Intuitive Surgical Stock Pops On Q3 Earnings Beat, Da Vinci Procedures Climb 18%, Regulatory Clearance Update And More

Intuitive Surgical, Inc. ISRG reported third-quarter financial results after markets closed on Thursday. Here’s a rundown of everything you need to know.

Q3 Earnings Top Estimates: Intuitive Surgical reported third-quarter revenue of $2.04 billion, beating the consensus estimate of $2 billion. The robotic-assisted surgery company reported third-quarter adjusted earnings of $1.84 per share, beating analyst estimates of $1.63 per share, according to Benzinga Pro.

Revenue climbed 17% on a year-over-year basis. Worldwide da Vinci procedures increased approximately 18% year-over-year. The company said it placed 379 da Vinci surgical systems in the quarter, versus 312 in the prior year’s quarter; 110 of the systems placed during the quarter were Intuitive’s da Vinci 5 systems.

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Intuitive Surgical’s da Vinci surgical system installed base totaled 9,539 systems as of Sept. 30, up 15% year-over-year. The company ended the quarter with $8.31 billion in cash, cash equivalents and investments, up $628 million during the quarter.

“Core measures of our business were healthy this quarter, and we are pleased by customer adoption of da Vinci 5,” said Gary Guthart, CEO of Intuitive Surgical. “We remain focused on delivering the goals we share with our customers, centered on improving patient outcomes.”

Intuitive Surgical said it obtained regulatory clearance in South Korea for the da Vinci 5 surgical system in October. The company’s latest surgical systems can now be used in urologic, general, gynecologic, thoracoscopic, thoracoscopically-assisted cardiotomy and transoral otolaryngology surgical procedures.

Intuitive Surgical scheduled a conference call to discuss the company’s quarterly performance with analysts and investors at 4:30 p.m. ET.

ISRG Price Action: Intuitive Surgical shares were up 6.39% in after-hours, trading at $505 at the time of publication Thursday, according to Benzinga Pro.

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Photo: Courtesy of Intuitive Surgical.