These Analysts Revise Their Forecasts On Intuitive Surgical Following Q1 Results
Portfolio Pulse from Avi Kapoor
Intuitive Surgical Inc (NASDAQ:ISRG) reported Q1 revenue of $1.89 billion, surpassing the consensus estimate of $1.87 billion, and adjusted earnings of $1.50 per share, beating estimates of $1.41 per share. Revenue was up 11% year-over-year, and the installed base of da Vinci surgical systems grew by 14%. Despite the positive results, shares fell 0.4% to close at $372.63. Analysts from Baird and Jefferies revised their price targets for ISRG following the earnings announcement, with Baird reducing its target from $440 to $436 while maintaining an Outperform rating, and Jefferies raising its target from $365 to $375 with a Hold rating.
April 19, 2024 | 12:10 pm
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Intuitive Surgical reported strong Q1 results, beating revenue and EPS estimates, but shares fell slightly. Analysts adjusted price targets.
Despite surpassing Q1 revenue and EPS estimates, ISRG's stock price fell slightly, indicating a mixed short-term market reaction. Analyst adjustments to price targets reflect a positive outlook but also suggest market expectations may have already accounted for the positive results.
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RELEVANCE 100