Key TakeawaysIntuitive Surgical Inc. beat profit and sales estimates for the fourth quarter as it reported that procedures with its da Vinci surgical robot increased.The company said it didn't see COVID-19 disruptions in surgical procedures in the latest quarter as it did in China in the same quarter of 2022.Intuitive Surgical has applied to U.S. regulators for approval of its next-generation da Vinci platform.Shares of the rose t an all-time high in early trading Wednesday before giving back those gains. I ...

Robotic surgery giant Intuitive Surgical (ISRG) topped earnings views after the bell on Tuesday, marking the company’s fourth consecutive quarterly beat. The company is the maker of the popular da Vinci Surgical System, which enables complex surgery using a minimally-invasive approach.The da Vinci System is powered by robotic technology, which has provided Intuitive Surgical with solid exposure to artificial intelligence for healthcare. The system provides 3D High-Definition vision, enabling surgeons to gai ...

Intuitive Surgical, Inc. (ISRG) reported $1.93 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 16.5%. EPS of $1.60 for the same period compares to $1.23 a year ago.The reported revenue represents a surprise of +0.02% over the Zacks Consensus Estimate of $1.93 billion. With the consensus EPS estimate being $1.47, the EPS surprise was +8.84%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare ...

Financial Data and Key Metrics Changes - Total revenue for 2023 was $7.1 billion, representing a 14% increase compared to 2022 [10][18] - Pro forma earnings per share for 2023 grew 22% year-over-year [18] - Fourth quarter revenue was $1.93 billion, an increase of 17% from the previous year [21] - Pro forma gross margin for Q4 2023 was 68%, slightly down from 68.2% in Q4 2022 [25] - GAAP net income for Q4 2023 was $606 million, or $1.69 per share, compared to $325 million, or $0.91 per share, in Q4 2022 [28] Business Line Data and Key Metrics Changes - Procedures grew by 22% in 2023, with a 21% increase in da Vinci procedures in Q4 [8][19] - The installed base of systems grew 14% to 8,606 systems [19] - Ion procedures saw a 108% increase in Q4, with 16,500 procedures performed [23] - SP procedure growth accelerated to 58% in Q4, with 19 systems placed [24] Market Data and Key Metrics Changes - US procedures grew 17% in Q4, driven by general surgery [19] - OUS procedures grew 29%, with notable strength in China, the UK, Germany, and Japan [19] - In Europe, growth was led by general surgery and gynecology procedures, particularly in Germany, the UK, and France [36] Company Strategy and Development Direction - The company plans to focus on innovation through the launch of the da Vinci 5 platform and increased adoption of priority procedures [15][41] - The strategy includes improving care team satisfaction and lowering treatment costs [12] - The company aims to enhance gross margin and productivity, particularly in functions benefiting from scale [15][32] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth in procedures and system utilization, indicating strong customer belief in their platforms [11] - The anticipated launch of da Vinci 5 is expected to impact operating margins in 2024 due to increased depreciation and a mix of new platform revenues [32][41] - The company expects procedure growth to moderate in 2024, with guidance of 13% to 16% growth [41] Other Important Information - The company repurchased $416 million of its stock in 2023, with a remaining authorization of $1.1 billion [18] - The company initiated local production of excise systems in China to meet tender requirements [26] - The company expects capital expenditures in 2024 to be between $1 billion and $1.2 billion, primarily for facility construction [43] Q&A Session Summary Question: Can you provide a framework for the financial implications of the new system beyond 2024? - Management indicated that the dynamics for da Vinci 5 are different from the Xi launch, and further comments will be made post-clearance [46] Question: What are the expectations for the ASP uplift with da Vinci 5? - Management refrained from providing specific ASP details until after clearance, noting differences from previous systems [55] Question: Can you discuss the supply chain challenges for Ion and SP? - Management acknowledged ongoing supply constraints for Ion and indicated progress is being made to resolve these issues [64] Question: What is the outlook for system placements in China? - Management expects system placements in China to be impacted through the first half of 2024 due to ongoing anti-corruption efforts [69] Question: Can you elaborate on the procedure growth guidance for 2024? - Management provided guidance of 13% to 16% growth, with expectations of moderation from the previous year [41]

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SUNNYVALE, Calif., Jan. 23, 2024 (GLOBE NEWSWIRE) -- Intuitive (the "Company") (NASDAQ:ISRG), a global technology leader in minimally invasive care and the pioneer of robotic-assisted surgery, today announced financial results for the quarter ended December 31, 2023. Q4 Highlights Worldwide da Vinci procedures grew approximately 21% compared with the fourth quarter of 2022.The Company placed 415 da Vinci surgical systems, compared with 369 in the fourth quarter of 2022.The Company grew its da Vinci surgical ...

Intuitive Surgical, Inc. (ISRG) is scheduled to release fourth-quarter 2023 results on Jan 23, after the closing bell.The company’s shares have risen 46.4% in the past year against the industry’s 1.1% decline. The S&P 500 Index gained 21.3% in the same time frame.In the last reported quarter, ISRG delivered an earnings surprise of 7.58%. Its earnings beat estimates in three of the trailing four quarters and missed the same in one, delivering an average surprise of 3.03%.Image Source: Zacks Investment Resear ...

The latest trading session saw Intuitive Surgical, Inc. (ISRG) ending at $374.82, denoting a +0.78% adjustment from its last day's close. This change lagged the S&P 500's 1.23% gain on the day. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq added 1.7%.Shares of the company have appreciated by 11.54% over the course of the past month, outperforming the Medical sector's gain of 3.16% and the S&P 500's gain of 0.94%.Analysts and investors alike will be keeping a close eye on the performance of In ...

Intuitive Surgical, Inc. (ISRG) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Shares of this company have returned +11.5% over the past month versus the Zacks S&P 500 composite's +0.9% change. The Zacks Medical - Instruments industry, to which Intuitive Surgical, Inc. belongs, has gained 3.1% over this period. Now the key question is: Where could the stock be hea ...

Intuitive Surgical Inc. (ISRG, Financial) is an absolute monster of a health care stock. The company has returned over 600% over the past 10 years, easily dwarfing the 160% returns of the S&P 500 Index. Over the same period, the Health Care Select Sector ETF (XLV, Financial) returned 148%. Most of the growth in Intuitive Surgical was seen as hospitals, large medical institutions and integrated delivery networks such as Kaiser Permanente jumped onto the trend of using its robotic surgery systems at their hea ...