Why Intuitive Surgical Shares Are Falling

Intuitive Surgical, Inc. ISRG shares are trading lower by 13.26% at $255.51 after the company reported first-quarter earnings results.

Intuitive Surgical reported quarterly earnings of $1.13 per share which beat the analyst consensus estimate of $1.08. Intuitive Surgical reported quarterly sales of $1.49 billion which beat the analyst consensus estimate of $1.43 billion by 4%.

Commenting on the announcement, Intuitive CEO Gary Guthart said, "Customer demand for our products was healthy in the first quarter despite a challenging global environment. We remain focused on meeting that demand with high-quality products and services while advancing our innovation programs."

Several analysts provided updated ratings following Intuitive Surgical’s first-quarter results:

• Piper Sandler analyst Adam Maeder maintained Intuitive Surgical with an Overweight and raised the price target from $310 to $316.
• Raymond James analyst Jayson Bedford maintained Intuitive Surgical with an Outperform and lowered the price target from $334 to $330.
• Wells Fargo analyst Lawrence Biegelsen maintained Intuitive Surgical with an Overweight and lowered the price target from $350 to $339.

See Also: Why Cleveland-Cliffs Stock Is Surging Today

According to data from Benzinga Pro, Intuitive Surgical has a 52-week high of $369.69 and a 52-week low of $254.20.