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The Da Vinci Xi robotic surgical procedure system. Intuitive continues to dominate the house. | Supply: Intuitive
Intuitive Surgical (Nasdaq:ISRG) launched preliminary This fall outcomes that included a slight income miss, although the corporate expects da Vinci surgical robotic procedures to develop at the least 12% this 12 months.
The Sunnyvale, California-based surgical robotic developer expects fourth-quarter income to complete $1.66 billion. Whereas that represents a 7% enhance from the identical interval in 2021, it falls simply shy of Wall Road expectations. Analysts projected revenues totaling $1.68 billion. The corporate expects full-year 2022 revenues of $6.22 billion for a 9% enhance over the earlier 12 months.
Shares of ISRG dipped 4.3% at $259.70 apiece in early-morning buying and selling at present. MassDevice’s MedTech 100 Index — which incorporates shares of the world’s largest medical machine corporations — rose 8.8%.
Worldwide procedures with the da Vinci surgical robotic grew 18% in comparison with the fourth quarter of 2021. This occurred regardless of a COVID-19 resurgence in China, which impacted process volumes within the space, in response to a information launch. The corporate additionally positioned fewer da Vinci techniques in comparison with the identical interval within the earlier 12 months (369 vs. 385). General placements decreased 6% from 1,347 in 2021 to 1,264 in 2022, Intuitive mentioned.
Regardless of fewer placements, Intuitive initiatives da Vinci procedures to extend by roughly 12–16% year-over-year in 2023.
Intuitive’s COVID-19 headwinds out of China may show transitory
The corporate famous that COVID-19 resurgence impacted da Vinci process volumes within the U.S. and Europe. Nonetheless, recoveries quickly adopted. The virus might proceed to adversely influence its process volumes, Intuitive mentioned.
“Our clients continued to develop their adoption of our coaching, merchandise, and companies within the fourth quarter and for the complete 12 months,” mentioned CEO Gary Guthart. “We stay targeted on supporting our clients’ drive to enhance the quadruple purpose in acute interventions.”
Truist analysts assume the process quantity headwinds show transitory as they’ve with earlier COVID disruptions in China. They described Intuitive as one of many highest-quality progress names in large-cap medtech.
Editor’s Notice: This text first appeared on sister web site MassDevice.
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