Investing.com - Intuitive Surgical (NASDAQ:ISRG) reported on Thursday fourth quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Intuitive Surgical shares are down 18% from the beginning of the year. They rose 1.44% after-hours in reaction to the earnings report.
Intuitive Surgical announced earnings per share of $1.30 on revenue of $1.55 billion. Analysts polled by Investing.com anticipated EPS of $1.28 on revenue of $1.51 billion.
The medical robotics company said worldwide da Vinci procedures increased approximately 19% compared with Q4 2020, driven largely by growth in U.S. general surgery procedures and development outside the US market. In addition, Intuitive grew its da Vinci Surgical System installed base to 6,730, an increase of 12% compared with 5,989 as of the end of the fourth quarter of 2020.
During 2021, the company saw a further impact as a result of Covid-19 resurgences which affected its da Vinci procedure volumes, with the impact on its business differing by geography and region.
"COVID-19 has had, and will likely continue to have, an adverse impact on the company’s procedure volumes," they added.