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Why Intuitive Surgical, Inc. (ISRG) Outpaced the Stock Market Today
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Intuitive Surgical, Inc. (ISRG - Free Report) closed the most recent trading day at $390.96, moving +1.04% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.15%. Meanwhile, the Dow experienced a drop of 0.02%, and the technology-dominated Nasdaq saw an increase of 0.32%.
Prior to today's trading, shares of the company had gained 2.12% over the past month. This has outpaced the Medical sector's loss of 4.03% and the S&P 500's gain of 1.65% in that time.
Market participants will be closely following the financial results of Intuitive Surgical, Inc. in its upcoming release. The company plans to announce its earnings on April 18, 2024. The company's upcoming EPS is projected at $1.40, signifying a 13.82% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $1.86 billion, indicating a 9.94% growth compared to the corresponding quarter of the prior year.
ISRG's full-year Zacks Consensus Estimates are calling for earnings of $6.18 per share and revenue of $7.97 billion. These results would represent year-over-year changes of +8.23% and +11.86%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Intuitive Surgical, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Intuitive Surgical, Inc. is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Intuitive Surgical, Inc. currently has a Forward P/E ratio of 62.63. For comparison, its industry has an average Forward P/E of 26.4, which means Intuitive Surgical, Inc. is trading at a premium to the group.
Meanwhile, ISRG's PEG ratio is currently 4.8. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Medical - Instruments industry had an average PEG ratio of 2.4.
The Medical - Instruments industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 90, positioning it in the top 36% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Why Intuitive Surgical, Inc. (ISRG) Outpaced the Stock Market Today
Intuitive Surgical, Inc. (ISRG - Free Report) closed the most recent trading day at $390.96, moving +1.04% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.15%. Meanwhile, the Dow experienced a drop of 0.02%, and the technology-dominated Nasdaq saw an increase of 0.32%.
Prior to today's trading, shares of the company had gained 2.12% over the past month. This has outpaced the Medical sector's loss of 4.03% and the S&P 500's gain of 1.65% in that time.
Market participants will be closely following the financial results of Intuitive Surgical, Inc. in its upcoming release. The company plans to announce its earnings on April 18, 2024. The company's upcoming EPS is projected at $1.40, signifying a 13.82% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $1.86 billion, indicating a 9.94% growth compared to the corresponding quarter of the prior year.
ISRG's full-year Zacks Consensus Estimates are calling for earnings of $6.18 per share and revenue of $7.97 billion. These results would represent year-over-year changes of +8.23% and +11.86%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Intuitive Surgical, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Intuitive Surgical, Inc. is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Intuitive Surgical, Inc. currently has a Forward P/E ratio of 62.63. For comparison, its industry has an average Forward P/E of 26.4, which means Intuitive Surgical, Inc. is trading at a premium to the group.
Meanwhile, ISRG's PEG ratio is currently 4.8. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Medical - Instruments industry had an average PEG ratio of 2.4.
The Medical - Instruments industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 90, positioning it in the top 36% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.