What's Going On With Intuitive Surgical Stock Wednesday?
Portfolio Pulse from Adam Eckert
Intuitive Surgical Inc (NASDAQ:ISRG) reported Q4 financial results with a 17% year-over-year revenue increase to $1.93 billion, surpassing the $1.87 billion estimate. Earnings per share were $1.60, beating the $1.48 estimate. The company saw a 21% growth in da Vinci procedures and placed 415 da Vinci systems, a 12% increase from the previous year. The installed base grew to 8,606, up 14%. Despite Covid-19 impacts in China, there were no significant disruptions in Q4 2023. The company ended the quarter with $7.34 billion in cash and investments. Analysts generally rate ISRG as a Buy, with Adam Maeder from Piper Sandler being highly optimistic. Over the past three months, ISRG stock rose 47.76%, reflecting positive investor sentiment.
January 24, 2024 | 3:30 pm
News sentiment analysis
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POSITIVE IMPACT
Intuitive Surgical reported strong Q4 results, beating revenue and EPS estimates, with significant growth in da Vinci procedures and system placements. Analysts remain positive on the stock, with a notable rise in the past three months.
The positive earnings report and the growth in procedures and system placements are likely to instill investor confidence and could lead to a short-term uptick in ISRG's stock price. The analyst ratings and recent stock performance further support a positive outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100