ISRG Stock: Intuitive Surgical Beats First-Quarter Goals


Robotic surgery giant Intuitive Surgical (ISRG) late Thursday beat Wall Street’s targets for the first quarter as elective surgeries rebounded. ISRG stock rose in extended trading.


The Sunnyvale, Calif.-based medtech firm earned an adjusted $1.13 a share on sales of $1.49 billion in the March quarter. Analysts polled by FactSet expected Intuitive to earn $1.08 a share on sales of $1.43 billion. On a year-over-year basis, Intuitive earnings declined 3% while sales increased 15%.

Intuitive’s business has been hampered for the past two years by the Covid-19 pandemic, which has reduced the number of elective surgeries performed.

„Customer demand for our products was healthy in the first quarter despite a challenging global environment,“ Chief Executive Gary Guthart said in a news release.

ISRG Stock Rises Late

In after-hours trading on the stock market today, ISRG stock climbed 2.5% near 302. During the regular session Thursday, ISRG stock fell 2.8% to close at 294.57. It was a down day overall for stocks.

Intuitive makes the da Vinci Surgical System for minimally invasive surgical procedures. It also produces the Ion Endoluminal System, a robotic-assisted platform for conducting minimally invasive biopsies in the lung.

Worldwide, da Vinci procedures grew 19% year over year in the first quarter, despite another Covid resurgence in the period.

The company placed 311 da Vinci Surgical Systems, an increase of 4% from the same quarter last year.

Intuitive Surgical ended the first quarter with an installed base of 6,920 da Vinci systems, up 13% year over year.

Intuitive Stock In Consolidation Pattern

ISRG stock has been consolidating for the past 24 weeks with a buy point of 369.79, according to IBD MarketSmith charts. The buy point is 10 cents above the stock’s all-time high of 369.69, reached on Nov. 5, based on IBD trading principles.

ISRG stock ranks sixth out of 74 stocks in IBD’s Medical Systems/Equipment industry group. It has a decent IBD Composite Rating of 84 out of 99, according to IBD Stock Checkup.

IBD’s Composite Rating combines five separate proprietary ratings into one easy-to-use rating. The best growth stocks have a Composite Rating of 90 or better.

Follow Allison Gatlin on Twitter at @IBD_AGatlin. Follow Patrick Seitz on Twitter at @IBD_PSeitz.


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