Intuitive Surgical

Intuitive Surgical (ISRG) late Tuesday reported a non-GAAP Q4 net income of $1.60 per share, improving on a $1.23 per share adjusted profit during the year-ago period. Analysts polled by Capital IQ, on average, had been expecting the robotic surgery company to earn $1.49 per share. Revenue increased to $1.93 billion during the three months ended Dec. 31 from $1.66 billion during the same quarter in 2022. The analyst consensus had been looking for $1.9 billion in Q4 revenue, according to Capital IQ.

RBC Raises Price Target on Intuitive Surgical to $432 From $400, Sees ‘Substantial Upside Potential’ Ahead, Keeps Outperform Rating.

By Angela Palumbo Intuitive Surgical stock was climbing Wednesday after the company provided positive updates on a new surgical robot and posted fourth-quarter earnings that impressed Wall Street. Intuitive said on its fourth-quarter earnings call Tuesday that it has submitted an application to the Food and Drug Administration for its new surgical robot, the Da Vinci 5. Citi analyst Joanne Wuensch said the announcement was the highlight of the evening and showed that the company is “heralding in another generation of robotic surgery.” She increased her price target on the stock to $428 from $390 while maintaining her Buy rating. For the fourth quarter, Intuitive reported earnings of $1.60 a share, which beat analysts’ estimates of $1.48 a share and rose from last year’s $1.23 a share. Revenue for the quarter was $1.93 billion, which was above last year’s $1.66 billion and in-line with what Intuitive said it expected when

Intuitive Surgical (NASDAQ:ISRG) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/19/2024 11.04% Wells Fargo $363 → $416 Maintains Overweight 01/12/2024 6.77% RBC Capital $380 → $400 Maintains Outperform 01/03/2024 -0.71% Raymond James $310 → $372 Maintains Outperform 12/22/2023 4.1% Truist Securities $375 → $390 Maintains Buy 12/12/2023 0.09% Truist Securities $320 → $375 Maintains Buy 12/04/2023 -11.92% Morgan Stanley $300 → $330 Maintains Equal-Weight 11/17/2023 -6.58% Stifel $315 → $350 Maintains Buy 11/17/2023 -15.12% HSBC → $318 Initiates Coverage On → Buy 10/23/2023 -19.93% Morgan Stanley $330 → $300 Maintains Equal-Weight 10/20/2023 -13.25% Piper Sandler $385 → $325 Maintains Overweight 10/20/2023 -5.24% RBC Capital → $355 Reiterates Outperform → Outperform 10/20/2023 4.1% Citigroup $400 → $390 Maintains Buy 10/20/2023 -3.11% Wells Fargo $386 → $363 Maintains Overweight 10/20/2023 -17.26% Raymond James $368 → $310 Maintains Outperform 10/16/2023 -8.71% Leerink Partners →

Wells Fargo analyst Larry Biegelsen maintains Intuitive Surgical (NASDAQ:ISRG) with a Overweight and raises the price target from $363 to $416.

Intuitive Surgical (NASDAQ:ISRG) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/12/2024 10.14% RBC Capital $380 → $400 Maintains Outperform 01/03/2024 2.43% Raymond James $310 → $372 Maintains Outperform 12/22/2023 7.38% Truist Securities $375 → $390 Maintains Buy 12/12/2023 3.25% Truist Securities $320 → $375 Maintains Buy 12/04/2023 -9.14% Morgan Stanley $300 → $330 Maintains Equal-Weight 11/17/2023 -3.63% Stifel $315 → $350 Maintains Buy 11/17/2023 -12.44% HSBC → $318 Initiates Coverage On → Buy 10/23/2023 -17.4% Morgan Stanley $330 → $300 Maintains Equal-Weight 10/20/2023 -10.51% Piper Sandler $385 → $325 Maintains Overweight 10/20/2023 -2.25% RBC Capital → $355 Reiterates Outperform → Outperform 10/20/2023 7.38% Citigroup $400 → $390 Maintains Buy 10/20/2023 -0.05% Wells Fargo $386 → $363 Maintains Overweight 10/20/2023 -14.64% Raymond James $368 → $310 Maintains Outperform 10/16/2023 -5.83% Leerink Partners → $342 Initiates Coverage On → Outperform 08/17/2023 -0.88% RBC

