Zacks: Analysts Expect Intuitive Surgical, Inc. (ISRG) Will Post Quarterly Sales of $752.33 Million
Equities analysts predict that Intuitive Surgical, Inc. (NASDAQ:ISRG) will post sales of $752.33 million for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Intuitive Surgical’s earnings, with the highest sales estimate coming in at $759.10 million and the lowest estimate coming in at $744.00 million. Intuitive Surgical reported sales of $682.90 million during the same quarter last year, which indicates a positive year-over-year growth rate of 10.2%. The company is expected to report its next earnings results after the market closes on Thursday, October 19th.
According to Zacks, 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 fiscal year, analysts forecast that the company will post sales of $3.37 billion per share, with estimates ranging from $3.20 billion to $3.49 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Intuitive Surgical.
Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Thursday, July 20th. The medical equipment provider reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.02. 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 business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.62 EPS.
Several research analysts have commented on the company. Vetr raised Intuitive Surgical from a “hold” rating to a “buy” rating and set a $113.37 price objective on the stock in a research report on Thursday, August 17th. Wedbush restated a “buy” rating on shares of Intuitive Surgical in a research note on Tuesday, October 10th. Cantor Fitzgerald initiated coverage on Intuitive Surgical in a research note on Thursday, June 29th. They set a “neutral” rating and a $111.11 target price for the company. Morgan Stanley restated an “overweight” rating and set a $118.89 target price (up from $105.56) on shares of Intuitive Surgical in a research note on Tuesday, July 25th. Finally, Canaccord Genuity restated a “hold” rating and set a $111.11 target price (up from $96.67) on shares of Intuitive Surgical in a research note on Wednesday, July 26th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $137.11.
In other Intuitive Surgical news, EVP Salvatore Brogna sold 899 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $1,001.90, for a total value of $900,708.10. Following the transaction, the executive vice president now owns 570 shares of the company’s stock, valued at $571,083. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mark J. Meltzer sold 500 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $1,025.00, for a total transaction of $512,500.00. Following the completion of the transaction, the senior vice president now directly owns 2,796 shares in the company, valued at approximately $2,865,900. The disclosure for this sale can be found here. Insiders sold 23,172 shares of company stock valued at $21,923,487 over the last quarter. Insiders own 2.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in Intuitive Surgical by 2,770.9% in the first quarter. BlackRock Inc. now owns 2,846,621 shares of the medical equipment provider’s stock worth $2,181,851,000 after acquiring an additional 2,747,465 shares during the last quarter. FMR LLC lifted its holdings in Intuitive Surgical by 19.6% in the second quarter. FMR LLC now owns 2,724,964 shares of the medical equipment provider’s stock worth $2,548,849,000 after acquiring an additional 447,397 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Intuitive Surgical by 0.8% in the second quarter. Vanguard Group Inc. now owns 2,524,027 shares of the medical equipment provider’s stock worth $2,360,900,000 after acquiring an additional 20,210 shares during the last quarter. Koch Industries Inc. lifted its holdings in Intuitive Surgical by 202,917.0% in the second quarter. Koch Industries Inc. now owns 1,388,636 shares of the medical equipment provider’s stock worth $1,387,000 after acquiring an additional 1,387,952 shares during the last quarter. Finally, Edgewood Management LLC lifted its holdings in Intuitive Surgical by 38.8% in the first quarter. Edgewood Management LLC now owns 919,617 shares of the medical equipment provider’s stock worth $704,859,000 after acquiring an additional 257,165 shares during the last quarter. 31.41% of the stock is currently owned by hedge funds and other institutional investors.
Intuitive Surgical (ISRG) opened at 353.55 on Tuesday. The firm has a market capitalization of $39.40 billion, a PE ratio of 50.80 and a beta of 0.39. The stock’s 50 day moving average price is $347.28 and its 200 day moving average price is $310.58. Intuitive Surgical has a 52-week low of $203.57 and a 52-week high of $367.50.
ILLEGAL ACTIVITY WARNING: This news story was reported by American Banking News and is the property of of American Banking News. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright law. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/10/17/zacks-analysts-expect-intuitive-surgical-inc-isrg-will-post-quarterly-sales-of-752-33-million.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Intuitive Surgical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuitive Surgical Inc. and related companies with MarketBeat.com's FREE daily email newsletter.