Intuitive Surgical (ISRG, Financial) has announced impressive financial results for the first quarter of 2024, outstripping revenue expectations. The company reported revenue of $2.25 billion, surpassing analysts' consensus estimate of $2.19 billion.
The growth is primarily attributed to a significant increase in the use of its da Vinci surgical systems. Worldwide procedures performed with the da Vinci systems rose approximately 17% compared to the first quarter of the previous year. Furthermore, Intuitive Surgical placed 367 new da Vinci units, up from 313 systems in the same period last year.
The company's CEO, Gary Guthart, emphasized that key business indicators show robust performance, driven by ongoing customer adoption of Intuitive's platforms, including the da Vinci 5. He reiterated the company's commitment to assisting customers in achieving better patient outcomes, enhancing patient and care team experiences, lowering the total cost of treatment, and expanding access to care.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 26 analysts, the average target price for Intuitive Surgical Inc (ISRG, Financial) is $624.07 with a high estimate of $700.00 and a low estimate of $510.00. The average target implies an upside of 30.36% from the current price of $478.74. More detailed estimate data can be found on the Intuitive Surgical Inc (ISRG) Forecast page.
Based on the consensus recommendation from 33 brokerage firms, Intuitive Surgical Inc's (ISRG, Financial) average brokerage recommendation is currently 2.1, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Intuitive Surgical Inc (ISRG, Financial) in one year is $485.45, suggesting a upside of 1.4% from the current price of $478.74. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Intuitive Surgical Inc (ISRG) Summary page.
