Intuitive Surgical

Intuitive Surgical posted a higher profit in the first quarter as the company’s growth in procedures and its installed robotic surgery systems continued. The Sunnyvale, Calif.-based company reported a profit of $544.9 million, or $1.51 a share, in the quarter ended March 31, compared with $355.3 million, or $1 a share, a year earlier. Analysts polled by FactSet expected per-share earnings of $1.23. Stripping out certain one-time items, adjusted per-share earnings came to $1.50, ahead of the $1.42 forecast by analysts, according to FactSet. Revenue rose 11% to $1.89 billion, beating the $1.87 billion expected by analysts polled by FactSet.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We maintain our 12-month target price at $380, 51.0x our 2025 EPS estimate, above ISRG’s 10-year historical forward average. We lower our 2024 EPS view to $6.41 from $6.55 and keep our 2025 EPS view at $7.45. ISRG reported Q1 EPS of $1.50 versus $1.23 (+22% Y/Y), exactly in line with our estimate and $0.08 above the S&P Capital IQ consensus view. Q1 revenues of $1.89B (+11% Y/Y) were close to expectations, $80M below our forecast and $20M above consensus. Healthy growth in da Vinci procedures continued globally, up 16% Y/Y and system install base rose by 14% Y/Y to 8,887 systems. In March, ISRG received U.S. FDA clearance for its next-generation robotic surgical system, the da Vinci 5, which includes a number of enhancements compared to

Weight-loss drugs seem to have stalled growth in bariatric surgeries for Intuitive Surgical. CEO Gary Guthart says on a call with analysts that the ongoing deceleration in the weight-loss surgeries had continued, and the surgeries were flat year-on-year in 1Q. The company has flagged GLP-1 drugs affecting bariatric procedure numbers in previous quarters, but 1Q was the first period when the procedures did not grow. The lower end of the company’s guidance range assumes continued weakness in bariatric surgeries, while the upper end assumes flat to slightly positive procedures. Shares are up 3.6%, to $386, after hours.

The following is a summary of the Intuitive Surgical, Inc. (ISRG) Q1 2024 Earnings Call Transcript: Financial Performance: Q1 2024 revenue grew at 11%, backed by solid procedure growth and capital placements. Placed 313 da Vinci systems, including eight da Vinci 5 systems. The average system selling price was $1.39 million. Leased systems accounted for 51% of Q1 placements; a proportion expected to grow over time. Gross margin for Q1 2024 was 67.6%, slightly higher than 67.2% for Q1 2023. Operating expenses increased by 7%, leading to a pro forma net income of $544 million, or $1.50 per share. Full-year 2024 procedure growth is forecasted at 14% to 17%. Gross profit margin is expected to be within 67% and 68% of net revenue. Projected operating expense growth is between 11% and 15%. Pro forma income tax is expected to be between 22% and 24% in 2024. Business Progress: Launched da

Citigroup analyst Joanne Wuensch maintains Intuitive Surgical (NASDAQ:ISRG) with a Buy and raises the price target from $428 to $462.

Intuitive (ISRG) late Thursday said its next-generation robotic surgical system given 510(k) clearance by the US Food and Drug Administration for its da Vinci 5 multiport robotic system. The new da Vinci 5 systems includes more than 150 enhancements from its predecessor devices, including improved accuracy and precision, 3D display and image processing and first-of-its-kind “force-sensing” tools. Intuitive is expecting da Vinci 5 will be first available for a handful of US customers who collaborated with the company during its development, providing additional data about the new device ahead of a wider release. Intuitive shares were 3% higher in after-hours activity.

Intuitive Surgical (NASDAQ:ISRG) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/25/2024 4.76% Mizuho $350 → $390 Maintains Neutral 01/25/2024 15.5% Barclays $385 → $430 Maintains Overweight 01/25/2024 16.84% Raymond James $372 → $435 Maintains Outperform 01/24/2024 16.04% RBC Capital $400 → $432 Maintains Outperform 01/24/2024 12.82% Stifel $360 → $420 Maintains Buy 01/24/2024 16.84% Truist Securities $390 → $435 Maintains Buy 01/24/2024 14.16% Piper Sandler $325 → $425 Maintains Overweight 01/19/2024 11.74% Wells Fargo $363 → $416 Maintains Overweight 01/12/2024 7.44% RBC Capital $380 → $400 Maintains Outperform 01/03/2024 -0.08% Raymond James $310 → $372 Maintains Outperform 12/22/2023 4.76% Truist Securities $375 → $390 Maintains Buy 12/12/2023 0.73% Truist Securities $320 → $375 Maintains Buy 12/04/2023 -11.36% Morgan Stanley $300 → $330 Maintains Equal-Weight 11/17/2023 -5.99% Stifel $315 → $350 Maintains Buy 11/17/2023 -14.58% HSBC → $318 Initiates Coverage On →

Intuitive Surgical’s (ISRG) stock price seemingly accounts for the expected launch of its next generation robot, but questions remain whether the new product would help the company achieve its growth metrics, UBS said in a note emailed Tuesday. The company is expected to reveal details about its latest robot at the upcoming Society of American Gastrointestinal and Endoscopic Surgeon, or SAGES, meeting in April. The key to Intuitive Surgical’s shares over the next 12 months will be determined by whether the product can accelerate the company’s procedure volume growth in 2025 and beyond and meaningfully increase the total addressable market, the firm noted. UBS maintained its neutral rating on the company’s stock with a price target of $385.

Intuitive Surgical (NASDAQ:ISRG) reported quarterly earnings of $1.60 per share which beat the analyst consensus estimate of $1.48 by 8.11 percent. This is a 30.08 percent increase over earnings of $1.23 per share from the same period last year. The company reported quarterly sales of $1.93 billion which beat the analyst consensus estimate of $1.87 billion by 3.12 percent. This is a 16.51 percent increase over sales of $1.66 billion the same period last year.

Intuitive Announces Fourth Quarter Earnings 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 system installed base to 8,606      systems as of December 31, 2023, an increase of 14% compared with 7,544      as of the end of the fourth quarter of 2022.   — Fourth quarter 2023 revenue of $1.93 billion increased 17% compared with      $1.66 billion in the fourth quarter of 2022.   — Fourth

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