Shares of Intuitive Surgical (NSDQ:ISRG) surged nearly 4.1 percent yesterday to a 52-week high of $429.44 on its way to $422.39 close, up 1.6 percent for the day.
The robotic surgery company has been riding high since it crushed Wall Street’s expectations for the third quarter last week.
Intuitive shares surged 10 percent Oct. 19 after it posted profits of $122 million, or $3.05 per diluted share, on sales of $447 million for the three months ended Sept. 30. That compares with profits of $87 million, or $2.91 diluted EPS, on sales of $344 million during the same period last year.
That’s top-line growth of nearly 30 percent and a more-than-healthy 40.2 percent addition to the bottom line.
ISRG shares were trading at $423.13 as of about 11:30 today, up 0.2 percent on the day and 10.5 percent since the earnings report dropped.
Check out these videos of the da Vinci surgical robot peeling grapes, dancing and playing “Operation”
The surge forced Goldman Sachs to raise its price target for the stock from $362 to $412.
“Unless a source of material weakness is displayed by Intuitive Surgical’s business, current momentum in the stock is unlikely to reverse,” according to Goldman Sachs’ analysts.