bullish
Intuitive Surgical (ISRG US): Mixed Q3 Result; Encouraging Procedure Growth Is the Key Positive
342 Views23 Oct 2023 19:40
SUMMARY
- In 3Q23, Intuitive Surgical (ISRG US) recorded 12% YoY revenue growth to $1.74B, driven by growth in da Vinci procedure volume and an increase in the installed base of systems.
- 3Q23 procedure growth was 19%, versus 20% in 3Q22 and 22% in 2Q23. Systems revenue declined 11%, due to higher number of systems placed under lease and lower China demand.
- The company now expects 2023 procedure volume growth of 21–22%, up from previous estimates of 20–22%. Significant material supply chain disruptions or hospital capacity constraints are not expected.
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Tina Banerjee
Global Healthcare Analyst
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- Intuitive Surgical (ISRG US): Beat-And-Raise 1Q24; Rising Demand for Robotic Surgery Propels Growth20 Apr 2024
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- Intuitive Surgical (ISRG US): Mixed Q3 Result; Encouraging Procedure Growth Is the Key Positive23 Oct 2023
- Intuitive Surgical (ISRG US): Robust Procedure Volume Drove 2Q23 Result; 2023 Outlook Raised22 Jul 2023
- Intuitive Surgical (ISRG US): Better-Than-Expected Q3 2022 Results; Raised Procedure Growth Guidance19 Oct 2022
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