Shares of Intuitive Surgical (NASDAQ: ISRG) rose by 17.9% in April 2023, according to data from S&P Global Market Intelligence. The gains were driven by a surprisingly strong earnings report, followed by a flood of bullish analyst notes.

The company behind the da Vinci line of robotic surgery systems beat Wall Street's expectations soundly in the first quarter of 2023. Earnings rose 9% year over year to $1.23 per share, while revenue increased 14% to $1.7 billion. Your average analyst would have settled for earnings near $1.20 per share on top-line sales of approximately $1.6 billion.

Intuitive Surgical's worldwide da Vinci procedures grew approximately 26% in Q1, and the company delivered 312 da Vinci Surgical Systems, compared with 311 in the same quarter last year. Regulators around the world approved several new da Vinci procedures in the reported period and after the earnings report, expanding the company's target market.

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Source Fool.com