Intuitive Surgical (NASDAQ:ISRG) stock is up in after-hours trading after reporting solid Q1-2024 results. The Robotic-assisted surgery systems company’s revenue grew to $1.89 billion, an 11% increase from $1.7 billion in the previous year and beating estimates of $1.87 billion. This growth was driven by a 16% rise in procedures (14.5% growth was expected) using its da Vinci surgical systems. Furthermore, earnings per share (EPS) of $1.50 beat the $1.42 consensus estimate and came in 22% higher than last year’s EPS of $1.23.
What’s also worth noting is that during the quarter, Intuitive introduced new surgical systems, including the FDA-approved da Vinci 5, which represents the latest advancement in its technology lineup.
Is ISRG Stock a Buy, According to Analysts?
On TipRanks, ISRG stock comes in as a Moderate Buy based on 13 Buys, six Holds, and no Sell ratings assigned in the past three months. The average ISRG stock price target of $423.67 implies 13.7% upside potential.
