Intuitive Surgical (NASDAQ:ISRG) Shares Gap Up Following Earnings Beat

Intuitive Surgical, Inc. (NASDAQ:ISRGGet Free Report)’s stock price gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $372.63, but opened at $385.27. Intuitive Surgical shares last traded at $371.93, with a volume of 678,554 shares trading hands.

The medical equipment provider reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.10. Intuitive Surgical had a net margin of 27.16% and a return on equity of 13.27%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the prior year, the company earned $1.00 EPS. The firm’s quarterly revenue was up 11.5% on a year-over-year basis.

Analyst Upgrades and Downgrades

ISRG has been the subject of a number of recent analyst reports. Raymond James upped their price objective on shares of Intuitive Surgical from $372.00 to $435.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. BTIG Research increased their target price on Intuitive Surgical from $412.00 to $421.00 and gave the stock a “buy” rating in a report on Friday. Piper Sandler lifted their price target on Intuitive Surgical from $425.00 to $435.00 and gave the company an “overweight” rating in a research note on Friday. Mizuho lifted their price target on Intuitive Surgical from $350.00 to $390.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Finally, StockNews.com downgraded Intuitive Surgical from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and a consensus target price of $396.17.

Check Out Our Latest Stock Analysis on ISRG

Insider Activity

In related news, CEO Gary S. Guthart sold 24,325 shares of Intuitive Surgical stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $376.06, for a total transaction of $9,147,659.50. Following the completion of the transaction, the chief executive officer now owns 9,425 shares in the company, valued at $3,544,365.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Mark Brosius sold 196 shares of Intuitive Surgical stock in a transaction dated 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 in the company, valued at $736,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gary S. Guthart sold 24,325 shares of Intuitive Surgical stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $376.06, for a total value of $9,147,659.50. Following the transaction, the chief executive officer now owns 9,425 shares of the company’s stock, valued at approximately $3,544,365.50. The disclosure for this sale can be found here. Insiders sold 248,418 shares of company stock worth $95,927,097 in the last quarter. Corporate insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Intuitive Surgical

Institutional investors have recently made changes to their positions in the company. Baystate Wealth Management LLC boosted its holdings in shares of Intuitive Surgical by 150.0% during the fourth quarter. Baystate Wealth Management LLC now owns 75 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 45 shares during the period. MCF Advisors LLC boosted its holdings in shares of Intuitive Surgical by 108.1% during the fourth quarter. MCF Advisors LLC now owns 77 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 40 shares during the period. Able Wealth Management LLC bought a new stake in shares of Intuitive Surgical during the fourth quarter worth approximately $28,000. Atticus Wealth Management LLC boosted its holdings in shares of Intuitive Surgical by 85.4% during the fourth quarter. Atticus Wealth Management LLC now owns 89 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 41 shares during the period. Finally, MeadowBrook Investment Advisors LLC bought a new stake in shares of Intuitive Surgical during the fourth quarter worth approximately $30,000. Institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Down 1.7 %

The company has a market cap of $129.85 billion, a P/E ratio of 66.13, a PEG ratio of 5.78 and a beta of 1.36. The business has a fifty day moving average price of $386.84 and a 200-day moving average price of $343.48.

About Intuitive Surgical

(Get Free Report)

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.

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