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Free Research Report as Intuitive Surgical's Revenues Jumped 20%; Non-GAAP EPS Surged 38%

Stock Monitor: NeuroMetrix Post Earnings Reporting

LONDON, UK / ACCESSWIRE / July 25, 2018 / If you want access to our free earnings report on Intuitive Surgical, Inc. (NASDAQ: ISRG), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ISRG. The Company reported its second quarter fiscal 2018 operating and financial results on July 19, 2018. The robotic surgical systems maker outperformed top- and bottom-line expectations. Additionally, the Company provided its guidance for FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:


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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Intuitive Surgical most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:


Earnings Highlights and Summary

For the second quarter of the fiscal year 2018, Intuitive Surgical's revenues grew approximately 20% to $909 million compared to $759 million in Q2 2017. The Company's total recurring revenues were $643 million in the reported quarter, representing 71% of the Company's total revenues. Intuitive Surgical's revenue numbers beat analysts' estimates of $876 million.

During Q2 2018, Intuitive Surgical's GAAP income from operations increased to $277 million compared to $260 million in Q2 2017. The Company's GAAP income from operations included a pre-tax litigation charge of $43 million in the reported quarter. Intuitive Surgical's non-GAAP income from operations increased to $389 million in Q2 2018 compared to $315 million in Q2 2017.

For Q2 2018, Intuitive Surgical's GAAP net income was $255 million, or $2.15 per diluted share, compared to $223 million, or $1.94 per diluted share, in Q2 2017. The Company's non-GAAP net income was $327 million, or $2.76 per diluted share, in the reported quarter compared to $230 million, or $2.00 per diluted share, in the prior year's same quarter. Intuitive Surgical's earnings surpassed Wall Street's estimates of $2.50 per share.

Operating Results

During Q2 2018, Intuitive Surgical's worldwide da Vinci procedures grew approximately 18% on a y-o-y basis, driven primarily by a growth in US general surgery procedures and worldwide urologic procedures. The Company shipped 220 da Vinci Surgical Systems in the reported quarter compared to 166 in the year earlier same quarter. Intuitive Surgical's system shipments included 44 systems shipped under operating lease arrangements in Q2 2018 compared to 27 during Q2 2017.

For Q2 2018, Intuitive Surgical's instrument and accessory revenues increased by approximately 20% to $476 million compared to $398 million in Q2 2017, primarily driven by a growth of approximately 18% in da Vinci procedure volume.

Intuitive Surgical's systems revenues increased by approximately 25% to $277 million in Q2 2018 compared to $221 million in Q2 2017. The Company's service revenues increased by approximately 11% to $156 million in the reported quarter versus $140 million in the year earlier comparable quarter.

Cash Matters

Intuitive Surgical ended Q2 2018 with cash, cash equivalents, and investments of $4.3 billion, representing an increase of $191 million, primarily driven by cash generated from operations.


Intuitive Surgical raised its forecasts and estimated a procedure growth of 14.5% to 16.5% for the full fiscal year 2018. The Company is expecting pro-forma gross profit margin as a percentage of net revenues to be within a range of 70% and 71.5%.

Stock Performance Snapshot

July 24, 2018 - At Tuesday's closing bell, Intuitive Surgical's stock was marginally up 0.64%, ending the trading session at $523.22.

Volume traded for the day: 924.62 thousand shares, which was above the 3-month average volume of 811.43 thousand shares.

Stock performance in the last month - up 8.28%; previous three-month period - up 19.88%; past twelve-month period - up 65.37%; and year-to-date - up 43.37%

After yesterday's close, Intuitive Surgical's market cap was at $60.56 billion.

Price to Earnings (P/E) ratio was at 53.88.

The stock is part of the Healthcare sector, categorized under the Medical Instruments & Supplies industry. This sector was up 0.4% at the end of the session.


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