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Intuitive Falls as Covid Slows Robotic Surgical Procedures -Breaking

by Mike Robinson

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© Reuters

By Dhirendra Tripathi

Investing.com – Intuitive Surgical stock (NASDAQ:) slipped 5% Friday as the healthcare company said Covid resurgences have put pressure on the number of procedures using its da Vinci robotic surgical system.

Even though its revenue and earnings were higher than expected, the company cautioned that pandemic effects could continue to affect procedures volumes.

Surgeons can perform minimally-invasive surgery with the da Vinci surgical system. They provide high-definition, 3D vision for surgeons. This allows them to see the inside of the body with precision.

Although the demand for da Vinci procedures is still high, 385 units were shipped by the company, an 18% increase year-on-year. With 6,730 installed systems, it closed out the year.

The fourth quarter revenue rose by 17% to $1.6billion, mainly due to an increase in da Vinci procedures volume and system placements.

Quarterly net profit came to $477million or $1.3 per Share, as compared to the $434million or $1.19/share in the same period last year.

 

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