bullish
Intuitive Surgical (ISRG US): Robust Procedure Volume Drove 2Q23 Result; 2023 Outlook Raised
313 Views22 Jul 2023 18:22
SUMMARY
- In 2Q23, Intuitive Surgical (ISRG US) recorded 15% YoY revenue growth to $1.76B, driven by growth in da Vinci procedure volume and an increase in the installed base of systems.
- 2Q23 procedure growth was 22%, compared to 14% for 2Q22 and 26% last quarter. Areas of strength included general surgery and gynecology for benign conditions, particularly in the U.S.
- The company now expects 2023 procedure volume growth of 20–23%, up from previous estimates of 18–21% growth. 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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