Shares of Intuitive Surgical Inc.
ISRG,
+1.01%
shot up 3.8% into record territory in premarket trading Thursday, after the robotic-assisted surgery and minimally invasive care company announced a three-for-one stock split. The split, which would effectively divide the stock price by three and multiply shares held by investors by three, is expected to take effect on Oct. 5, pending shareholder approval. The stock closed Thursday at $990.88, just below Wednesday's record close of $999.61. The last time a three-for-one stock split went into effect was Oct. 6, 2017, the day after the stock closed at a pre-split-adjusted $1,089.69. The stock has rallied 43.0% over the past 12 months, while the SPDR Health Care Select Sector ETF
XLV,
-0.88%
has gained 25.3% and the S&P 500
SPX,
+0.43%
has advanced 32.3%.