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Equity Bottom-Up

<ul><li>Intuitive Surgical delivered a healthy first quarter performance with strong procedure growth and solid capital placements.</li><li>However, the company also faced some regional challenges during the quarter.</li><li>Core measures of the company's operations remained strong, as seen in its robust procedure growth and solid capital placements.</li></ul>

Intuitive Surgical delivered a healthy first quarter performance with strong procedure growth and solid capital placements.However, the company also faced some regional challenges during the quarter.Core measures of the company's operations remained strong, as seen in its robust procedure growth and solid capital placements.

Intuitive Sugrical: How Long Will The Growing Procedure Volume Last & What Are The Major Challenges Ahead? - Major Drivers

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>In 1Q24, <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> reported 11% YoY revenue growth to $1.89B, driven by growth in da Vinci procedure volume and an increase in the installed base of systems.</li>
<li>Worldwide da Vinci procedures grew 16%, matching the higher end of prior guidance range. The company placed 313 da Vinci surgical systems, including eight newly approved da Vinci 5.</li>
<li>Even after considering blip in bariatric surgery, delayed tender in China, and no benefit of patient backlog, the company has raised 2024 worldwide da Vinci procedure growth guidance to 14–17%.</li>
</ul>


In 1Q24, Intuitive Surgical (ISRG US) reported 11% YoY revenue growth to $1.89B, driven by growth in da Vinci procedure volume and an increase in the installed base of systems.
Worldwide da Vinci procedures grew 16%, matching the higher end of prior guidance range. The company placed 313 da Vinci surgical systems, including eight newly approved da Vinci 5.
Even after considering blip in bariatric surgery, delayed tender in China, and no benefit of patient backlog, the company has raised 2024 worldwide da Vinci procedure growth guidance to 14–17%.


Intuitive Surgical (ISRG US): Beat-And-Raise 1Q24; Rising Demand for Robotic Surgery Propels Growth

<ul>
<li>On March 14, <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> received FDA approval for its fifth-generation multiport robotic system, da Vinci 5. The device will deliver meaningful improvements in surgery.</li>
<li>The company reported strong 4Q23 result, with revenue and EPS beating consensus. 2023 procedure growth of 22% matched the higher end of the company’s guidance range of 21–22%. </li>
<li>Management has guided for a worldwide da Vinci procedure volume growth of 13–16% YoY in 2024. In the medium-term, ISRG aims to improve gross margin to above 70% level.</li>
</ul>


On March 14, Intuitive Surgical (ISRG US) received FDA approval for its fifth-generation multiport robotic system, da Vinci 5. The device will deliver meaningful improvements in surgery.
The company reported strong 4Q23 result, with revenue and EPS beating consensus. 2023 procedure growth of 22% matched the higher end of the company’s guidance range of 21–22%. 
Management has guided for a worldwide da Vinci procedure volume growth of 13–16% YoY in 2024. In the medium-term, ISRG aims to improve gross margin to above 70% level.


Intuitive Surgical (ISRG US): Fifth-Generation Device Approval Adds to Secular Growth Story

<ul><li>Intuitive Surgical enjoyed a strong 2023, seeing increasing use of its platforms in hospitals and improvement in system capacity to manage growth.</li><li>Full year growth for procedures was 22%, led by general surgery in the US and diverse growth in international markets such as Germany, France, the UK, and Ireland.</li><li>However, there was a slowdown in growth across bariatric procedures due to the use of GLP-1 drugs for obesity.</li></ul>

Intuitive Surgical enjoyed a strong 2023, seeing increasing use of its platforms in hospitals and improvement in system capacity to manage growth.Full year growth for procedures was 22%, led by general surgery in the US and diverse growth in international markets such as Germany, France, the UK, and Ireland.However, there was a slowdown in growth across bariatric procedures due to the use of GLP-1 drugs for obesity.

Intuitive Surgical: Are They Capitalizing Enough On The Expanded Adoption Of Robotic Surgery? - Major Drivers

<ul><li>Intuitive Surgical, Inc. delivered mixed results for the previous quarter, with revenues below the analyst consensus.</li><li>Procedure growth for da Vinci saw a remarkable 19% increase during the quarter.</li><li>System utilization growth remained strong at 6%, down from 9% in the previous quarter but still exceeding historical growth rates.</li></ul>

Intuitive Surgical, Inc. delivered mixed results for the previous quarter, with revenues below the analyst consensus.Procedure growth for da Vinci saw a remarkable 19% increase during the quarter.System utilization growth remained strong at 6%, down from 9% in the previous quarter but still exceeding historical growth rates.

Intuitive Surgical Inc.: Next-Gen Robotics Might Just Rewrite Medical History! - 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 US)

Intuitive Sugrical: How Long Will The Growing Procedure Volume Last & What Are The Major Challenges Ahead? - Major Drivers

Intuitive Surgical delivered a healthy first quarter performance with strong procedure growth and solid capital placements. However, the company...

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