Intuitive Surgical (NASDAQ:ISRG) Announces Quarterly Earnings Results

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

Intuitive Surgical Stock Performance

NASDAQ ISRG traded down $1.79 during trading on Thursday, reaching $608.66. The company’s stock had a trading volume of 2,283,079 shares, compared to its average volume of 1,821,864. The business’s fifty day moving average price is $544.61 and its 200-day moving average price is $502.64. Intuitive Surgical has a twelve month low of $362.14 and a twelve month high of $616.00. The firm has a market cap of $216.79 billion, a price-to-earnings ratio of 97.86, a P/E/G ratio of 5.13 and a beta of 1.39.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ISRG shares. Morgan Stanley upgraded Intuitive Surgical from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $522.00 to $650.00 in a research report on Monday, December 2nd. The Goldman Sachs Group set a $604.00 price objective on Intuitive Surgical in a research report on Friday, October 18th. BTIG Research boosted their price objective on shares of Intuitive Surgical from $535.00 to $561.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Wells Fargo & Company increased their target price on shares of Intuitive Surgical from $549.00 to $630.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, Truist Financial boosted their price target on shares of Intuitive Surgical from $570.00 to $640.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Intuitive Surgical has an average rating of “Moderate Buy” and an average target price of $554.17.

Insider Transactions at Intuitive Surgical

In related news, EVP Robert Desantis sold 188 shares of Intuitive Surgical stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $506.52, for a total value of $95,225.76. Following the transaction, the executive vice president now directly owns 5,506 shares in the company, valued at $2,788,899.12. This trade represents a 3.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jamie Samath sold 108 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $542.06, for a total transaction of $58,542.48. Following the transaction, the chief financial officer now owns 8,757 shares of the company’s stock, valued at approximately $4,746,819.42. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,487 shares of company stock worth $22,590,975. Company insiders own 0.90% 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.