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INTUITIVE SURGICAL, INC.

(ISRG)
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Intuitive Surgical 2Q Net Jumps on Growth in Da Vinci Procedures

07/20/2021 | 04:59pm EDT

By Jeffrey T. Lewis

Intuitive Surgical Inc. said profit jumped in the second quarter as sales of its da Vinci procedures and systems rose amid an increase in the number of surgeries performed following delays due to the coronavirus pandemic.

The robot-assisted surgery equipment maker said Tuesday net income increased to $517.2 million from $68 million in the second quarter of 2020. Sales rose 72% to $1.46 billion, and earnings per share rose to $4.25 from 57 cents in the second quarter of last year. Adjusted earnings per share rose to $3.92 from $1.11 a year earlier.

The company's sales of instruments and accessories rose 73% in the second quarter to $796 million, boosted by close to 68% growth in the volume of da Vinci procedures, Intuitive said. Systems revenue increased 68% in the second quarter from a year earlier to $440 million after the company shipped 328 da Vinci systems during the quarter, up from 178 a year earlier.

"We are pleased with our second quarter procedure growth and financial results, which reflect both the demand for high-quality minimally invasive procedures as well as a return to surgeries deferred during the pandemic," said Intuitive CEO Gary Guthart.

Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com

(END) Dow Jones Newswires

07-20-21 1658ET

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Analyst Recommendations on INTUITIVE SURGICAL, INC.
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Financials (USD)
Sales 2021 5 643 M - -
Net income 2021 1 657 M - -
Net cash 2021 3 029 M - -
P/E ratio 2021 83,4x
Yield 2021 -
Capitalization 123 B 123 B -
EV / Sales 2021 21,3x
EV / Sales 2022 18,6x
Nbr of Employees 8 081
Free-Float 99,0%
Chart INTUITIVE SURGICAL, INC.
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Intuitive Surgical, Inc. Technical Analysis Chart | ISRG | US46120E6023 | MarketScreener
Technical analysis trends INTUITIVE SURGICAL, INC.
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 1 037,27 $
Average target price 990,75 $
Spread / Average Target -4,48%
EPS Revisions
Managers and Directors
Gary S. Guthart President, Chief Executive Officer & Director
Marshall L. Mohr Chief Financial Officer & Executive Vice President
Calvin Darling Senior Director-Finance & Investor Relations
Craig H. Barratt Chairman
Myriam J. Curet Chief Medical Officer & Executive Vice President
Sector and Competitors