Intuitive Surgical Beats Wall Street 3Q Targets
October 17 2019 - 4:44PM
Dow Jones News
By Micah Maidenberg
Intuitive Surgical Inc. (ISRG) said third-quarter shipments of
its main surgery device rose 19% from last year, helping the
company beat Wall Street forecasts for sales and profit.
Overall, Intuitive shipped 275 da Vinci Surgical Systems in the
quarter. The robotic-assisted system is used by surgeons to perform
minimally invasive procedures and generally costs between $500,000
and $2.5 million, according to a securities filing.
The company reported selling $606 million worth of instruments
and accessories in the quarter, up 25%.
Overall, Sunnyvale, Calif.-based Intuitive said quarterly sales
rose 23% from the year earlier to $1.13 billion. Analysts polled by
FactSet expected $1.06 billion in sales.
Profit increased to $397 million, or $3.33 a share, from $293
million, or $2.45 a share, the year prior.
Excluding share-based compensation and after other adjustments,
the company's profit of $3.43 a share exceeded the $2.99 a share
analysts predicted.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
October 17, 2019 16:29 ET (20:29 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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