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Biotech / Medical : Intuitive Surgical, Inc. (ISRG)
ISRG 534.28+0.8%Oct 31 9:30 AM EDT
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From: IceHawk7/19/2018 5:11:18 PM
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Intuitive Surgical shares pop on robust 2Q earnings due to booming sales of its robotic surgery systems

16:25 19 Jul 2018

The company’s success stemmed from a jump in the sale of its da Vinci surgical systems, which provide robotic assistance to surgeons


The 2Q results trounced analysts’ estimates who had penciled in earnings of US$2.50 per share

Shares in Intuitive Surgical Inc ( NASDAQ:ISRG) picked up ground in after-hours trade Thursday after the California-based company that makes robotic surgery devices whizzed past Wall Street’s estimates for both second-quarter revenue and profit.

Intuitive Surgical shares shot up 4.3% after the market’s close to US$544.00.

The maker of the da Vinci robotic surgery system reported net income of US$327mln on an adjusted basis or US$2.76 per diluted share, compared with US$230mln or US$2.00 per share, in the year-ago quarter.

Its revenue climbed to US$909mln in the second quarter, up from US$759mln in the year-ago period.

Read: Intuitive Surgical is poised to sell more robotic devices in international markets, especially Asia, says BMI The results trounced analysts’ estimates who had penciled in earnings of US$2.50 per share on revenue of US$877.6mln.

The company’s success stemmed from a jump in the sale of its da Vinci surgical systems, which provide robotic assistance to surgeons who are performing less invasive types of surgery.

In the quarter, the company shipped 220 da Vinci systems compared with just 166 in the year-ago period.

“We are pleased with our customers’ increased use of da Vinci in the second quarter and the financial results that follow,” noted CEO Gary Guthart in a statement.

Da Vinci surgical systems offer surgeons at the operating table high-definition 3D vision, a magnified view and robotic and computer assistance.



http://www.proactiveinvestors.com/companies/news/201181/intuitive-surgical-shares-pop-on-robust-2q-earnings-due-to-booming-sales-of-its-robotic-surgery-systems-201181.html

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