Intuitive Surgical Stock Jumps After Q1 Earnings Beat Amid da Vinci Robotic System Growth

Earnings and Revenue Performance - Intuitive Surgical reported adjusted earnings of $1 50 per share for Q1 2024, surpassing Wall Street's estimate of$1 41 per share [2] - Revenue for the quarter reached $1 89 billion, an 11$1 87 billion [2] - The company's instruments and accessories business saw an 18% sales growth, driven by a 16% increase in da Vinci procedure volume and a 90% surge in Ion procedure volume [2] Product and Market Developments - The da Vinci robotic platform achieved a 16% year-over-year global procedure growth [1] - The next-generation da Vinci 5 robotic system received FDA clearance in March 2024, with eight systems placed by the end of Q1 [2] - The Ion procedure, a robot-assisted biopsy, contributed significantly to the growth in procedure volumes [2] Industry Trends and Competitor Insights - Growing demand for robotics-assisted procedures aligns with Johnson & Johnson's recent remarks, indicating elevated medical technology-related procedure volumes through 2024 [3] - The medical devices industry is experiencing increased adoption of robotic solutions for minimally invasive surgeries [1][3] Stock Performance and Technical Analysis - Intuitive Surgical shares rose over 3% in after-hours trading following the earnings report [1] - The stock has been rangebound since early March 2024, with potential resistance around the $403 level, identified by a trendline linking three recent price peaks [1][3] - A golden cross buy signal was generated in late December 2023, when the 50-day moving average crossed above the 200-day moving average [3]