Corporate earnings season is already in full swing presenting an opportunity to watch the headline revenues and earnings per share of stocks in the market affected by various macro-economic trends. Four weeks ago, Biogen Idec Inc. (NASDAQ:BIIB) and Intuitive Surgical, Inc. (NASDAQ:ISRG) were laggards in the S&P but have since picked up in the market after impressive second-quarter earnings according to Fox Business analyst, Charles Payne.
Payne remains bullish on the two biotech-companies which have continued to show signs of growth in the market despite not being under a close watch of many analysts at Wall Street. Biogen Idec Inc. (NASDAQ:BIIB) and Intuitive surgical were the top gainers on the NASDAQ yesterday.
“Four weeks ago they were laggards Biogen Idec Inc. (NASDAQ:BIIB) is one of them and here is an interesting thing, every Friday in my scoreboard, in my scorecard, I give myself grades and Last week this was my only laggard and I told people don’t give up on Biogen Idec Inc. (NASDAQ:BIIB),” said Charles Payne.
Intuitive Surgical, Inc. (NASDAQ:ISRG) is also doing extremely well in the biotech space attributed to its surgical robot machine, da Vinci Xi System that continues to garner impressive reviews in the medical space. The company’s stock was yesterday up in the market, by 16% even though the market was extremely volatile. Mr. Payne believes Intuitive surgical stock could reach the $700 mark in the market sooner than later.
The company’s da Vinci surgical machine continues to be the driving force behind the recent drive in the market of which Mr. Payne believes there is no competition that could pose any immediate competition going forward.
“This company and their device is just absolutely amazing. You talk to people, from the majority of people who have ever had an operation with that da Vinci machine, and they are blown away; this is a robotic surgery, they are pioneers there is no one who can touch them in the world,” said Mr. Payne.
Intuitive Surgical, Inc. (NASDAQ:ISRG) is, on the other hand, facing stiff hospital capital spending environment that could considerably affect its sales going forward. In the past, the company has also been under fire due to incidents that have raised doubts over the robotic surgical technology.