Intuitive Surgical (NASDAQ:ISRG) Posts Quarterly Earnings Results, Beats Expectations By $0.41 EPS

Intuitive Surgical (NASDAQ:ISRG) released its earnings results on Tuesday. The medical equipment provider reported $2.40 EPS for the quarter, beating the consensus estimate of $1.99 by $0.41, Briefing.com reports. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The business’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period last year, the firm earned $1.84 EPS.

Intuitive Surgical Trading Up 0.9%

ISRG stock opened at $462.74 on Wednesday. The business’s 50-day moving average price is $454.39 and its two-hundred day moving average price is $495.58. The firm has a market cap of $165.88 billion, a PE ratio of 64.54, a P/E/G ratio of 4.81 and a beta of 1.61. Intuitive Surgical has a 1-year low of $425.00 and a 1-year high of $616.00.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Zacks Research cut Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 20th. Robert W. Baird lowered their target price on Intuitive Surgical from $600.00 to $536.00 and set an “outperform” rating for the company in a research note on Wednesday, October 15th. Wells Fargo & Company lifted their price objective on Intuitive Surgical from $559.00 to $599.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Intuitive Surgical in a research note on Wednesday, October 8th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Fifteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $585.05.

Insiders Place Their Bets

In other Intuitive Surgical news, EVP Myriam Curet sold 4,500 shares of Intuitive Surgical stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the transaction, the executive vice president directly owned 353 shares in the company, valued at approximately $173,845.44. The trade was a 92.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Amy L. Ladd sold 336 shares of Intuitive Surgical stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $470.11, for a total value of $157,956.96. Following the transaction, the director owned 1,074 shares in the company, valued at approximately $504,898.14. This represents a 23.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,224 shares of company stock worth $21,716,492. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of Intuitive Surgical

A number of institutional investors have recently modified their holdings of ISRG. Oxford Financial Group LTD. LLC lifted its holdings in shares of Intuitive Surgical by 72.7% in the second quarter. Oxford Financial Group LTD. LLC now owns 330,527 shares of the medical equipment provider’s stock valued at $179,612,000 after purchasing an additional 139,158 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Intuitive Surgical by 72.2% in the second quarter. Corient Private Wealth LLC now owns 309,759 shares of the medical equipment provider’s stock valued at $167,426,000 after purchasing an additional 129,854 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Intuitive Surgical by 211.2% in the second quarter. AQR Capital Management LLC now owns 158,410 shares of the medical equipment provider’s stock valued at $85,741,000 after purchasing an additional 107,504 shares in the last quarter. Sofinnova Investments Inc. lifted its holdings in shares of Intuitive Surgical by 489.5% in the second quarter. Sofinnova Investments Inc. now owns 70,642 shares of the medical equipment provider’s stock valued at $38,388,000 after purchasing an additional 58,658 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new stake in shares of Intuitive Surgical in the second quarter valued at about $30,642,000. 83.64% of the stock is currently owned by institutional investors.

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.