Why Intuitive Surgical Stock Is Bolting Higher Today?

Intuitive Surgical's (NASDAQ: ISRG) stock increased as much as 14% in early Wednesday morning trade on high volume.

The shares of the medical equipment business have somewhat cooled off since that explosive start, but as of 1:36 p.m. ET, they were still up a respectable 9%.

Intuitive Surgical announced third-quarter sales of $1.56 billion, up 11% from the same period last year.

Wall Street, on the other hand, anticipated $1.52 billion in revenue.

The company's adjusted earnings came in at $1.19 per diluted share, above analysts' average projection by a respectable 4.3%.

Now that hospitals are no longer required to set aside such a sizable percentage of their resources for treating COVID-19 patients.

Most individuals are not as concerned about the possibility of getting the coronavirus while being hospitalised.

For instance, the expert in robotic surgery is anticipated to report a staggering 12.4% growth in yearly income in 2023.