Intuitive Surgical Inc. (ISRG) Announces Quarterly Earnings Results, Beats Expectations By $1.06 EPS
Intuitive Surgical Inc. (NASDAQ:ISRG) posted its quarterly earnings data on Tuesday. The company reported $6.19 earnings per share for the quarter, topping the consensus estimate of $5.13 by $1.06. Intuitive Surgical had a net margin of 26.80% and a return on equity of 15.25%.
Shares of Intuitive Surgical (NASDAQ:ISRG) traded up 1.73% during midday trading on Tuesday, hitting $721.73. The company had a trading volume of 464,918 shares. The firm has a market capitalization of $27.78 billion, a P/E ratio of 40.96 and a beta of 0.72. Intuitive Surgical has a 12-month low of $471.01 and a 12-month high of $727.25. The firm’s 50-day moving average is $702.11 and its 200-day moving average is $665.53.
Several brokerages have commented on ISRG. Evercore ISI reiterated a “buy” rating and issued a $775.00 price target (up from $750.00) on shares of Intuitive Surgical in a research report on Wednesday, July 20th. Zacks Investment Research cut shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a research report on Tuesday, September 20th. Stifel Nicolaus boosted their price target on shares of Intuitive Surgical from $700.00 to $800.00 and gave the stock a “buy” rating in a research report on Wednesday, July 20th. Citigroup Inc. boosted their price target on shares of Intuitive Surgical from $723.00 to $779.00 and gave the stock a “buy” rating in a research report on Wednesday, July 20th. Finally, Wells Fargo & Co. began coverage on shares of Intuitive Surgical in a research report on Thursday, October 13th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $701.42.
In other Intuitive Surgical news, CFO Marshall Mohr sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $684.09, for a total transaction of $3,420,450.00. Following the transaction, the chief financial officer now owns 6,725 shares in the company, valued at $4,600,505.25. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Mark J. Meltzer sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $688.33, for a total value of $2,064,990.00. Following the transaction, the senior vice president now owns 2,331 shares in the company, valued at approximately $1,604,497.23. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.
A number of institutional investors have recently modified their holdings of ISRG. Sei Investments Co. boosted its position in shares of Intuitive Surgical by 34.7% in the second quarter. Sei Investments Co. now owns 27,475 shares of the company’s stock worth $18,172,000 after buying an additional 7,083 shares during the period. Public Sector Pension Investment Board raised its stake in Intuitive Surgical by 18.1% in the second quarter. Public Sector Pension Investment Board now owns 7,171 shares of the company’s stock worth $4,743,000 after buying an additional 1,100 shares in the last quarter. AXA raised its stake in Intuitive Surgical by 18.5% in the second quarter. AXA now owns 33,400 shares of the company’s stock worth $22,092,000 after buying an additional 5,214 shares in the last quarter. Trexquant Investment LP acquired a new stake in Intuitive Surgical during the second quarter worth approximately $860,000. Finally, Advantus Capital Management Inc raised its stake in Intuitive Surgical by 2.4% in the second quarter. Advantus Capital Management Inc now owns 3,798 shares of the company’s stock worth $2,512,000 after buying an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.
About Intuitive Surgical
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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