Provider of minimally invasive care and robotic-assisted surgery equipment Intuitive Surgical (NASDAQ:ISRG) gained in pre-market trading after the company reported better-than-expected fourth-quarter results. The company reported adjusted earnings of $1.60 per diluted share, up by 30.1% year-over-year and above consensus estimates of $1.48 per share.
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The firm generated Q4 revenues of $1.93 billion, an increase of 17% year-over-year, which surpassed analysts’ estimates of $1.6 billion. Intuitive’s robotic-assisted surgery system, Da Vinci, went up by 21% year-over-year worldwide. The company placed 415 da Vinci surgical systems in Q4 compared to 369 in the same period last year.
What is the Target Price for ISRG?
Analysts remain bullish about ISRG stock with a Strong Buy consensus rating based on 10 Buys and three Holds. ISRG stock has jumped by 40% over the past year, and the average ISRG price target of $366.91 implies a downside potential of 1.2% at current levels.
