Intuitive Surgical Stock Is Sliding After Hours: What's Going On?

Intuitive Surgical Inc ISRG shares are trading lower in Tuesday's after-hours session on the heels of the company's second-quarter results.

• Q2 Revenue: $1.756 billion beat estimates of $1.74 billion
• Q2 EPS: $1.42 beat estimates of $1.33

Worldwide da Vinci procedures increased approximately 22% year-over-year. The company said it placed 331 da Vinci surgical systems, up from 279 year-over-year.

Intuitive Surgical's da Vinci surgical system installed base totaled 8,042 systems as of June 30. 

"Our core business was lifted by positive surgical trends and continued interest in robotic-assisted surgery compared with other surgical approaches," said Gary Guthart, CEO of Intuitive Surgical.

"We continue to focus on supporting our customers' adoption, pursuing expanded indications, delivering excellence in quality and supply, and increasing productivity as we scale our business."

The company noted that COVID-19 resurgences in 2022 had an adverse impact on da Vinci procedure volumes. Intuitive Surgical warned that COVID-19 "has had, and may continue to have, an adverse impact on the company's procedure volumes."

Management will hold a conference call to discuss these results at 4:30 p.m. ET. 

ISRG Price Action: Intuitive Surgical shares were down 5.75% after hours at $327.66 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Intuitive Surgical.