Intuitive Surgical Stock Soars After Earnings Beat: Retail Sentiment Brightens

Shares of Intuitive Surgical surged as much as 8.6% on Friday after the medical technology company’s third quarter earnings beat consensus estimates, turning around retail sentiment to ‘extremely bullish’.

Sunnyvale, Calif.-based Intuitive, which provides robot-assisted surgical systems, posted third-quarter (Q3) earnings per share (EPS) of $1.84 on revenue of $2.04 billion, up 17% from the year-ago period. The consensus estimates for its earnings per share were $1.64 per share on revenue of $2.03 billion.

Retail sentiment on the stock jumped from ‘neutral’ on Thursday (46/100) to ‘extremely bullish’ (96/100) on Friday. The message volumes about the stock were ‘extremely high’ at 96/100.

The increased revenues were driven by growth in “da Vinci” procedures and the number of installed systems, according to a company statement.

The firm’s non-GAAP net income stood at $669 million, up from $524 million in the same quarter in 2023.

“Core measures of our business were healthy this quarter, and we are pleased by customer adoption of da Vinci 5,” said Gary Guthart, Intuitive CEO. “We remain focused on delivering the goals we share with our customers, centered on improving patient outcomes.”

The company plans to expand its business in South Korea, and noted the recent regulatory clearance for the da Vinci 5 surgical systems designed for use in a variety of surgical procedures.

Intuitive stock is up 55% year-to-date.

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