Intuitive Surgical Q3 results top estimates on higher da Vinci system placements

Intuitive Surgical

Tue 21:15

Overview
Robotic surgery tech firm's Q3 revenue rose 22% yr/yr, beating analyst expectations
Adjusted EPS for Q3 was $3.00, beating analyst expectations
Company repurchased $2.94 bln in shares during the quarter

Outlook
Company expects 2026 da Vinci procedure growth of 14% to 15%, near midpoint of range
Company sees 2026 non-GAAP gross margin between 68.7% and 69.3% of revenue
Company expects 2026 non-GAAP operating expense growth of 11% to 13%

Result Drivers
PROCEDURE VOLUME AND INSTALLED BASE - Co said revenue growth was driven by increased procedure volume, higher operating lease revenue, and a larger installed base of systems
INSTRUMENTS AND ACCESSORIES SALES - 18% rise in instruments and accessories revenue was mainly due to 14% growth in da Vinci procedure volume and 31% growth in Ion procedure volume
SYSTEM PLACEMENTS - Increased da Vinci system placements and a higher lease installed base contributed to higher systems revenue

Company press release: ID:nGNX5hFpMB

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$3.05 bln
$2.91 bln (25 Analysts)
Q3 Adjusted EPS
Beat
$3
$2.64 (24 Analysts)
Q3 EPS
 
$1.49
 
Q3 Adjusted Net Income
Beat
$1.05 bln
$940.86 mln (20 Analysts)

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 25 "strong buy" or "buy", 9 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"
Wall Street's median 12-month price target for Intuitive Surgical, Inc. is $485.00, about 12% above its October 19 closing price of $433.18
The stock recently traded at 37 times the next 12-month earnings vs. a P/E of 36 three months ago

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)