Medical technology company Intuitive Surgical (NASDAQ: ISRG) will be reporting earnings this Tuesday afternoon. Here’s what to expect.
Intuitive Surgical beat analysts’ revenue expectations last quarter, reporting revenues of $2.87 billion, up 18.8% 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, the market is expecting Intuitive Surgical’s revenue to grow 16.2% year on year, slowing from the 19.2% increase it recorded in the same quarter last year.
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 a history of exceeding Wall Street’s expectations.
Looking at Intuitive Surgical’s peers in the healthcare equipment and supplies segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Neogen’s revenues decreased 4.4% year on year, beating analysts’ expectations by 3.4%, and Abbott Laboratories reported revenues up 7.8%, topping estimates by 1.3%. Neogen traded down 8.9% following the results while Abbott Laboratories was also down 4.6%.
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 9.1% on average over the last month. Intuitive Surgical is down 1.5% during the same time and is heading into earnings with an average analyst price target of $591.51 (compared to the current share price of $470.87).
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