$752.33 Million in Sales Expected for Intuitive Surgical, Inc. (ISRG) This Quarter
Wall Street brokerages predict that Intuitive Surgical, Inc. (NASDAQ:ISRG) will post $752.33 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Intuitive Surgical’s earnings, with estimates ranging from $744.00 million to $759.10 million. Intuitive Surgical reported sales of $682.90 million in the same quarter last year, which indicates a positive year over year growth rate of 10.2%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, October 17th.
On average, analysts expect that Intuitive Surgical will report full-year sales of $752.33 million for the current year, with estimates ranging from $2.89 billion to $3.05 billion. For the next year, analysts anticipate that the firm will report sales of $3.37 billion per share, with estimates ranging from $3.20 billion to $3.49 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Intuitive Surgical.
Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Thursday, July 20th. The medical equipment provider reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.05. The business had revenue of $756.20 million during the quarter, compared to analysts’ expectations of $724.51 million. Intuitive Surgical had a return on equity of 15.99% and a net margin of 28.44%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.87 earnings per share.
A number of research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Intuitive Surgical from a “hold” rating to a “buy” rating and set a $345.00 price target for the company in a research report on Thursday, June 8th. Stifel Nicolaus restated a “buy” rating and set a $366.67 price target (up from $283.33) on shares of Intuitive Surgical in a research report on Saturday, July 22nd. Leerink Swann restated an “outperform” rating on shares of Intuitive Surgical in a research report on Wednesday, July 5th. Morgan Stanley restated an “overweight” rating on shares of Intuitive Surgical in a research report on Tuesday. Finally, Royal Bank Of Canada boosted their price target on shares of Intuitive Surgical from $266.67 to $316.67 and gave the company a “sector perform” rating in a research report on Tuesday, July 18th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $366.12.
In other news, EVP Salvatore Brogna sold 899 shares of Intuitive Surgical stock in a transaction on Friday, September 1st. The shares were sold at an average price of $1,001.90, for a total transaction of $900,708.10. Following the completion of the sale, the executive vice president now directly owns 570 shares of the company’s stock, valued at approximately $571,083. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gary S. Guthart sold 17,975 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $937.27, for a total transaction of $16,847,428.25. Following the completion of the sale, the chief executive officer now directly owns 101,798 shares of the company’s stock, valued at $95,412,211.46. The disclosure for this sale can be found here. Insiders have sold a total of 26,172 shares of company stock valued at $24,584,757 over the last ninety days. 2.20% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the business. Guardian Life Insurance Co. of America lifted its stake in Intuitive Surgical by 2.2% in the first quarter. Guardian Life Insurance Co. of America now owns 142 shares of the medical equipment provider’s stock worth $109,000 after purchasing an additional 3 shares during the last quarter. ETF Managers Group LLC bought a new stake in Intuitive Surgical in the second quarter worth $110,000. D. Scott Neal Inc. bought a new stake in Intuitive Surgical in the second quarter worth $120,000. Harvest Fund Management Co. Ltd bought a new stake in Intuitive Surgical in the second quarter worth $120,000. Finally, Parallel Advisors LLC lifted its stake in Intuitive Surgical by 10.1% in the first quarter. Parallel Advisors LLC now owns 153 shares of the medical equipment provider’s stock worth $129,000 after purchasing an additional 14 shares during the last quarter. 94.23% of the stock is owned by institutional investors and hedge funds.
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Shares of Intuitive Surgical (NASDAQ:ISRG) opened at 1042.59 on Friday. Intuitive Surgical has a 52 week low of $610.71 and a 52 week high of $1,054.77. The company has a 50 day moving average price of $969.63 and a 200 day moving average price of $873.73. The company has a market capitalization of $38.73 billion, a PE ratio of 49.94 and a beta of 0.38. Intuitive Surgical’s stock is scheduled to split before the market opens on Friday, October 6th. The 3-1 split was announced on Friday, August 11th. The newly created shares will be distributed to shareholders after the market closes on Thursday, October 5th.
Intuitive Surgical Company Profile
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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