Late Thursday, Intuitive Surgical (ISRG) outdid itself — posting 20% growth in procedures using its robotic-surgery system in the third quarter.That was the best growth rate for Intuitive Surgical’s da Vinci Surgical Systems procedures in at least three years. The robotic-surgery outlet credited growth in U.S. general surgery and worldwide urologic procedures for the boom in robotic surgery. Da Vinci is a minimally invasive robotic surgery system.
“We are pleased with our strong third-quarter procedure growth, da Vinci system placements and the financial results that follow,” Chief Executive Gary Guthart said in a written statement.In after-hours trading on the stock market today, Intuitive Surgical stock advanced 2.1%, near 533. Shares closed down 3.8% in regular session, at 522.29, amid a broader sell-off that sent medical systems and equipment stocks down more than 2%, collectively.
Robotic Surgery Shipments Robust
For the third quarter, Intuitive reported adjusted profit of $2.83 a share on $921 million in sales, rising a respective 1.8% and 14% vs. the year-earlier period. Analysts polled by Zacks Investment Research had expected adjusted income of $2.65 a share and $919 million in sales.Intuitive shipped 231 da Vinci systems. Shipments increased nearly 37% year over year. Numerically, it was also the largest number of quarterly shipments in at least three years. The robotic-surgery firm also shipped its first three da Vinci SP Surgical Systems, which are used in narrow access surgeries.Instrument and accessory revenue grew 21% to $486 million. Systems sales rose 5% to $275 million in the third quarter.
SOURCE:https://www.investors.com