ISRG Stock: How This Robotic Surgeon Weathered Omicron For A Quarterly Beat

Intuitive Surgical outplayed the omicron variant Thursday, reporting another quarter of procedure growth for its robotic surgery systems. But ISRG stock fell late.

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During the fourth quarter, the number of procedures performed using Intuitive Surgical’s da Vinci systems increased 19%. Procedure growth is a key indicator of the strength of Intuitive’s business. At the height of the pandemic in 2020, procedures declined. Last year, they roared back.

Still, the company offered a word of warning.

“The impact of the Covid-19 pandemic on the company’s business has, and continues to, differ by geography and region,” Intuitive Surgical said in a news release. “Covid-19 has had, and will likely continue to have, an adverse impact on the company’s procedure volumes.”

In after-hours trading on today’s stock market, ISRG stock dipped 0.9% near 290. Shares closed the regular session down a fraction at 292.73.

ISRG Stock: Shipments, Instrument Sales Rise

Fourth-quarter revenue was in line with Intuitive Surgical’s positive preannouncement earlier this month. Sales increased 17% to $1.55 billion, just ahead of ISRG stock analysts’ projections for $1.52 billion. Adjusted profit was $1.30 per share, up roughly 9%, and beat forecasts by 2 pennies.

The company also shipped 385 of its da Vinci Surgical Systems, an increase of 18%.

Sales from one-time use instruments and accessories climbed 13% to $843 million. This was driven by growth in da Vinci procedures. Intuitive Surgical noted procedures were particularly strong for U.S. general surgery and continued growth outside the U.S.

The company didn’t offer an outlook for 2022. ISRG stock is now well below its key moving lines, according to MarketSmith.com.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.

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