TECH - Intuitive Surgical Stock Gains 20% YTD: Here's Why | Benzinga
Intuitive Surgical (NASDAQ: ISRG) witnessed strong momentum in the year-to-date period. Shares of the company have gained 20% compared with 8.2% growth of the industry in the same time frame. The S&P 500 Composite has risen 11.5% during the same period.
With healthy fundamentals and strong growth opportunities, this Zacks Rank #3 (Hold) company appears to be a solid wealth creator for its investors at the moment. ISRG's earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters with an average surprise of 6.78%.
Headquartered in Sunnyvale, CA, Intuitive Surgical designs, manufactures and markets the da Vinci surgical system, Ion endoluminal system and related instruments and accessories. The da Vinci surgical system is an advanced robot-assisted surgical system. The surgical system comprises a surgeon's console, patient-side cart, 3-D vision system, da Vinci Skills Simulator and Firefly Fluorescence Imaging. The company operates through three segments —Instruments and Accessories, Systems and Services.
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Catalysts Driving Growth
ISRG's stock price is on the rise, driven by both robust Ion procedure growth and sustained growth in its da Vinci treatment volume. In March 2024, ISRG announced the FDA 510(k) clearance for its da Vinci 5 fifth-generation multiport robotic system. This clearance is likely to boost Intuitive Surgical's business and generate additional revenues. On the first quarter of 2024 earnings call, ...