Intuitive Surgical Inc. News:
In the rapidly advancing field of medical technology, Intuitive Surgical Inc. has emerged as a dominant force, setting new benchmarks for precision and efficiency in surgery. The company recently reported impressive quarterly results, beating Wall Street estimates for both sales and profit. This remarkable achievement was largely attributed to the increased utilization of their surgical robot, da Vinci, and a surge in procedure volumes worldwide.
For the second quarter, Intuitive Surgical reported sales of $1.76 billion, surpassing analysts’ expectations of $1.74 billion. This achievement not only highlights the company’s ability to navigate challenging market conditions but also reflects the growing demand for their da Vinci robotic system worldwide.
One of the key factors contributing to the company’s success was the significant increase in da Vinci procedure volumes. Comparing the second quarter with the same period from the previous year, worldwide procedure volumes rose by an impressive 22%.
The company’s strong financial performance was underlined by their earnings per share (EPS). In the three months ended June 30, Intuitive earned $1.42 per share, exceeding analysts’ average estimate of $1.33 per share. This not only demonstrated the company’s ability to generate revenue but also its proficiency in managing costs and optimizing operations.
Intuitive Surgical Inc Stock Forecast:
Based on the analysis from 20 analysts, the average target price for Intuitive Surgical Inc stock over the next 12 months is USD 370.23. The average analyst rating for the stock is Strong Buy. However, Stock Target Advisor‘s own analysis gives a Neutral rating based on 7 positive signals and 6 negative signals. As of the last closing, the stock price of Intuitive Surgical Inc was USD 347.66. Over the past week, the stock price has increased by +0.20%, over the past month by +6.05%, and over the last year by an impressive +58.59%.
Analysts Coverage Change:
Wells Fargo & Co. maintains an “overweight” rating for Intuitive Surgical Inc. and raises the target price to $386 from $310.
Piper Jaffray Co. maintains an “Overweight” rating and raises the target price to $385 from $315.
RBC maintains an “Outperform” rating for Intuitive Surgical and raises the target price to $360 from $355 on the company’s stock.
