Late Tuesday, Intuitive Surgical (ISRG) reported adjusted earnings of $1.23 per share on $1.7 billion in first-quarter sales. In response, ISRG stock surged.
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The number of procedures performed using Intuitive Surgical’s robotic surgery system, da Vinci, surged 26%. This number is key as it indicated growth in sales of one-time tools and instruments.
On average, analysts polled by FactSet expected the robotic surgery giant to earn $1.20 per share and report $1.59 billion in sales.
During the year-earlier period, Intuitive Surgical earnings were $1.13 per share on $1.49 billion in sales.
Intuitive Surgical didn’t provide a full-year outlook in its earnings release. ISRG stock analysts currently predict adjusted income of $5.30 per share and $6.9 billion in sales.
In after-hours trading on today’s stock market, ISRG stock jumped 8.3% near 291.60. Shares are forming a cup base with a buy point at 285.19, according to MarketSmith.com.
More to follow.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
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Source: https://www.investors.com/news/technology/isrg-stock-intuitive-surgical-earnings-q1-2023/?src=A00220&yptr=yahoo