Intuitive Surgical shares leap 6% after Q3 profits beat, da Vinci ramp

Intuitive Surgical Inc (NASDAQ: ISRG), a leader in robotic-assisted surgical procedure, saw its shares leap greater than 6% after reporting third-quarter profits that went beyond expert assumptions. The firm’s solid efficiency was driven by boosted fostering of its da Vinci medical systems and development in treatment quantities.

For the quarter finished September 30, Intuitive Surgical reported modified profits per share of $1.84, defeating the expert agreement of $1.64 by $0.20. Revenue was available in at $2.04 billion, surpassing the approximated $2.01 billion and noting a 17% boost from $1.74 billion in the exact same quarter in 2014.

The firm’s da Vinci treatments expanded around 18% YoY, while system positionings boosted to 379 systems, up from 312 in the 3rd quarter of 2023. Notably, 110 of these positionings were the brand-new da Vinci 5 systems. Intuitive’s set up base of da Vinci systems got to 9,539, a 15% YoY boost.

Instruments and devices profits, a vital sign of medical task, increased 18% to $1.26 billion. Systems profits likewise saw development, getting to $445 million contrasted to $379 million in the prior-year quarter.

Gary Guthart, Intuitive’s CHIEF EXECUTIVE OFFICER, talked about the outcomes: “Core measures of our business were healthy this quarter, and we are pleased by customer adoption of da Vinci 5. We remain focused on delivering the goals we share with our customers, centered on improving patient outcomes.”

The firm’s solid monetary setting was highlighted by its money, money matchings, and financial investments equilibrium of $8.31 billion at the quarter’s end, a rise of $628 million throughout the duration.

Jefferies experts raised their ISRG price quotes and the rate target (PT) complying with the record.

“This was a solid quarter with healthy procedure and capital trends and high DV5 interest,” they commented.

The rate purpose was treked from $415 to $475, although the company kept a Hold score based upon evaluation.

Separately, Bernstein experts kept in mind that while da Vinci 5 continues to be in restricted launch via mid-2025, “the pace of progress is very encouraging.”

The financial investment financial institution restated Intuitive Surgical as its leading choice and increased the target rate from $525 to $585.

Senad Karaahmetovic added to this record.

Related Articles

Intuitive Surgical shares jump 6% after Q3 earnings beat, da Vinci ramp

BP weighs sale of minority stake in offshore wind business, sources say

Indonesia stocks higher at close of trade; IDX Composite Index up 0.21%