Robotic Surgery Giant Intuitive Surgical Rallies With A Profit-Taking Zone In View

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Intuitive Surgical (ISRG) beat earnings views late Tuesday, helped by strong growth in the number of procedures that use its robotic surgery system. ISRG stock rallied in late trades.


During the December quarter, the company saw a 21% increase in the number of procedures using its da Vinci system. This led to a 22% jump in sales of one-time use instruments and accessories. But the robotic surgery giant could see a pullback in 2024. It projects just 13% to 16% growth in procedures this year.

Total fourth-quarter sales popped 17% to $1.93 billion, in line with Intuitive Surgical’s preannouncement earlier this month. Adjusted earnings came out to $1.60 per share, an increase of 30% year over year.

Analysts who follow ISRG stock projected a lower $1.89 billion in sales and adjusted profit of $1.48 per share, according to FactSet.

Intuitive Surgical didn’t provide an earnings or sales outlook for 2024. The Street currently expects $6.42 earnings per share and $8.08 billion in sales. Analysts also forecast procedure growth of 14.8%.

In after-hours trading on today’s stock market, ISRG stock rose more than 6% to 395, following a 1.2% drop during the regular session. Shares broke out of a cup-with-handle base with a buy point at 318.26 last month. Intuitive Surgical stock has been approaching a profit-taking zone, 20% to 25% above that entry, according to

Follow Allison Gatlin on X, the platform formerly known as Twitter, at @IBD_AGatlin.


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