Shares of Intuitive Surgical (NYSE:ISRG) continue to gain steam, as a 65% jump in the company's Q1 profits sent its shares to a new 52-week high. Intuitive announced Friday that its Q1 revenue had increased 48% year over year, pushing shares up 9% past Thursday's close. The company, which makes robotic surgical equipment, has seen its stock price skyrocket more than 550% since going public in June 2000.
Since acquiring its chief competitor, Computer Motion, in 2003, Intuitive Surgical has owned the robotic-assisted surgical system market, unhindered in its expansion. In Q1, greater recurring revenue and more sales of its da Vinci systems drove revenue growth. Intuitive's da Vinci robotic arm assists surgeons in performing minimally invasive surgeries.
It didn't hurt that each of Intuitive's three principal business segments produced lights-out revenue increases year over year. The instruments and accessories segment grew 73%, while the systems segment increased 32%. (Together, both segments account for 84% of the company's revenue.) The service and training segment also grew sales by 53%.
Fools chasing the next highflier might want to consider Hansen Medical (NYSE:HNSN), which manufactures robotic systems for catheter-based technologies. Since it went public in mid-November, its stock price has already risen 49%. Hansen Medical should release its own Q1 results after today's closing bell. Perhaps da Vinci's robotic arms will be there to give the company a high five.
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Fool contributor Billy Fisher does not own shares of any of the companies mentioned. Intuitive Surgical is a Motley Fool Rule Breakers recommendation. The Fool has a disclosure policy.
