SUNNYVALE, Calif. - Intuitive (NASDAQ:ISRG), known for its robotic-assisted surgery technology, has announced the appointment of its President, David J. Rosa, to its Board of Directors. The appointment took effect on Wednesday, adding a significant layer of operational expertise to the board's strategic oversight.
Rosa, who has been with Intuitive for nearly 27 years, brings a wealth of experience to the table, having held leadership roles in areas such as product development, commercial operations, and clinical and regulatory affairs. His executive leadership at Intuitive spans over a decade, and currently, he is responsible for the company's business unit, quality, regulatory, manufacturing, and commercial operations.
The addition of Rosa to the board follows his appointment as president in May 2023 and is part of an expansion that increases the number of directors from eleven to twelve. Intuitive's CEO, Gary S. Guthart, PhD, praised Rosa's extensive experience and his dedication to operational excellence and innovation. Guthart emphasized that Rosa's dual focus on strategy and operations would provide a valuable perspective to the board's stewardship.
Rosa also serves as chairman of the board for Intuitive-Fosun, a joint venture between Intuitive and Fosun Pharma in Shanghai, China, and is a board member of Kardium Inc., where he is part of the compensation committee.
His academic credentials include a BS in mechanical engineering from California Polytechnic University at San Luis Obispo and an MS from Stanford University. Rosa holds multiple patents, further demonstrating his contributions to the field.
This board appointment reflects Intuitive's commitment to leadership continuity and depth as the company continues to advance in the field of minimally invasive care. Intuitive's technologies, which include the da Vinci surgical systems and the Ion endoluminal system, are at the forefront of the industry's move towards less invasive medical procedures.
The information for this article is based on a press release statement from Intuitive.
In other recent news, Intuitive Surgical (NASDAQ:ISRG) has been the focus of several analyst firms following significant advancements. Notably, the company's second-quarter earnings and revenue exceeded expectations, driven by a 17% increase in procedures and the placement of 70 da Vinci surgical systems. This positive performance prompted Argus to raise the company's price target to $520, while maintaining a Buy rating.
Other firms, including Truist Securities, Piper Sandler, Baird, RBC Capital, and BTIG, also increased their price targets following these developments. However, Evercore ISI reduced its price target to $410, retaining an 'In Line' rating.
The company's robust performance led to an upward revision of its full-year 2024 guidance, including an increase in the worldwide procedure growth outlook to a range of 15.5-17.0%, up from the previous forecast of 14.0-17.0%. Intuitive Surgical's ongoing research efforts and investments in expanding surgeon training, developing new products, and conducting academic studies are expected to drive future growth.
These are the latest developments in the rapidly expanding sector of robot-assisted surgery, where Intuitive Surgical continues to be a frontrunner. It's worth noting that all the facts mentioned are based on the recent reports and analysis from the mentioned analyst firms.
InvestingPro Insights
Intuitive (NASDAQ:ISRG) has recently made a strategic move by appointing its President, David J. Rosa, to its Board of Directors, emphasizing the company's dedication to leadership and innovation. In light of this development, let's look at some key metrics and insights from InvestingPro that could be of interest to investors and stakeholders.
InvestingPro Data indicates that Intuitive has a robust market capitalization of $161.34 billion, reflecting its significant presence in the medical technology sector. The company's P/E Ratio stands at a lofty 78.02, suggesting high investor expectations for future earnings. Moreover, the Revenue Growth for the last twelve months as of Q2 2024 is at a healthy 13.62%, underscoring the company's ability to increase its sales in a competitive market.
InvestingPro Tips reveal that Intuitive has seen a significant return over the last week, with a 9.1% price total return, which aligns with the company's strong performance over the past three months, boasting a 21.68% return. Furthermore, analysts have revised their earnings upwards for the upcoming period, indicating potential optimism about the company's financial prospects.
For those looking to delve deeper into Intuitive's financial health and potential investment opportunities, there are additional InvestingPro Tips available at https://www.investing.com/pro/ISRG. Remember, using the coupon code PRONEWS24 can provide up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
Investors may find these insights particularly valuable as they consider the impact of the company's leadership decisions on its financial performance and market position. With 17 more InvestingPro Tips available, a more comprehensive analysis can be accessed, offering a deeper understanding of Intuitive's strategic direction and operational efficiency.
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