April 19, 2023

Intuitive Stock Soars Most in 3 Years as Robotic Surgery Grows. Analysts See Upside Ahead.

Surgical systems manufacturer

Intuitive Surgical

said it saw a big uptick in hospitals using its robotic surgical system globally in the first quarter.

Intuitive (ticker: ISRG) reported its first-quarter earnings after the market closed Tuesday. Its profit of $1.23 per share on revenue of $1.7 billion beat analysts’ estimates of $1.20 per share and $1.6 billion, according to FactSet data. The strong results in the quarter ending March were largely driven by the 26% growth in its robotic surgical system da Vinci’s procedure volumes. It was the first time the metric surpassed 2021 growth levels.

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