Intuitive Surgical, Inc. ISRG shares are trading higher after the company reported better-than-expected fourth-quarter financial results.
What To Know: Intuitive Surgical reported quarterly earnings of $1.60 per share, beating analyst estimates of $1.48, a 30.08% increase over earnings of $1.23 per share from the same period last year.
The company reported quarterly sales of $1.93 billion, clocking in above the analyst consensus estimate of $1.87 billion, a 16.51% increase over sales of $1.66 billion from the same period last year.
Cash, cash equivalents and investments at the end of the quarter were $7.34 billion, a decrease of $177 million during the period. The company cited capital expenditures, partially offset by cash generated from operations, as the cause.
Additionally, worldwide da Vinci procedures grew approximately 21% year-over-year.
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ISRG Price Action: Shares of Intuitive Surgical were up 6.22% at $394.50 in the after-hours session at the time of publication on Tuesday, according to Benzinga Pro.
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