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Intuitive Surgical Soars: Stock Hits High as Earnings Impress and da Vinci Demand Surges

AInvestFriday, Oct 18, 2024 6:31 pm ET
1min read

Intuitive Surgical (ISRG) recently experienced a notable surge, with shares reaching their highest point since October 2021. On October 18, the stock rose by 10.01%, underlining the company's strong performance and investor confidence following its impressive third-quarter earnings report.

The company released its fiscal results, showcasing a robust third-quarter revenue of $2.04 billion, surpassing the consensus estimate of $2 billion, marking a 17% increase compared to the previous year. Adjusted earnings per share also exceeded expectations, reported at $1.84 against the projected $1.63. Significant to this growth is the approximately 18% year-over-year increase in global da Vinci procedures, with 379 systems placed during the quarter, including 110 of the new da Vinci 5 systems.

CEO Gary Guthart expressed satisfaction with these results, particularly highlighting the successful adoption of the da Vinci 5 system by clients. He emphasized the company's dedication to improving patient outcomes, a core objective shared with their customers. Intuitive Surgical continues to focus on expanding its footprint in the robotic-assisted surgical sphere, leveraging its advanced technology to drive better surgical results.

The company's financial data further reinforce its upward trajectory. For the period ending September 30, 2024, Intuitive Surgical reported a total revenue of $5.939 billion, reflecting a 14.3% year-over-year growth. Net income showed a significant boost of 37.35%, reaching $1.637 billion. These figures have likely contributed to the positive market response and bullish investor sentiment.

As the company continues to enhance its offerings and expand its technological capabilities, it remains a critical player in the healthcare technology sector. With advancements in robotic-assisted surgeries, Intuitive Surgical's strategic focus on innovation and market expansion positions it well for future growth and sustained financial performance.

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