Intuitive Surgical Inc. (ISRG) Stock Soars on Earnings
Shares of Intuitive Surgical Inc., which makes robotic surgical instruments, skyrocketed Friday after the company reported a 84 percent surge in second-quarter profit and raised its revenue outlook.
The stock jumped $42.76, or 28.5 percent, to $192.84 in afternoon trading, having reached an all-time high of $196.65 earlier in the trading session. Previously, the stock traded between $86.20 and $150.97 over the past year.
Late Thursday, the company said its second-quarter profit jumped 84 percent to $30.7 million, or 79 cents per share, on a 61 percent rise in revenue. The results beat analyst expectations and the company raised its full-year revenue growth outlook to between 45 percent and 50 percent growth, from an earlier forecast for 40 percent growth.
Bear Stearns analyst Rick Wise upgraded the stock to "Outperform" or "Buy," from "Peer Perform," or "Neutral," citing the results and outlook.
The stock jumped $42.76, or 28.5 percent, to $192.84 in afternoon trading, having reached an all-time high of $196.65 earlier in the trading session. Previously, the stock traded between $86.20 and $150.97 over the past year.
Late Thursday, the company said its second-quarter profit jumped 84 percent to $30.7 million, or 79 cents per share, on a 61 percent rise in revenue. The results beat analyst expectations and the company raised its full-year revenue growth outlook to between 45 percent and 50 percent growth, from an earlier forecast for 40 percent growth.
Bear Stearns analyst Rick Wise upgraded the stock to "Outperform" or "Buy," from "Peer Perform," or "Neutral," citing the results and outlook.
Labels: Intuitive Surgical Inc., ISRG
posted by Stock Administrator @ 1:53 PM
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