bullish
Intuitive Surgical (ISRG US): Beat-And-Raise 2Q24; Strong Procedure Growth; Solid Da Vinci 5 Rollout
450 Views19 Jul 2024 17:15
SUMMARY
- Intuitive Surgical (ISRG US) posted another strong quarterly result, with key performance indicators including total revenue, procedure growth, system placement, and EPS beating consensus.
- 2Q24 procedure volume growth was 17% (estimate 15.5%) and accelerated from 16% in 1Q24. Intuitive narrowed full-year 2024 procedure growth forecast to 15.5–17.0%. The company raised gross margin guidance.
- Despite phased rollout, 70 da Vinci 5 systems placement in 2Q24 seems impressive. It represents almost half of the total U.S. placement. In 2H24, placement is expected to increase modestly.
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Tina Banerjee
Global Healthcare Analyst
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