Intuitive Surgical Stock Has Seen Growth of 34% Year-to-Date

Daniel Collins - Author

Nov. 28 2018, Published 11:05 a.m. ET

Stock performance

Intuitive Surgical’s (ISRG) stock price rose from $364.94 at the close of market on December 29, 2017, to $489.57 on November 23, 2018, reflecting a ~34% year-to-date rise.

Intuitive Surgical stock closed at $489.57 on November 23, a ~36% rise from its 52-week low of $359.75 on December 14, 2017. The stock hit its 52-week high of $581.12 on October 1.

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Financials in a nutshell

Intuitive Surgical’s net revenue in the first nine months of 2018 amounted to $2.7 billion compared to $2.2 billion in the same period of 2017, reflecting a ~19% YoY (year-over-year) rise. In the third quarter, Intuitive Surgical’s medical device peers TransEnterix (TRXC), Mazor Robotics (MZOR), and Align Technology (ALGN) reported revenues of $5.4 million, $10.09 million, and $505.29 million, respectively, compared to $0.18 million, $17.20 million, and $385.27 million, respectively, in the third quarter of 2017.

Intuitive Surgical’s revenue growth could boost the share price of the iShares U.S. Medical Devices ETF (IHI). Intuitive Surgical makes up ~5.40% of IHI’s total portfolio holdings.

Intuitive Surgical’s business segments include Instruments & Accessories, Systems, and Services, which reported net revenues of $1.4 billion, $786.5 million, and $468.5 million, respectively, in the first nine months of 2018, reflecting rises of ~22%, ~21%, and ~11%, respectively, YoY.

Intuitive Surgical’s net operating expenses amounted to $1.0 billion in the first nine months of 2018 compared to $834.1 million in the same period last year.

The company’s net income and diluted EPS in the first nine months of 2018 amounted to $835.4 million and $7.04, respectively, compared to $702.4 million and $6.06, respectively, in the same period last year.

Analysts’ recommendations

Of the 18 analysts tracking Intuitive Surgical in November, seven have recommended “strong buys,” while six have recommended “buys” on the stock. Four analysts have recommended “holds,” and one has recommended a “sell” on the stock.

On November 26, Intuitive Surgical had a consensus 12-month target price of $589.07, which represents a potential ~20.32% return on investment over the next 12 months.


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