Intuitive Surgical is still grappling with a slowdown in demand for bariatric surgeries due to the rise of GLP-1 medications like Ozempic, Chief Executive Gary Guthart tells an audience at the JPMorgan Healthcare Conference. “The deceleration hasn’t stopped,” he says. “We’re still growing, but it’s decelerating.” What that means for the longterm outlook for bariatric weight-loss surgeries is unclear. Company executives have previously said they expect the GLP-1-related slowdown to only be short term. Shares rise 10%.

Intuitive Surgical Announces Preliminary Fourth Quarter and Full Year 2023 Results SUNNYVALE, Calif., Jan. 09, 2024 (GLOBE NEWSWIRE) — Intuitive Surgical (the “Company”) (Nasdaq: ISRG), a global technology leader in minimally invasive care and the pioneer of robotic-assisted surgery, today announced certain unaudited preliminary fourth quarter and full year 2023 financial results ahead of its presentation at the 42nd Annual J.P. Morgan Healthcare Conference on January 10, 2024. Financial and Operational Highlights — Fourth quarter 2023 worldwide da Vinci procedures grew approximately 21% compared with the fourth quarter of 2022. The comparative fourth quarter of 2022 reflected a resurgence of COVID-19 in China, which negatively impacted procedure volumes in the region. — Full year 2023 worldwide da Vinci procedures grew approximately 22% compared with 2022. The Company expects worldwide da Vinci procedures to increase approximately 13% to 16% in 2024 as compared to 2023. — The Company placed 415 da

Intuitive Surgical Reports Preliminary Q4 Revenue of About $1.93 Billion, Vs CIQ Analyst Consensus of $1.88 Billion.

Intuitive Surgical (ISRG) said late Tuesday it expects Q4 revenue of about $1.93 billion, up 17% compared with $1.66 billion a year earlier. Analysts polled by Capital IQ expect $1.88 billion. The company said it expects 2023 revenue of about $7.12 billion, up 14% compared with $6.22 billion a year earlier. Analysts surveyed by Capital IQ expect $7.07 billion.

Intuitive Surgical (NASDAQ:ISRG) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/03/2024 15.64% Raymond James $310 → $372 Maintains Outperform 12/22/2023 21.24% Truist Securities $375 → $390 Maintains Buy 12/12/2023 16.58% Truist Securities $320 → $375 Maintains Buy 12/04/2023 2.59% Morgan Stanley $300 → $330 Maintains Equal-Weight 11/17/2023 8.81% Stifel $315 → $350 Maintains Buy 11/17/2023 -1.14% HSBC → $318 Initiates Coverage On → Buy 10/23/2023 -6.74% Morgan Stanley $330 → $300 Maintains Equal-Weight 10/20/2023 1.03% Piper Sandler $385 → $325 Maintains Overweight 10/20/2023 10.36% RBC Capital → $355 Reiterates Outperform → Outperform 10/20/2023 21.24% Citigroup $400 → $390 Maintains Buy 10/20/2023 12.85% Wells Fargo $386 → $363 Maintains Overweight 10/20/2023 -3.63% Raymond James $368 → $310 Maintains Outperform 10/16/2023 6.32% Leerink Partners → $342 Initiates Coverage On → Outperform 08/17/2023 11.91% RBC Capital → $360 Reiterates Outperform → Outperform 07/24/2023 2.59%

Raymond James analyst Jason Bednar maintains Intuitive Surgical (NASDAQ:ISRG) with a Outperform and raises the price target from $310 to $372.