Why Intuitive Surgical Stock Just Popped
Shares of robotic surgery specialist Intuitive Surgical (NASDAQ: ISRG) jumped Wednesday in response to new guidance the company issued for its fiscal fourth-quarter and full-year 2020 sales. The stock is up 2.8% as of 2:40 p.m. EST.
Although official earnings results aren't due out until Jan. 21, Intuitive has a good enough handle on the numbers already to be able to report that its Q4 sales were about $1.33 billion, or 4% better than reported one year ago.
With procedure volumes and deliveries of da Vinci systems depressed by the pandemic, full-year sales are going to be down -- about 3% lower than in 2019 at $4.36 billion. Nevertheless, TheFly.com notes that both these numbers are ahead of consensus, and that's probably why investors are responding positively to what would otherwise seem rather disappointing numbers.
Source Fool.com
