INTUITIVE SURGICAL REPORTS UPBEAT PRELIMINARY Q4 RESULTS, STOCKS RISE
In the Premarket trading session on Friday, Intuitive Surgical Inc.’s stock was trading at 603.00-higher by 2.94% as compared to its previous close.
Stocks of the medical device company rose today after it released a preliminary quarterly earnings report showing better-than-expected results after the closing bell on Thursday. The preliminary report disclosed that Intuitive Surgical posted $1.28 billion in revenue in the fourth quarter. The revenue was up 22% on a YoY basis. The medical device company shipped 336 systems in the fourth quarter of 2019, up 16% as compared to Q4 of 2018.
Intuitive Surgical reported better-than-expected earnings due to a rise in procedures performed with its da Vinci robotic surgical devices. The medical device company is scheduled to report its final earnings report after the market closes on 23rd January. Stocks of Intuitive Surgical have fallen 0.91% Year to date.
On the technical front, the current price is above the MA20 and the MA50. The current price is above the upper band of the Bollinger Bands and is heading upwards. The stock is expected to trade higher today.
Overall Bias is Positive and short-term trades can be initiated with tight Stop Loss and Profit targets.
TRADE SUGGESTION- LIMIT BUY AT 602.50 TAKE PROFIT AT 607.00 STOP LOSS AT 600.20