Intuitive Surgical Exceeds All-Time High After Q1 Beat

Intuitive Surgical, Inc. ISRG shares are trading higher by $54.00 (7 percent) at $813.34 in Wednesday's session.

The catalyst for the 7 percent rally in this high-priced issue is its Q1 EPS beat of $0.14 on revenues of $674 million. The company raised FY 2017 procedure growth from 9-12 percent to 12-14 percent.

After a higher open, Intuitive Surgical's stock had nearly a $10.00 retreat to $790.38 before continuing its move higher. The opening print of $800.00 was nearly $25.00 higher than its former all-time high that was made on April 5 at $775.91.

So far, the continuation of the rally has taken the stock to $817.40, but has backed off $4.00 from that level as of 11:16 a.m. EST.

Today's price action is taking place on much heavier than average volume. With just under five hours remaining, 612,000 shares have traded compared to its 20-day average volume of only 306,000.