
Intuitive Surgical Earnings Spark Analysts' Price Target Hike On Wall Street Retail Optimism Jumps
- Analysts raised Intuitive Surgical's price targets after strong Q3 results. Q3 revenue and EPS both exceeded the analysts' consensus estimate. Piper Sandler, RBC Capital and Truist raised their price target on the stock.
Intuitive Surgical, Inc.(ISRG) is receiving strong analyst support following its third‐quarter (Q3) performance, as major firms raised price targets and maintained bullish ratings on its stock.
Piper Sandler boosted its price target to $610 from $595 while keeping an“Overweight” rating, citing a“across‐the‐board robust Q3 print” that hit the top, bottom, and key operating metrics, according to TheFly.
Q3 Revenue And EPS
Intuitive's Q3 climbed 23% year-over-year to $2.51 billion with an adjusted earnings per share (EPS) of $2.40, both exceeding the analysts' consensus estimate of $2.4 billion and $1.99, respectively, according to Fiscal AI data.
Intuitive Surgical stock traded over 14% higher on Wednesday afternoon. On Stocktwits, retail sentiment around the stock improved to 'extremely bullish' from 'bullish' territory the previous day. Message volume shifted to 'extremely high' from 'high' levels in 24 hours.
The stock saw a 2,061% surge in user message count as of Wednesday morning.
What's Driving The Optimism?
RBC Capital lifted its target to $625 from $615, calling out a 4% sales beat and 20% EPS beat, as some concerns, such as dV5 adoption/ramp, hospital environment, and re-manufacturers, may be easing.
Meanwhile, Truist moved its target to $620 from $525 and maintained a“Buy” rating after what the firm called a second consecutive quarter of 20%+ revenue and EPS growth.
RBC described Q3 as“the beginning of the trade‐in and multi‐year replacement cycle” for the company.
Piper noted that the Q3 performance eases“some of the bear arguments,” while Truist emphasized the accelerating momentum behind system placements and utilization.
Intuitive Surgical stock has gained over 2% in the last 12 months.
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