Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/medtronic-plc" target="_blank" data-smartkarma-citation="entities:14982:1" rel="noopener">Medtronic Plc (MDT US)</a> has submitted the Hugo robotic-assisted surgery system to the FDA for a urologic indication in 1Q25. In clinical trial, Hugo met the safety and effectiveness endpoints.</li>
<li>Approval is expected in 2H25. Medtronic expects Hugo would contribute to the company’s surgical business in FY26 and will be ‘a meaningful growth driver’ for the company in the medium-term.</li>
<li>Medtronic is well-positioned for accelerated growth, driven by momentum in some of the most attractive growth markets in MedTech. The U.S. approval of Hugo is an icing on the cake.</li>
</ul>



Medtronic Plc (MDT US) has submitted the Hugo robotic-assisted surgery system to the FDA for a urologic indication in 1Q25. In clinical trial, Hugo met the safety and effectiveness endpoints.
Approval is expected in 2H25. Medtronic expects Hugo would contribute to the company’s surgical business in FY26 and will be ‘a meaningful growth driver’ for the company in the medium-term.
Medtronic is well-positioned for accelerated growth, driven by momentum in some of the most attractive growth markets in MedTech. The U.S. approval of Hugo is an icing on the cake.


Medtronic Plc (MDT US): New Approvals to Accelerate Growth Ahead; A Good Time to Buy

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>DeepSeek appears to have turned the chatbot market upside-down, putting pressure on AI-linked stocks. The dust has yet to settle, but the selloff has been largely contained to AI-linked stocks.</li>
<li>The rest of the market did not seem to care; the equal-weighted S&amp;P 500 was roughly flat yesterday.</li>
<li>Additionally, market dynamics remain healthy. Bottom line: as long as the S&amp;P 500 remains above 5600-5670, our long-term outlook remains bullish.</li>
</ul>


DeepSeek appears to have turned the chatbot market upside-down, putting pressure on AI-linked stocks. The dust has yet to settle, but the selloff has been largely contained to AI-linked stocks.
The rest of the market did not seem to care; the equal-weighted S&amp;P 500 was roughly flat yesterday.
Additionally, market dynamics remain healthy. Bottom line: as long as the S&amp;P 500 remains above 5600-5670, our long-term outlook remains bullish.


S&P 500 Testing Prior Breakout Level; Market Dynamics Remain Healthy Despite AI-Linked Weakness

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Intuitive Surgical, Inc. reported robust third-quarter financial results for 2024, reflecting both significant positive developments and some areas of challenge.</li><li>The company demonstrated strong global growth in its key product lines, particularly the da Vinci systems, which is central to its operation.</li><li>On the positive side, Intuitive displayed robust procedure growth at 18% year-over-year, with contributions especially strong in the U.S., Japan, Germany, France, and the U.K. Notably, the introduction of the da Vinci 5 system, which launched in March 2024, saw promising early adoption with 188 installations and over 12,000 procedures completed.</li></ul>

Intuitive Surgical, Inc. reported robust third-quarter financial results for 2024, reflecting both significant positive developments and some areas of challenge.The company demonstrated strong global growth in its key product lines, particularly the da Vinci systems, which is central to its operation.On the positive side, Intuitive displayed robust procedure growth at 18% year-over-year, with contributions especially strong in the U.S., Japan, Germany, France, and the U.K. Notably, the introduction of the da Vinci 5 system, which launched in March 2024, saw promising early adoption with 188 installations and over 12,000 procedures completed.

Intuitive Surgical: International Expansion & Regulatory Milestones & Other Major Drivers

<ul>
<li>
<a href="https://www.smartkarma.com/entities/intuitive-surgical-inc" target="_blank" data-smartkarma-citation="entities:15853:1" rel="noopener">Intuitive Surgical (ISRG US)</a> posted 3Q24 result, with revenue, procedure volume growth, system placement, and EPS beating estimates. Accelerating rollout of da Vinci 5 remains one of the growth engines.</li>
<li>During 3Q24, Intuitive placed 110 da Vinci 5 systems, up from 70 in Q2 and eight in Q1. da Vinci 5 system has been used in more than 12,000 procedures.</li>
<li>Intuitive has raised the low end of the procedure growth guidance range from 15.5% to 16.0% and expects full year 2024 procedure growth within a range of 16% and 17%.</li>
</ul>



Intuitive Surgical (ISRG US) posted 3Q24 result, with revenue, procedure volume growth, system placement, and EPS beating estimates. Accelerating rollout of da Vinci 5 remains one of the growth engines.
During 3Q24, Intuitive placed 110 da Vinci 5 systems, up from 70 in Q2 and eight in Q1. da Vinci 5 system has been used in more than 12,000 procedures.
Intuitive has raised the low end of the procedure growth guidance range from 15.5% to 16.0% and expects full year 2024 procedure growth within a range of 16% and 17%.


