Intuitive Surgical Earnings Cheat Sheet: Investors Take Profits After Strong Report

S&P 500 (NYSE:SPY) component Intuitive Surgical, Inc. (NASDAQ:ISRG) reported its results for the first quarter. Intuitive Surgical, Inc. designs and manufactures da Vinci Surgical Systems, EndoWrist instruments and other surgical accessories.

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Intuitive Surgical Earnings Cheat Sheet for the First Quarter

Results: Net income for the medical appliances and equipment company rose to $104.1 million ($2.59/share) vs. $85.3 million ($2.12/share) YoY. A rise of 22% from the year earlier quarter.

Revenue: Rose 18.1% to $388.1 million YoY.

Actual vs. Wall St. Expectations: ISRG (NASDAQ:ISRG) beat the mean analyst estimate of $2.49/share. Estimates ranged from $2.32 per share to $2.61 per share.

Quoting Management: Commenting on the announcement, Gary Guthart, President and CEO of Intuitive Surgical, said, “Our procedure and revenue growth reflect further adoption of da Vinci Surgery across several procedure categories. We remain focused on developing and commercializing products that increase the efficacy and reduce the invasiveness of surgery.”

Key Stats: The company has enjoyed double-digit year-over-year revenue growth for the past five quarters. Over that span, the company has averaged growth of 34.1%, with the biggest boost coming in the first quarter of the last fiscal year when revenue rose 74.4% from the year earlier quarter.

The company has now seen net income rise in three-straight quarters. In the fourth quarter of the last fiscal year, net income rose 56.3% and in the third quarter of the last fiscal year, the figure rose 34.2%.

Competitors to Watch: Hitachi Ltd. (NYSE:HIT), Stryker (NYSE:SYK), Bovie Medical (AMEX:BVX), Synovis Life Tech (NASDAQ:SYNO), Cryolife (NYSE:CRY), Medtronic (NYSE:MDT), CONMED (NASDAQ:CNMD), Smith & Nephew (NYSE:SNN), Vision-Sciences (NASDAQ:VSCI), Cooper Industries (NYSE:COO) and Toshiba Corp. (TOSB).

Today’s Performance: Shares of ISRG (NASDAQ:ISRG) are down close to 1% in after hours trading.

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