Intuitive Falls as Covid Slows Robotic Surgical Procedures By Investing.com

Intuitive Falls as Covid Slows Robotic Surgical Procedures

Stock Markets Jan 21, 2022 09:48AM ET

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Intuitive Falls as Covid Slows Robotic Surgical Procedures

By Dhirendra Tripathi

Investing.com – Intuitive Surgical stock (NASDAQ:ISRG) 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.

The company warned that the pandemic impact could continue to linger and affect procedure volumes even as its fourth-quarter earnings and revenue beat estimates.

The da Vinci surgical systems are designed to help surgeons perform minimally invasive surgery. The systems offer surgeons high-definition 3D vision, a magnified view, and robotic and computer assistance, helping them perform precise dissection and reconstruction deep inside the body.

While the number of procedures using da Vinci systems remain under pressure, the company said it shipped 385 of them, an increase of 18% year-on-year. It closed the year with an installed base of such systems at 6,730.

Fourth-quarter revenue rose 17% to $1.6 billion, driven by growth in da Vinci procedure volume and system placements.

Net profit for the quarter came in at $477 million, or $1.3 per share, compared with $434 million, or $1.19 per share in the same period a year ago.

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