Intuitive Surgical (ISRG) NewsBite - ISRG Profit Jumps on Strong Sales

Posted on Wednesday, July 23, 2008 10:17 AM

Intuitive Surgical Inc. (ISRG) opened at 313.49. So far today, the stock has hit a low of 313.00 and a high of 326.75. ISRG is now trading at 326.13, up 45.90 (14.64%). The stock hit its 52 week high of 359.59 in December and set its 52 week low of 185.10 in August. ISRG rose at the end of 2007, but has been moving sideways this year. Intuitive Surgical announced yesterday evening its second-quarter profit jumped 66% to $51.2 million on strong sales of its surgical robotics. The company posted earnings of $1.28 per share on revenue of $219.2 million, while analysts forecast a profit of $1.18 per share on revenue of $208.6 million. Technical indicators for the stock are bearish but improving while S&P gives ISRG a positive 4 STARS (out of 5) buy rating. If you’re looking for a hedged play on this stock, consider an August bull-put credit spread below the $280 range. ISRG stock could fall up to 14.1% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]