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Intuitive Surgical, Inc. (ISRG) Stock Jumps 4.9%: Will It Continue to Soar?
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Intuitive Surgical, Inc. (ISRG - Free Report) shares rallied 4.9% in the last trading session to close at $256.42. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 4.1% gain over the past four weeks.
Improving earnings estimate for the first quarter of 2023 during the past 30 days is likely driving the share price of the company higher.
This company is expected to post quarterly earnings of $1.17 per share in its upcoming report, which represents a year-over-year change of +3.5%. Revenues are expected to be $1.58 billion, up 6.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Intuitive Surgical, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ISRG going forward to see if this recent jump can turn into more strength down the road.
Intuitive Surgical, Inc. is a member of the Zacks Medical - Instruments industry. One other stock in the same industry, PROCEPT BioRobotics Corporation (PRCT - Free Report) , finished the last trading session 3.5% higher at $29.69. PRCT has returned -22.5% over the past month.
For PROCEPT BioRobotics Corporation, the consensus EPS estimate for the upcoming report has changed -6% over the past month to -$0.57. This represents a change of -46.2% from what the company reported a year ago. PROCEPT BioRobotics Corporation currently has a Zacks Rank of #3 (Hold).
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Intuitive Surgical, Inc. (ISRG) Stock Jumps 4.9%: Will It Continue to Soar?
Intuitive Surgical, Inc. (ISRG - Free Report) shares rallied 4.9% in the last trading session to close at $256.42. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 4.1% gain over the past four weeks.
Improving earnings estimate for the first quarter of 2023 during the past 30 days is likely driving the share price of the company higher.
This company is expected to post quarterly earnings of $1.17 per share in its upcoming report, which represents a year-over-year change of +3.5%. Revenues are expected to be $1.58 billion, up 6.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Intuitive Surgical, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ISRG going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Intuitive Surgical, Inc. is a member of the Zacks Medical - Instruments industry. One other stock in the same industry, PROCEPT BioRobotics Corporation (PRCT - Free Report) , finished the last trading session 3.5% higher at $29.69. PRCT has returned -22.5% over the past month.
For PROCEPT BioRobotics Corporation, the consensus EPS estimate for the upcoming report has changed -6% over the past month to -$0.57. This represents a change of -46.2% from what the company reported a year ago. PROCEPT BioRobotics Corporation currently has a Zacks Rank of #3 (Hold).