How Intuitive Surgical Stock Gained 19.5% Last Month
Shares of Intuitive Surgical (NASDAQ: ISRG) rose 19.5% in October, according to data from S&P Global Market Intelligence. The maker of da Vinci robotic surgery systems posted third-quarter results on Oct. 21, beating analyst expectations by a country mile. The stock closed 12.9% higher the next day.
Intuitive Surgical saw third-quarter sales rise 23% year over year to $2.51 billion. The gains were led by a 33% increase in system sales. From installed system counts to average procedures per system and revenues per procedure, the company experienced significant growth in all aspects of its business model.
Adjusted net margins expanded from 32.8% to 34.5%, lifting earnings from $1.84 to $2.40 per diluted share. Wall Street's consensus had called for earnings near $1.99 per share on top-line sales in the neighborhood of $2.41 billion. I could go on, but you get the point. Intuitive Surgical's business is firing on every cylinder, resulting in strong top-line growth and lucrative profit margins.
Source Fool.com
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