Record High For Intuitive Surgical As Earnings Beat Estimates (NASDAQ:ISRG)

Shares of Intuitive Surgical, Inc.(NASDAQ:ISRG) are trading at an all-time high boosted by company’s strong first-quarterly earnings, which came ahead of the Wall Street’s analysts estimates. Moreover, the company boosted its full-year forecasts for both revenue and procedure growth.The company now expects its revenue to increase by 19% to 21% this year, 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.Shares of ISRG were recently up 8.10% to $589.66 and made a record high of $594.89 earlier in the session. The stock has risen over 27% so far this year and soared over 65% over the past one year. During the latest quarter, the company recorded a profit of $143.5 million, or $3.50 a share, up from $104.1 million, or $2.59 a share, a year ago, ahead of analysts’ estimates of $3.14 a share.Revenue during the latest quarter grew 28% year-over-year, to $495.2 million, compared to analysts’ estimates of $464.7 million.Gross margin improved to 71.9% from 71.8%.Revenue from instruments and accessories grew 32%, reflecting growth in da Vinci procedures and the roll-out of new products. Revenue from service deals for da Vinci machines soared 27%. Systems revenue, reflecting newly sold machines, surged 24%. Intuitive ‘s motion-capture robots, which have been heavily used for cancer-treating surgeries, such as hysterectomies and prostate removal, have remained in strong demand despite continued economic turbulence and some sluggishness in Europe. The company sold 140 machines in the recent quarter, up 20 from a year ago, and posted 29% growth in procedures.Da Vinci systems sold for nearly $1.5 million, on average, in the recent quarter.Despite the overall strong sales, company officials said system sales in Europe were disappointing and below historical trends. They indicated the company is working to bolster its marketing efforts there.