Intuitive Surgical on Thursday beat estimates for second-quarter profit and revenue on growing demand for its surgical robots used in minimally invasive procedures, sending its shares up 6.7% after the bell.
Investors are optimistic about Intuitive Surgical's (ISRG) strength in robotics.
Intuitive Surgical (NASDAQ: ISRG ) stock is on the move Thursday after the company's shares were given a price target increase by Barclays analysts. Barclays analyst Matt Miksic increased the firm's price target for ISRG stock from $430 per share to $490 per share.
The Intuitive Surgical (NASDAQ: ISRG) stock price is hovering near its all-time highest point on record as investors focus on its upcoming quarterly earnings. It has soared by 30% this year and by over 735% in the past decade, making it one of the most successful medical device companies in Wall Street.
Intuitive Surgical's (ISRG) second-quarter results are likely to reflect solid performance in the Instruments & Accessories segment. However, rising costs might have hurt margins.
Intuitive Surgical's revenue and EPS for Q1 beat estimates, and the stock has risen 17% since the last earnings preview. The release of the da Vinci 5 robotic system is expected to boost sales by encouraging upgrades among current users. Analysts expect Q2 EPS of $1.54 and revenue of $1.97 billion, with a focus on procedure growth and new system placements.
These two stellar companies have performed even better than that in the past 10 years. Both are leaders in their respective niches, with strong moats and solid growth prospects.
ISRG has been outperforming medical device stocks and S&P 500 amid strong earnings growth and technical momentum. More EPS gains are expected over the coming quarters, but the valuation has become a concern. ISRG showing strong technical momentum, with shares breaking out above key resistance.
Intuitive Surgical (ISRG) continues to raise optimism among investors owing to its strength in robotics.
Intuitive Surgical, Inc. (ISRG) closed the most recent trading day at $442.30, moving -0.5% from the previous trading session.
AI stocks are still in the spotlight in the constantly changing financial landscape. They present investors with bright future possibilities through 2024 and beyond.
Intuitive Surgical (ISRG) is making strides in the robotic-assisted surgery market with its existing and new launches. However, macro challenges are likely to continue to hurt its performance.