Why Intuitive Surgical Gained $2.9 Billion in Market Value in May
What happened
Shares of Intuitive Surgical, a developer and manufacturer of robotic-assisted surgical systems for soft-tissue surgeries, rocketed higher by nearly $79 per share last month, adding $2.9 billion in market cap, according to data from S&P Global Market Intelligence. There appear to be two key reasons Intuitive Surgical's share price marched above the $900-per-share mark.
So what
The big catalyst came in mid-May, when investment firm Goldman Sachs initiated coverage on Intuitive Surgical with a "buy" rating and a psychologically delectable price target of $1,000 per share.
Shares of Intuitive Surgical, a developer and manufacturer of robotic-assisted surgical systems for soft-tissue surgeries, rocketed higher by nearly $79 per share last month, adding $2.9 billion in market cap, according to data from S&P Global Market Intelligence. There appear to be two key reasons Intuitive Surgical's share price marched above the $900-per-share mark.
So what
The big catalyst came in mid-May, when investment firm Goldman Sachs initiated coverage on Intuitive Surgical with a "buy" rating and a psychologically delectable price target of $1,000 per share.