bullish
Intuitive Surgical (ISRG US): Q2 2022 Results Missed Expectations; Raised Procedure Growth Guidance
377 Views22 Jul 2022 22:49
SUMMARY
- Intuitive Surgical (ISRG US) reported Q2 results, which missed expectations. Overall performance was impacted by COVID-19 resurgence and macro headwinds including inflation and supply chain constraint.
- Despite lockdowns in its second biggest market of China, the company reported worldwide da Vinci procedures growth of 14% y/y, in-line with earlier full-year guidance range of 12–16%.
- With China showing signs of recovery, Intuitive now expects worldwide da Vinci procedures to grow 14.0–16.5% in 2022. However, soft U.S. hospital capex remains an area of concern.
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Tina Banerjee
Global Healthcare Analyst
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