What's Going On With Intuitive Surgical Stock Wednesday?

Intuitive Surgical Inc ISRG shares are roughly flat Wednesday after the company reported fourth-quarter financial results. Here’s a look at the key metrics from the quarter.

Q4 Earnings: Intuitive Surgical said fourth-quarter revenue increased 17% year-over-year to $1.93 billion, which beat the consensus estimate of $1.87 billion, according to Benzinga Pro. The company reported quarterly earnings of $1.60 per share, which beat estimates of $1.48 per share.

Fourth-quarter da Vinci procedures grew approximately 21% year-over-year. Intuitive Surgical said it placed 415 da Vinci surgical systems in the fourth quarter, up 12% year-over-year.

Intuitive Surgical grew its da Vinci system installed base to 8,606 as of Dec. 31, up 14% on a year-over-year basis.

Intuitive Surgical noted that Covid-19 resurgences in China negatively impacted its procedure volumes in the fourth quarter of 2022, but the company said it did not experience significant Covid-related disruptions in the fourth quarter of 2023.

“COVID-19 has had in the past, and could have in the future, an adverse impact on the Company’s procedure volumes,” the company said.

Intuitive Surgical ended the quarter with $7.34 billion in cash, equivalents and investments.

Is ISRG A Buy? Wall Street analysts view Intuitive Surgical on the whole as a Buy, given the history of coverage over the past three months. Adam Maeder from Piper Sandler is the most optimistic, expecting a 30.77% rise in the stock in the coming year.

But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past three months, Intuitive Surgical rose 47.76%, which indicates that opinion improved on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which rose 16.51% over the past year.

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ISRG Price Action: Intuitive Surgical shares were down 0.33% at $370.20 at the time of writing, according to Benzinga Pro.

Photo: courtesy of Intuitive Surgical.