Intuitive Surgical, Inc (NASDAQ: ISRG), a company that designs, manufactures, and sells advanced robotic surgical systems, provided an update on their fourth-quarter results. ISRG exceeded expectations with both procedure numbers and system placements. They also provided an initial growth guidance of 13-16% for procedures in 2024, which is in line with industry estimates. These positive results and growth projections provide a strong foundation for the company moving forward.
Key highlights from the fourth-quarter results include:
- A 17% year-over-year increase in revenue to $1.93 billion, ~3% higher than analysts’ estimates.
- A 21% worldwide procedure growth mainly driven by international markets.
- System revenue of $480 million, with 415 systems placed.
The company’s guidance for 2024 procedure growth at 13-16% is a positive sign for investors. The upper end of the range is in line with the 15% growth expectations from analysts. It is the highest initial growth guidance in the past three years, indicating continued momentum in the coming year. This growth is particularly significant considering the challenges posed by supply chain issues and increased inventory targets. More details on the company’s 2024 plans will be revealed in their upcoming earnings release.
In conclusion, ISRG’s strong fourth-quarter results and positive growth guidance for 2024 demonstrate the company’s leadership in the robotic surgical systems market. With their innovative da Vinci Surgical System and potential new products on the horizon, ISRG is well-positioned for continued success. ISRG presents an attractive investment opportunity in the healthcare technology sector that investors can consider adding to their portfolio.
Disclaimer: ProsperUs Head of Content & Investment Lead Billy Toh doesn’t own shares of any companies mentioned.
