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Based in Sunnyvale, California, Intuitive Surgical, Inc. (ISRG) specializes in advanced robot-assisted surgical systems and related instruments for minimally invasive procedures with a market cap of $154.2 billion. The company is expected to announce its fiscal Q2 earnings results after the market closes on Thursday, July 18.
Ahead of this event, analysts are expecting ISRG to report a profit of $1.17 per share, down marginally from $1.18 per share in the year-ago quarter. The company has met or surpassed Wall Street's bottom-line estimates in each of the past four quarters. Higher demand for its robots used in minimally invasive procedures helped Intuitive Surgical surpass the consensus EPS estimate by 6.4% in the most recent quarter.
For fiscal 2024, analysts expect ISRG to report EPS of $4.80, up 18.5% from $4.05 in fiscal 2023. Looking ahead to fiscal 2025, EPS is expected to grow by 20% annually to $5.76.
ISRG has outperformed the broader markets in 2024, with shares up 30% on a YTD basis versus the S&P 500 Index's ($SPX) 16.1% gain and the S&P 500 Healthcare Sector SPDR's (XLV) 5.1% gain over the same period.
Intuitive Surgical has recently captured attention with its robust performance in Q4 2023, showcasing substantial revenue growth and an uptick in procedural volume for its da Vinci surgical systems, which sets a promising stage for 2024. However, despite the surpassing Q1 earnings result on Apr. 18, the stock declined as investors reacted negatively to the company's lower-than-expected growth forecast for da Vinci procedures in 2024.
Analysts' consensus rating on Intuitive Surgical stock is cautiously optimistic overall, with a "Moderate Buy" rating. Out of 23 analysts covering the stock, 14 recommend a "Strong Buy," two have a "Moderate Buy" rating, and seven give a "Hold" rating.
This configuration is more bullish than three months before, with 13 analysts suggesting a "Strong Buy." Currently, ISRG is trading above the average analyst price target of $426.
On the date of publication, Sohini Mondal 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.
