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What to Expect from Intuitive Surgical's 2Q17 Earnings

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What to Expect from Intuitive Surgical's 2Q17 Earnings PART 1 OF 6

What Wall Street Analysts Recommend for Intuitive Surgical

Analysts’ views

Intuitive Surgical (ISRG) is set to release its 2Q17 results on July 20, 2017. In a Reuters survey of 19 brokerage firms, ~58% of analysts rated Intuitive Surgical a “buy,” and 37% rated it a “hold.” Only one analyst rated the company a “sell.”

Intuitive Surgical is the leader in the surgical robotics industry. For a brief overview of the company, read Your Guide to Intuitive Surgical: Robotic Surgical Systems Leader.

What Wall Street Analysts Recommend for Intuitive Surgical

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Target price

The above chart shows a recommendation summary for Intuitive Surgical over the next year. As of July 14, 2017, the stock’s consensus 12-month target price is $909.2, which amounts to an approximately -3.1% return potential based on ISRG’s closing price of $938.5 on July 13, 2017. This compares to the stock’s 12-month target price of $839.8 following its 1Q17 earnings results.

Peers Stryker (SYK), TransEnterix (TRXC), and Medtronic (MDT) have average broker target prices of $145.3, $3.7, and $92.4, respectively. These figures imply returns of 1.5%, 389%, and 3.7%, respectively, in the next 12 months.

Recommendation upgrades and downgrades

On July 11, 2017, Wells Fargo raised its target price on ISRG stock to $1,050 following the FDA (US Food and Drug Administration) clearance for performing inguinal hernia repairs using Intuitive Surgical’s da Vinci Xi robotic surgical system in June 2017. On July 5, 2017, Leerink Partners also raised its price target on the stock from $850 to $1,080 as the investment firm expressed a positive view on the potential growth opportunity of the company. In June 2017, Cantor Fitzgerald initiated coverage on ISRG stock with a neutral rating.

Series overview

In this series, we’ll discuss the recent stock price performance, key indicators that might impact the company, Wall Street estimates for the stock, the company’s guidance for 2Q17, and key factors that might impact the earnings results. Investors can gain exposure to Intuitive Surgical by investing in the PowerShares QQQ (QQQ), which invests 0.52% of its portfolio in ISRG.

In the next article, let’s look at the company’s 2Q17 revenue expectations.

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