Automation advancements have been incredible, putting the spotlight on the robotics sector as a whole. Indeed, the rise of artificial intelligence has boosted robotics use in manufacturing, healthcare, and e-commerce.
Intuitive Surgical, Inc. (NASDAQ:ISRG ) Q2 2024 Earnings Conference Call July 18, 2024 4:30 PM ET Company Participants Brian King - Head of IR Gary Guthart - CEO Dave Rosa - President Jamie Samath - CFO Conference Call Participants Larry Biegelsen - Wells Fargo Travis Steed - Bank of America Robbie Marcus - JPMorgan David Roman - Goldman Sachs Rick Wise - Stifel Drew Ranieri - Morgan Stanley Adam Maeder - Piper Sandler Richard Newitter - Truist Securities Operator Thank you everyone for standing by and welcome to the Intuitive Second Quarter 2024 Earnings Release. [Operator Instructions] As a reminder, today's call is being recorded.
While the top- and bottom-line numbers for Intuitive Surgical (ISRG) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Intuitive Surgical, Inc. (ISRG) came out with quarterly earnings of $1.78 per share, beating the Zacks Consensus Estimate of $1.53 per share. This compares to earnings of $1.42 per share a year ago.
Intuitive Surgical stock jumped late Thursday after the robotics behemoth smashed Wall Street's second-quarter earnings forecasts.
Intuitive Surgical on Thursday beat estimates for second-quarter profit and revenue on growing demand for its surgical robots used in minimally invasive procedures, sending its shares up 6.7% after the bell.
Investors are optimistic about Intuitive Surgical's (ISRG) strength in robotics.
Intuitive Surgical (NASDAQ: ISRG ) stock is on the move Thursday after the company's shares were given a price target increase by Barclays analysts. Barclays analyst Matt Miksic increased the firm's price target for ISRG stock from $430 per share to $490 per share.
The Intuitive Surgical (NASDAQ: ISRG) stock price is hovering near its all-time highest point on record as investors focus on its upcoming quarterly earnings. It has soared by 30% this year and by over 735% in the past decade, making it one of the most successful medical device companies in Wall Street.
Intuitive Surgical's (ISRG) second-quarter results are likely to reflect solid performance in the Instruments & Accessories segment. However, rising costs might have hurt margins.
Intuitive Surgical's revenue and EPS for Q1 beat estimates, and the stock has risen 17% since the last earnings preview. The release of the da Vinci 5 robotic system is expected to boost sales by encouraging upgrades among current users. Analysts expect Q2 EPS of $1.54 and revenue of $1.97 billion, with a focus on procedure growth and new system placements.
These two stellar companies have performed even better than that in the past 10 years. Both are leaders in their respective niches, with strong moats and solid growth prospects.