Intuitive Surgical (ISRG) gained about 7% in Thursday’s after-hours trading session. The increase came after the company reported better-than-anticipated numbers for the second quarter.
Intuitive Surgical is a dominant player in the minimally invasive and robotic-assisted surgery space. The company is mainly known for its da Vinci Surgical System.
ISRG’s Q2 Results
Intuitive Surgical reported Q2 net earnings of $1.78 per share, which surpassed the Street’s expectations of $1.54 but increased 25.4% year-over-year.
Meanwhile, revenues grew by about 14% to $2.01 billion and came in higher than the consensus estimate of $1.97 billion. This increase was driven by a rise in procedure volumes using its da Vinci surgical systems.
What’s also worth noting is that during the quarter, Intuitive placed 341 da Vinci Surgical Systems, ending the quarter with a 14% rise in the installed base to 9,203 systems.
What Is the prediction for Intuitive Surgical?
ISRG’s share price has rallied by nearly 19% over the past year. Overall, the Street has a Moderate Buy consensus rating on the stock, alongside an average ISRG price target of $447.57. However, analysts’ views on Intuitive Surgical could see changes following today’s earnings report.
