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Intuitive Surgical, Inc. (ISRG), headquartered in Sunnyvale, California, is a global leader in robotic-assisted surgical systems. With a market cap of $172.60 billion, Intuitive Surgical develops cutting-edge technologies, including the da Vinci Surgical System, that enable minimally invasive surgeries across various medical fields. The company is set to announce its Q3 earnings after the market closes on Thursday, Oct. 17.
Ahead of the event, analysts expect ISRG to report a profit of $1.25 per share, up 7.8% from $1.16 in the year-ago quarter. The company has surpassed or matched Wall Street’s EPS estimates in its last four quarterly reports.
Its adjusted earnings of $1.47 per share for the last quarter surpassed the consensus estimate by 24.6%. Increased da Vinci system placements, higher procedure volumes, and improved pricing drove Intuitive Surgical's Q2 performance.
For fiscal 2024, analysts expect ISRG to report EPS of $5.22, up 28.9% from $4.05 in fiscal 2023.
ISRG stock is up 42.2% on a YTD basis, significantly outperforming the broader S&P 500 Index's ($SPX) 19.5% gains and the SPDR S&P Health Care Equipment ETF’s (XHE) 2.9% returns over the same time frame.
ISRG stock surged 9.3% following its better-than-expected Q2 earnings report on Jul. 18, driven by a 17% increase in worldwide procedure volumes. Investor sentiment was also fueled by strong demand for its surgical robots and optimism about the broader recovery in medical procedures.
The consensus opinion on ISRG stock is moderately bullish, with an overall “Moderate Buy” rating. Of the 25 analysts covering the stock, 15 advise a “Strong Buy” rating, two suggest a “Moderate Buy,” and eight suggest a “Hold.” ISRG's average analyst price target is $487.65, indicating a potential upside of 1.7% from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
