Da Vinci sales drive up intuitive surgery market share

Key Points

  • Medical Equipment maker Intuitive Surgical (ISRG) reported earnings growth driven by its da Vinci robotic surgical system.
  • The company also reported an increase in customer base for its mini-surgical system. invasive.
  • Intuitive Surgical shares rose more than 10% in response to the strong first quarter earnings report.

Shares of Intuitive Surgical (ISRG) jumped more than 10% after its first-quarter earnings report showed the company boosted profits by expanding procedures for its robot-assisted surgical equipment.

Revenue for the first quarter of 2023 was up 14% year over year to $1.7 billion, with earnings of $1.23 per share, both above analyst estimates. Procedures for its da Vinci robotic surgical system rose 26%, while the company also reported a 12% increase from 2022 in its consumer base for its minimally invasive surgical system.

"Our core activity was driven by positive surgical trends and continued interest in robot-assisted surgery over other surgical approaches, & # 34; said Gary Guthart, CEO of Intuitive.

The good results of ;Intuitive in the first quarter of 2023 contrasts with disappointing results in the second and fourth quarters of 2022, when supply chain disruptions and lower hospital spending dragged its shares lower.

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Source: investopedia.com

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