Intuitive Surgical (NASDAQ:ISRG) Trading 13.9% Higher After Earnings Beat

Intuitive Surgical, Inc. (NASDAQ:ISRG) rose 13.9% during trading on Wednesday following a better than expected earnings announcement. The company traded as high as $549.85 and last traded at $527.03. Approximately 8,304,241 shares traded hands during mid-day trading, an increase of 292% from the average daily volume of 2,116,015 shares. The stock had previously closed at $462.74.

The medical equipment provider reported $2.40 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.41. Intuitive Surgical had a return on equity of 15.03% and a net margin of 28.58%.The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the previous year, the firm posted $1.84 EPS. Intuitive Surgical’s revenue was up 22.9% on a year-over-year basis.

Analyst Upgrades and Downgrades

ISRG has been the topic of several analyst reports. Raymond James Financial set a $603.00 price objective on Intuitive Surgical and gave the stock an “outperform” rating in a report on Wednesday. UBS Group set a $529.00 price objective on Intuitive Surgical in a report on Monday, October 13th. BTIG Research raised their price objective on Intuitive Surgical from $529.00 to $589.00 and gave the stock a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Intuitive Surgical in a report on Friday, August 22nd. Finally, Royal Bank Of Canada set a $625.00 price objective on Intuitive Surgical and gave the stock an “outperform” rating in a report on Wednesday. Sixteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $599.68.

Insider Transactions at Intuitive Surgical

In other news, insider Gary S. Guthart sold 29,360 shares of Intuitive Surgical stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the sale, the insider directly owned 19,827 shares of the company’s stock, valued at approximately $9,368,059.23. The trade was a 59.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Amy L. Ladd sold 335 shares of Intuitive Surgical stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $440.69, for a total value of $147,631.15. Following the sale, the director directly owned 739 shares in the company, valued at approximately $325,669.91. The trade was a 31.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,224 shares of company stock valued at $21,716,492. 0.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intuitive Surgical

A number of hedge funds have recently bought and sold shares of the company. Aaron Wealth Advisors LLC grew its stake in Intuitive Surgical by 0.8% in the second quarter. Aaron Wealth Advisors LLC now owns 2,528 shares of the medical equipment provider’s stock worth $1,374,000 after purchasing an additional 19 shares in the last quarter. Crown Wealth Group LLC grew its stake in Intuitive Surgical by 4.8% in the first quarter. Crown Wealth Group LLC now owns 440 shares of the medical equipment provider’s stock worth $218,000 after purchasing an additional 20 shares in the last quarter. FSM Wealth Advisors LLC grew its stake in Intuitive Surgical by 3.8% in the first quarter. FSM Wealth Advisors LLC now owns 546 shares of the medical equipment provider’s stock worth $270,000 after purchasing an additional 20 shares in the last quarter. CFO4Life Group LLC grew its stake in Intuitive Surgical by 4.8% in the first quarter. CFO4Life Group LLC now owns 436 shares of the medical equipment provider’s stock worth $216,000 after purchasing an additional 20 shares in the last quarter. Finally, J. W. Coons Advisors LLC grew its stake in Intuitive Surgical by 1.4% in the first quarter. J. W. Coons Advisors LLC now owns 1,497 shares of the medical equipment provider’s stock worth $741,000 after purchasing an additional 20 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Surgical Stock Up 13.9%

The firm has a market capitalization of $188.93 billion, a price-to-earnings ratio of 69.71, a P/E/G ratio of 4.86 and a beta of 1.61. The stock has a 50 day moving average of $455.28 and a 200 day moving average of $495.80.

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.