Intuitive Surgical Hits Record High On Boosted Earnings (ISRG, WYNN, APH, PJC)
Intuitive Surgical, Inc.(NASDAQ:ISRG) moved up to record highs on Wednesday as the company posted solid first-quarter earnings driven by impressive performance by its da Vinci robotic-surgery machines and growth in procedures. The above estimates results prompted the company to lift its earnings outlook for the full-year.
The company now projects to grow its revenue by 19% to 21% this year, 2% up from the company’s prior 17% to 19% forecast. The company’s new guidance calls for procedure growth of 25% to 27%, up from the prior 24% to 26% target.
During the latest quarter, the company reported profit of $143.5 million, or $3.50 a share, 38% up from its year ago profit of $104.1 million, or $2.59 a share, topping analysts’ estimates by 36 cents.
Revenue during the quarter grew 28%, to $495.2 million, again ahead of analysts’ estimates of $464.7 million.
The company saw strong growth in both general-surgery and gynecological procedures, Chief Executive Gary Guthart said on a conference call with analysts. Newly introduced da Vinci instruments also helped fuel rising sales.
Shares of ISRG are now up 8.64% to $592.66 after hitting a new record high of $594.89 earlier in the session.
Wynn Resorts, Limited(NASDAQ:WYNN) shares climbed 4.87% to $130.85 after Macaubusiness.com said the owner of the Wynn and Encore casinos may sign a land contract for a proposed resort in Cotai, Macau, this month. The company is expected to report a strong Q1 after Thursday’s close, with consensus EPS estimated at $1.41.
Amphenol Corporation(NYSE:APH) shares fell 4% after the company said that it earned 77 cents a share on revenue of $982 million in its first quarter, compared to analysts’ estimates of 76 cents a share on revenue of $972 million.
Piper Jaffray Companies(NYSE:PJC) shares slid 4.20% to $24.35 after the company said that it earned $2.48 million or $0.15 a share, down from $5.71 million or $0.38 per share in the year-ago period. Analysts were estimating the company to report 32 cents a share. Piper Jaffray’s assets under management rose to $13.3 billion from $12.8 billion in the year-ago period.