Health Care

The following is a summary of the Intuitive Surgical, Inc. (ISRG) Q4 2023 Earnings Call Transcript: Financial Performance: Intuitive Surgical reported overall procedure growth for full year 2023 was 22% year-over-year. Full year 2023 pro forma gross profit margin reported at 68%. In 2023, pro forma operating expenses grew 14%. In 2024, predicted to grow between 11% and 15%. Full year revenue for 2023 was $7.1 billion, 14% growth over 2022, with Q4 revenue of $1.93 billion, an increase of 17% from last year. The company reported 4Q GAAP net income of $606 million, up from $325 million in the fourth quarter of 2022. Full year procedures grew by 22% with 1,370 systems placed with customers, up 8% year-over-year. Business Progress: Strong procedure growth in the US and outside, predominantly within general surgery including cholecystectomy, colon resection and foregut procedures. Fourth quarter 2023 saw 70 systems placed in Japan, reflecting […]

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our target price to $380 from $355, 51.0x our 2025 EPS estimate, above ISRG’s 10-year historical forward average. We keep our 2024 EPS view at $6.55 and initiate our 2025 EPS view at $7.45. Da Vinci procedures grew by a remarkable 22% Y/Y in 2023, in line with preannounced results on Jan. 9 but slightly above our earlier expectation of 21.5% due to high growth in U.S. general surgeries and cancer procedures internationally. ISRG posted Q4 EPS of $1.60 versus $1.23, a noteworthy +30% Y/Y, exceeding the consensus and our estimate by $0.11, driven by robust worldwide Da Vinci procedure growth of 21% Y/Y during the quarter. Q4 revenues of $1.93B came in line with our expectations, up +17% Y/Y as procedure volume continued to

Intuitive Surgical (ISRG) late Tuesday reported a non-GAAP Q4 net income of $1.60 per share, improving on a $1.23 per share adjusted profit during the year-ago period. Analysts polled by Capital IQ, on average, had been expecting the robotic surgery company to earn $1.49 per share. Revenue increased to $1.93 billion during the three months ended Dec. 31 from $1.66 billion during the same quarter in 2022. The analyst consensus had been looking for $1.9 billion in Q4 revenue, according to Capital IQ.

RBC Raises Price Target on Intuitive Surgical to $432 From $400, Sees ‘Substantial Upside Potential’ Ahead, Keeps Outperform Rating.

By Angela Palumbo Intuitive Surgical stock was climbing Wednesday after the company provided positive updates on a new surgical robot and posted fourth-quarter earnings that impressed Wall Street. Intuitive said on its fourth-quarter earnings call Tuesday that it has submitted an application to the Food and Drug Administration for its new surgical robot, the Da Vinci 5. Citi analyst Joanne Wuensch said the announcement was the highlight of the evening and showed that the company is “heralding in another generation of robotic surgery.” She increased her price target on the stock to $428 from $390 while maintaining her Buy rating. For the fourth quarter, Intuitive reported earnings of $1.60 a share, which beat analysts’ estimates of $1.48 a share and rose from last year’s $1.23 a share. Revenue for the quarter was $1.93 billion, which was above last year’s $1.66 billion and in-line with what Intuitive said it expected when

Intuitive Surgical (NASDAQ:ISRG) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/19/2024 11.04% Wells Fargo $363 → $416 Maintains Overweight 01/12/2024 6.77% RBC Capital $380 → $400 Maintains Outperform 01/03/2024 -0.71% Raymond James $310 → $372 Maintains Outperform 12/22/2023 4.1% Truist Securities $375 → $390 Maintains Buy 12/12/2023 0.09% Truist Securities $320 → $375 Maintains Buy 12/04/2023 -11.92% Morgan Stanley $300 → $330 Maintains Equal-Weight 11/17/2023 -6.58% Stifel $315 → $350 Maintains Buy 11/17/2023 -15.12% HSBC → $318 Initiates Coverage On → Buy 10/23/2023 -19.93% Morgan Stanley $330 → $300 Maintains Equal-Weight 10/20/2023 -13.25% Piper Sandler $385 → $325 Maintains Overweight 10/20/2023 -5.24% RBC Capital → $355 Reiterates Outperform → Outperform 10/20/2023 4.1% Citigroup $400 → $390 Maintains Buy 10/20/2023 -3.11% Wells Fargo $386 → $363 Maintains Overweight 10/20/2023 -17.26% Raymond James $368 → $310 Maintains Outperform 10/16/2023 -8.71% Leerink Partners →

Wells Fargo analyst Larry Biegelsen maintains Intuitive Surgical (NASDAQ:ISRG) with a Overweight and raises the price target from $363 to $416.

Intuitive Surgical (NASDAQ:ISRG) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/12/2024 10.14% RBC Capital $380 → $400 Maintains Outperform 01/03/2024 2.43% Raymond James $310 → $372 Maintains Outperform 12/22/2023 7.38% Truist Securities $375 → $390 Maintains Buy 12/12/2023 3.25% Truist Securities $320 → $375 Maintains Buy 12/04/2023 -9.14% Morgan Stanley $300 → $330 Maintains Equal-Weight 11/17/2023 -3.63% Stifel $315 → $350 Maintains Buy 11/17/2023 -12.44% HSBC → $318 Initiates Coverage On → Buy 10/23/2023 -17.4% Morgan Stanley $330 → $300 Maintains Equal-Weight 10/20/2023 -10.51% Piper Sandler $385 → $325 Maintains Overweight 10/20/2023 -2.25% RBC Capital → $355 Reiterates Outperform → Outperform 10/20/2023 7.38% Citigroup $400 → $390 Maintains Buy 10/20/2023 -0.05% Wells Fargo $386 → $363 Maintains Overweight 10/20/2023 -14.64% Raymond James $368 → $310 Maintains Outperform 10/16/2023 -5.83% Leerink Partners → $342 Initiates Coverage On → Outperform 08/17/2023 -0.88% RBC