Intuitive Surgical Stock Is Rising After Hours: What's Going On?

Intuitive Surgical Inc ISRG shares are trading higher in Tuesday’s after-hours session after the company reported preliminary financial results.

What Happened: Intuitive Surgical said it expects fourth-quarter revenue of approximately $1.93 billion versus estimates of $1.87 billion, according to Benzinga Pro. Full-year revenue is expected to come in at approximately $7.12 billion versus estimates of $7.07 billion.

Fourth-quarter da Vinci procedures grew approximately 21% year-over-year, while full-year procedures jumped about 22%. Intuitive Surgical said it placed 415 da Vinci surgical systems in the fourth quarter, up 12% year-over-year.

“We are pleased with customer adoption of our platforms and their use during the quarter and full year. We remain focused on supporting our customers’ pursuit of the quadruple aim in acute interventions,” said Gary Guthart, CEO of Intuitive Surgical.

Intuitive Surgical noted that COVID-19 resurgences in China negatively impacted its procedure volumes in early 2023, however, during the remainder of 2023, the company said it did not experience significant Covid-related disruptions.

Intuitive Surgical is scheduled to present at the 2024 JPMorgan Healthcare Conference on Jan. 10. The company will report fourth-quarter financial results on Jan. 23.

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ISRG Price Action: Intuitive Surgical shares were up 4.75% after hours at $346.25 at the time of publication, according to Benzinga Pro.

Photo: Courtesy of Intuitive Surgical