Intuitive Surgical At 52-Week High: What's Driving The Stock?
Zacks Investment Research | Aug 15, 2017 09:51PM ET
Share price of Sunnyvale, CA-based Intuitive Surgical Inc (NASDAQ:ISRG) scaled a new 52-week high of $990.14 on Aug 15, eventually closing a bit lower at $985.42. The company has gained 15.8% over the last three months, much better than the S&P 500’s 4.6% rise and the broader industry’s gain of 1.4%. Taking the stable performance of the stock into consideration, we expect Intuitive Surgical to scale higher in the coming quarters. The company’s positive long-term growth of 9.1% also holds promise.
Average volume of shares traded over the last one year was remarkable at approximately 344.3K. The stock has a market cap of $36.60 billion. Over the last 30 days, two analysts have raised their earnings estimates for the current year, while one has slashed the estimate. The net effect has taken the Zacks Consensus Estimate for the current quarter from $20.16 per share to $20.58.
Catalysts
The market is upbeat about Intuitive Surgical’s licensing agreement with JustRight Surgical. The deal enables Intuitive Surgical with a global license to JustRight Surgical’s intellectual property in energy-based vessel sealing and tissue stapling technologies for use in the robotics field. Joint product development and an equity financing arrangement are also part of the agreement.
Intuitive Surgical, Inc. Price and Consensus
Edwards Lifesciences has a long-term expected earnings growth rate of 15.2%. The stock has gained around 2.7% over the last three months.
Align Technology has a long-term expected earnings growth rate of 26.6%. The stock has rallied roughly 30.8% over the last three months.
Lantheus Holdings has a long-term expected earnings growth rate of 12.5%. The stock has gained 6.7% over the last three months.
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