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Intuitive Surgical’s stock is currently trading at 515.26-higher by 0.95% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 3.34%. The stock has pared some of its earlier gains after the opening bell.
The surgical device maker reported its first-quarter earnings after the market close on Thursday. Intuitive Surgical generated an adjusted EPS of $2.69 for the first quarter of 2020. The EPS was above the consensus estimates of $2.64. The company brought in $1.1 billion in revenue for the first quarter. The revenue was also above the consensus estimates of $1.05 billion.
The surgical device maker’s Q1 revenue exceeded market expectations due to an 11% rise in the installed base of Intuitive Surgical’s da Vinci surgical systems and an increase in procedures using da Vinci. The surgical device maker shipped 237 da Vinci systems in the first quarter. It was 1% up as compared to a year ago. Stocks of Intuitive Surgical have fallen about 12% Year-to-date.
On the technical front, the RSI is currently at 54.55% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is above the middle line of the Bollinger bands and is heading upwards.
Overall Bias is Positive and short-term trades can be initiated with tight Stop Loss and Profit target.
TRADE SUGGESTION- LIMIT BUY AT 514 TAKE PROFIT AT 524 STOP LOSS AT 509