Why Intuitive Surgical Stock Is Bolting Higher Today
Shares of the robotic surgery giant Intuitive Surgical (NASDAQ: ISRG) rose by as much as 14% on heavy volume in early morning trading Wednesday. The medical device company's shares have pulled back to a degree since that red-hot start, but they were still up by a healthy 9% as of 1:36 p.m. ET.
What fueled Intuitive's northward move? After the closing bell Tuesday, the company released its third-quarter results, which topped Wall Street's consensus estimates on both the bottom and top lines.
Intuitive Surgical reported revenue of $1.56 billion for Q3, an 11% increase compared to the same period a year ago. Wall Street, by contrast, was expecting revenue to come in at $1.52 billion. On the bottom line, it posted adjusted earnings of $1.19 per diluted share, beating analysts' consensus estimate by a healthy 4.3%.
Source Fool.com
