Yesterday, April 20, after the market close Intuitive Surgical (ISRG) reported first quarter GAAP earnings of $3.51 a share, $1.47 a share above Wall Street estimates. Non-GAAP earnings of $3.52 were 89 cents a share above analyst expectations. Revenue for the quarter climbed to $1.3 billion, up 18% from the first quarter of 2020. In 2020 sales of the company’s robotic surgery systems, dropped to $4.4 billion from $4.5 billion in 2019 as hospitals halted elective surgeries during the pandemic. I added the shares to my Jubak Picks Portfolio on February 15, 2021 on expectations with in a post-vaccine global economy sales of its da Vinci Surgical Systems would rebound strongly. In the first quarter the company shipped 298 de Vinci systems versus 237 in the first quarter of 2020.
As of 3:45 p.m. New York time today, Intuitive Surgical share were up 9.50% to $888.10. That exceeds my target of $860 a share and I’ll be looking to sell the shares sometime in the next couple of weeks after I’ve received the full benefit from a positive earnings season for BIG TECH stocks.
The stock is also a member of my long-term 50 Stocks Portfolio. It is up 63.31% since I added it to that portfolio on Janur 28, 2019. I will be keeping this stock in that long-term portfolio even after I sell it out of the 12-18 month Jubak Picks Portfolio.
Full disclosure: I own shares of Intuitive Surgical in my personal portfolios.