Intuitive Surgical Stock Hits Record High as Demand for Its Robotic Devices Surges
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Xu Congjun / Feature China / Future Publishing / Getty Images Intuitive Surgical's da Vinci surgical system on display at an expo in Shanghai, China. ' title='Intuitive Surgical's da Vinci surgical system on display at an expo in Shanghai, China. '>
Xu Congjun / Feature China / Future Publishing / Getty Images Intuitive Surgical's da Vinci surgical system on display at an expo in Shanghai, China.
Key TakeawaysIntuitive Surgical exceeded profit and sales for the second quarter on strong demand for its da Vinci robotic surgical device.Procedures using da Vince jumped 17%, and the company placed 341 in medical facilities during the quarter.Intuitive Surgical noted that more people are having medical procedures that they had delayed during the COVID-19 pandemic.
Intuitive Surgical (ISRG) shares traded at an all-time high Friday after the maker of robotic medical devices posted better-than-expected second-quarter results on soaring demand for its da Vinci surgical machine.The company reported adjusted earnings per share of $1.46. Revenue increased 14.5% to $2.01 billion. Both exceeded forecasts. Intuitive Surgical said worldwide procedures with its da Vinci system rose 17%, and it placed 341 in medical facilities, 10 more than in the same period last year. At the end of June it had a total of 9,203 in use, a 14% gain from the end of the first half of 2023.People Having Surgeries Put Off During PandemicThe company said that surgical procedures weren’t hurt by COVID-19, as they were in China during lockdowns there a year ago. The company said that more people are having procedures done that they had put off during the pandemic.Intuitive Surgical shares were up 9% at $453.45 in recent trading, after hitting an all-time high of $456.81. The stock has gained 34% so far in 2024.
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