares of Intuitive Surgical during the fourth quarter worth about $30,000. PCA Investment Advisory Services Inc. purchased a new position in Intuitive Surgical during the second quarter valued at $35,000. Strategic Investment Solutions Inc. IL bought a new stake in Intuitive Surgical in the 1st quarter worth approximately $39,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Intuitive Surgical by 176.2% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 116 shares of the medical equipment provider’s stock worth $39,000 after acquiring an additional 74 shares during the last quarter. Finally, Cornerstone Planning Group LLC bought a new stake in Intuitive Surgical in the second quarter worth $51,000. Institutional investors own 83.64% of the company’s stock.

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.