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

Intuitive Surgical, Inc. (NASDAQ:ISRG) gapped up before the market opened 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.10. 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 for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the business earned $1.00 EPS. The company’s revenue was up 11.5% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ISRG shares. Jefferies Financial Group lifted their price target on shares of Intuitive Surgical from $365.00 to $375.00 and gave the company a “hold” rating in a research note on Friday. Truist Financial upped their price objective on Intuitive Surgical from $390.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Royal Bank of Canada boosted their target price on Intuitive Surgical from $400.00 to $432.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Stifel Nicolaus lifted their price objective on shares of Intuitive Surgical from $420.00 to $430.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Mizuho raised their target price on shares of Intuitive Surgical from $350.00 to $390.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $378.48.

Insider Activity at Intuitive Surgical

In related news, Director Alan J. Levy sold 2,000 shares of Intuitive Surgical stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $370.20, for a total transaction of $740,400.00. Following the sale, the director now directly owns 25,319 shares of the company’s stock, valued at approximately $9,373,093.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, President David J. Rosa sold 80,710 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $389.28, for a total value of $31,418,788.80. Following the transaction, the president now owns 163,399 shares in the company, valued at approximately $63,607,962.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan J. Levy sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $370.20, for a total transaction of $740,400.00. Following the completion of the transaction, the director now owns 25,319 shares in the company, valued at approximately $9,373,093.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 248,418 shares of company stock valued at $95,927,097. 0.90% of the stock is owned by insiders.

Institutional Trading of Intuitive Surgical

Several hedge funds have recently modified their holdings of the stock. Azzad Asset Management Inc. ADV increased its stake in shares of Intuitive Surgical by 0.3% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 18,952 shares of the medical equipment provider’s stock valued at $7,564,000 after acquiring an additional 56 shares in the last quarter. Naviter Wealth LLC bought a new stake in shares of Intuitive Surgical in the 1st quarter valued at $200,000. Cullinan Associates Inc. increased its stake in shares of Intuitive Surgical by 300.0% in the 1st quarter. Cullinan Associates Inc. now owns 6,400 shares of the medical equipment provider’s stock valued at $2,554,000 after acquiring an additional 4,800 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of Intuitive Surgical by 33.5% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 4,260 shares of the medical equipment provider’s stock valued at $1,700,000 after acquiring an additional 1,070 shares in the last quarter. Finally, Congress Wealth Management LLC DE increased its stake in shares of Intuitive Surgical by 0.5% in the 1st quarter. Congress Wealth Management LLC DE now owns 41,494 shares of the medical equipment provider’s stock valued at $16,560,000 after acquiring an additional 217 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Performance

The firm has a market cap of $132.11 billion, a P/E ratio of 75.96, a price-to-earnings-growth ratio of 5.81 and a beta of 1.36. The stock’s 50 day simple moving average is $387.27 and its 200 day simple moving average is $342.60.

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.