Intuitive Surgical reports strong earnings, record high sales, and increase in procedures

From Investopedia: 2024-07-19 14:34:04

Intuitive Surgical’s second quarter profits and sales exceeded expectations, driven by a 17% increase in procedures using their da Vinci robotic surgical device. The company placed 341 machines in medical facilities, noting a rise in procedures that were delayed during the pandemic. Shares hit an all-time high.

Adjusted earnings per share for Intuitive Surgical were $1.46, with revenue increasing to $2.01 billion, surpassing forecasts. Worldwide procedures using the da Vinci system rose 17%, with 341 machines in use at medical facilities. The company reported a 14% increase in total machines in use compared to the previous year.

Despite the impact of COVID-19 on the healthcare industry, Intuitive Surgical saw a rise in procedures as more people underwent surgeries that were delayed during the pandemic. Shares of Intuitive Surgical were up 9% and hit an all-time high, with the stock gaining 34% in 2024.



Read more at Investopedia: Intuitive Surgical Stock Hits Record High as Demand for Its Robotic Devices Surges