Intuitive Surgical (NASDAQ:ISRG), a leader in robotic-assisted surgery, has announced its fourth-quarter results, surpassing the average analyst estimates.
The company reported total revenue of $1.93 billion, up 17% year-over-year and outperforming the estimated $1.89 billion. Earnings per share were $1.60, topping the analyst estimate of $1.48.
Shares rose as much as 7.7% in pre-open trade.
The Instruments and Accessories segment contributed significantly to YoY growth, achieving $1.14 billion in revenue. This marked a 22% increase compared to the previous year, and aligning with the estimated $1.14 billion.
Intuitive Surgical demonstrated strong operational performance, with worldwide procedure growth reaching 21%, surpassing the expected 19.2%.
The installed base of the Da Vinci Surgical System reached 8,606 systems, rising 14% annually and exceeding the estimated 8,584.
The stock was boosted by the announcement that management had submitted its 510k application to the FDA for its da Vinci 5 system.
While the results "were impressive," analysts at Citi highlighted the new robot announcement as the "real highlight."
"While details were scant, management confirmed: there is a new robot coming. We reiterate our Buy/Top Pick," the analysts said.