bullish
Intuitive Surgical (ISRG US): Fifth-Generation Device Approval Adds to Secular Growth Story
451 Views15 Mar 2024 22:38
SUMMARY
- On March 14, Intuitive Surgical (ISRG US) received FDA approval for its fifth-generation multiport robotic system, da Vinci 5. The device will deliver meaningful improvements in surgery.
- The company reported strong 4Q23 result, with revenue and EPS beating consensus. 2023 procedure growth of 22% matched the higher end of the company’s guidance range of 21–22%.
- Management has guided for a worldwide da Vinci procedure volume growth of 13–16% YoY in 2024. In the medium-term, ISRG aims to improve gross margin to above 70% level.
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Rising
Tina Banerjee
Global Healthcare Analyst
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- Intuitive Surgical (ISRG US): Q3 Results Beat Expectations; Procedure Growth Forecast Revised Upward18 Oct 2024
- Intuitive Surgical (ISRG US): Beat-And-Raise 2Q24; Strong Procedure Growth; Solid Da Vinci 5 Rollout19 Jul 2024
- Intuitive Surgical (ISRG US): Beat-And-Raise 1Q24; Rising Demand for Robotic Surgery Propels Growth20 Apr 2024
- Intuitive Surgical (ISRG US): Mixed Q3 Result; Encouraging Procedure Growth Is the Key Positive23 Oct 2023
- Intuitive Surgical (ISRG US): Robust Procedure Volume Drove 2Q23 Result; 2023 Outlook Raised22 Jul 2023
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