Intuitive Surgical (ISRG US): Q3 Results Beat Expectations; Procedure Growth Forecast Revised Upward

<ul><li>Intuitive Surgical experienced healthy performance in the second quarter of 2024, with strong capital placements and solid procedure growth.</li><li>Several advancements were made, with the rollout of da Vinci 5, stability of Ion supply, and expanding da Vinci SP installs in Europe among the highlights.</li><li>The company also faced some headwinds related to multiport procedures.</li></ul>

Intuitive Surgical experienced healthy performance in the second quarter of 2024, with strong capital placements and solid procedure growth.Several advancements were made, with the rollout of da Vinci 5, stability of Ion supply, and expanding da Vinci SP installs in Europe among the highlights.The company also faced some headwinds related to multiport procedures.

Intuitive Surgical Inc.: Expansion of da Vinci 5 (dV5) Products & Services & Other Major Drivers

United States

Intuitive Surgical, Inc. design, manufactures, and markets surgical systems. The Company offers endoscopes, endoscopic retractors and disectors, scissors, scalpels, forceps, needle holders, electrocautery, ultrasonic cutters, and accessories during surgical procedures. Intuitive Surgical operates worldwide.

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Intuitive Surgical (ISRG UW)

Medtronic Plc (MDT US): New Approvals to Accelerate Growth Ahead; A Good Time to Buy

Medtronic submits Hugo robotic-assisted surgery system to FDA for urologic indication, with expected approval in 2H25. Hugo is poised to be a...

Tina Banerjee

S&P 500 Testing Prior Breakout Level; Market Dynamics Remain Healthy Despite AI-Linked Weakness

$SPX Testing Prior Breakout Level; Market Dynamics Remain Healthy Despite AI-Linked Weakness; $DXY, Treasury yields, and crude oil near-term tops...

Vermilion Research

Intuitive Surgical: International Expansion & Regulatory Milestones & Other Major Drivers

Intuitive Surgical, Inc. reported robust third-quarter financial results for 2024, reflecting both significant positive developments and some...

Baptista Research

Intuitive Surgical (ISRG US): Q3 Results Beat Expectations; Procedure Growth Forecast Revised Upward

Intuitive Surgical beats estimates in 3Q24 with revenue, procedure volume growth, system placement, and EPS exceeding expectations. Accelerating...

Tina Banerjee

Intuitive Surgical Inc.: Expansion of da Vinci 5 (dV5) Products & Services & Other Major Drivers

Intuitive Surgical experienced healthy performance in the second quarter of 2024, with strong capital placements and solid procedure...

Baptista Research

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Medtronic Plc (MDT US): New Approvals to Accelerate Growth Ahead; A Good Time to Buy

​Medtronic submits Hugo robotic-assisted surgery system to FDA for urologic indication, with expected approval in 2H25. Hugo is poised to be a...

Tina Banerjee

S&P 500 Testing Prior Breakout Level; Market Dynamics Remain Healthy Despite AI-Linked Weakness

$SPX Testing Prior Breakout Level; Market Dynamics Remain Healthy Despite AI-Linked Weakness; $DXY, Treasury yields, and crude oil near-term tops...

Vermilion Research

Intuitive Surgical: International Expansion & Regulatory Milestones & Other Major Drivers

Intuitive Surgical, Inc. reported robust third-quarter financial results for 2024, reflecting both significant positive developments and some...

Baptista Research

Intuitive Surgical (ISRG US): Q3 Results Beat Expectations; Procedure Growth Forecast Revised Upward

​Intuitive Surgical beats estimates in 3Q24 with revenue, procedure volume growth, system placement, and EPS exceeding expectations. Accelerating...

Tina Banerjee

Intuitive Surgical Inc.: Expansion of da Vinci 5 (dV5) Products & Services & Other Major Drivers

Intuitive Surgical experienced healthy performance in the second quarter of 2024, with strong capital placements and solid procedure...

Baptista Research

Medtronic submits Hugo robotic-assisted surgery system to FDA for urologic indication, with expected approval in 2H25. Hugo is poised to be a...

Intuitive Surgical beats estimates in 3Q24 with revenue, procedure volume growth, system placement, and EPS exceeding expectations. Accelerating...