The Rise of Intuitive Surgical: Record High Earnings in Q2 2024

Key Takeaways

• Intuitive Surgical exceeded profit and sales for the second quarter on strong demand for its da Vinci robotic surgical device.
• Procedures using da Vinci jumped 17%, and the company placed 341 in medical facilities during the quarter.
• Intuitive Surgical noted that more people are having medical procedures that they had delayed during the COVID-19 pandemic.

Intuitive Surgical (ISRG) shares traded at an all-time high Friday after the maker of robotic medical devices posted better-than-expected second-quarter results on soaring demand for its da Vinci surgical machine. The company reported adjusted earnings per share of $1.46, with revenue increasing 14.5% to $2.01 billion, both exceeding forecasts.

Intuitive Surgical said worldwide procedures with its da Vinci system rose 17%, and it placed 341 in medical facilities, 10 more than in the same period last year. At the end of June, it had a total of 9,203 in use, a 14% gain from the end of the first half of 2023.

People Having Surgeries Put Off During Pandemic

The company noted that surgical procedures weren’t significantly impacted by COVID-19, unlike in China during lockdowns there a year ago. Intuitive Surgical highlighted that more people are now opting to undergo procedures that they had postponed during the pandemic.

Intuitive Surgical shares were up 9% at $453.45 in recent trading, reaching an all-time high of $456.81. The stock has gained 34% so far in 2024.

Overall, Intuitive Surgical’s performance in the second quarter of 2024 reflects a strong demand for its innovative da Vinci robotic surgical system. The company’s ability to adapt to changing market conditions and capitalize on the growing need for advanced medical technology has positioned it as a leader in the industry.

Looking Ahead

As the healthcare landscape continues to evolve, Intuitive Surgical is well-positioned to further expand its market presence and drive continued growth. With a focus on innovation and a commitment to improving patient outcomes, the company is poised to make significant strides in the coming years.

Investors and industry analysts alike are closely watching Intuitive Surgical’s trajectory, as its success serves as a barometer for the broader healthcare technology sector. With a track record of delivering strong financial results and a reputation for excellence in medical device manufacturing, Intuitive Surgical remains a top contender in the market.

For more information on Intuitive Surgical’s record-high earnings in Q2 2024 and the latest developments in robotic medical technology, visit Investopedia.