Intuitive Surgical Jumps on Earnings Beat, Price Target Raise

Shares of Intuitive Surgical  (
ISRG) - Get Report were higher on Wednesday after the medical-equipment company's first-quarter results topped estimates and analysts at Piper Sandler increased their price target. 
Analyst Adam Maeder affirmed a neutral rating on the Sunnyvale, Calif., company while lifting the investment firm's price target to $840 a share from $735. 
"Despite some lingering COVID-19 impact in the quarter, the company posted healthy
mid-teens procedure growth and a better-than-expected quarter from a robot placement
perspective driven in part by more operating leases," Maeder said.
Intuitive's earnings of $3.52 a share topped Wall Street expectations of $2.64 a share in a FactSet survey. First-quarter revenue of $1.29 billion rose 18% and beat analyst expectations of $1.11 billion. 

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