Medical technology company Intuitive Surgical (NASDAQ: ISRG) will be announcing earnings results this Tuesday afternoon. Here’s what to expect.
Intuitive Surgical beat analysts’ revenue expectations by 3.7% last quarter, reporting revenues of $2.44 billion, up 21.4% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.
Is Intuitive Surgical a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Intuitive Surgical’s revenue to grow 18.3% year on year to $2.41 billion, improving from the 16.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.99 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Intuitive Surgical has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 2.1% on average.
Looking at Intuitive Surgical’s peers in the healthcare equipment and supplies segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Neogen’s revenues decreased 3.6% year on year, beating analysts’ expectations by 2.6%, and Abbott Laboratories reported revenues up 6.9%, in line with consensus estimates. Neogen traded up 3.7% following the results while Abbott Laboratories was down 4.2%.
Read our full analysis of Neogen’s results here and Abbott Laboratories’s results here.
There has been positive sentiment among investors in the healthcare equipment and supplies segment, with share prices up 2.6% on average over the last month. Intuitive Surgical’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $568.40 (compared to the current share price of $447).
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