bullish
Intuitive Surgical (ISRG US): Mixed Q3 Result; Encouraging Procedure Growth Is the Key Positive
369 Views23 Oct 2023 19:40
SUMMARY
- In 3Q23, Intuitive Surgical (ISRG US) recorded 12% YoY revenue growth to $1.74B, driven by growth in da Vinci procedure volume and an increase in the installed base of systems.
- 3Q23 procedure growth was 19%, versus 20% in 3Q22 and 22% in 2Q23. Systems revenue declined 11%, due to higher number of systems placed under lease and lower China demand.
- The company now expects 2023 procedure volume growth of 21–22%, up from previous estimates of 20–22%. Significant material supply chain disruptions or hospital capacity constraints are not expected.
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Tina Banerjee
Global Healthcare Analyst
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