Why Intuitive Surgical Stock Surged Higher Today
Shares of robotic-assisted surgery pioneer Intuitive Surgical (NASDAQ: ISRG) were up 6% as of 12:45 p.m. ET on Wednesday, according to data provided by S&P Global Market Intelligence.
This morning, Intuitive Surgical announced preliminary fourth-quarter earnings that far exceeded analysts' expectations. Even though the company's shares are priced for perfection (trading at 73 times next year's earnings), the market rewarded the stock for its outstanding results in Q4.
Analysts expected Intuitive Surgical to grow revenue by roughly 14% during its final quarter of 2024. So it was a pleasant surprise for investors when the company preliminarily announced that its Q4 sales would jump by a surprising 25% instead.
Source Fool.com
