Intuitive Surges After Profit Beats Analysts’ EstimatesShannon Pettypiece
Intuitive Surgical Inc., the maker of the da Vinci robotic system, rose the most in two years after fourth-quarter profit and sales exceeded analysts’ estimates.
The company gained 9.4 percent to $567.06 at the close in New York, the biggest single-day increase since Jan. 21, 2011. Intuitive reported yesterday that profit in the quarter was $4.25 per share, beating by 21 cents that average of 15 analyst estimates compiled by Bloomberg.
Quarterly sales rose 23 percent to $609 million while analysts had estimated $585 million. Procedures with the da Vinci surgical system, which allows for minimally invasive operations, increased 25 percent from a year earlier, fueled by greater use in gynecology and general surgery, the Sunnyvale, California-based company said.
Intuitive shares had gained 16 percent in the past 12 months through yesterday.