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Intuitive Surgical (ISRG) Up After da Vinci SP's Japan Approval

Shares of Intuitive Surgical ISRG have gained 7.9% since Sep 30, following the approval for its single-port robotic surgical system — da Vinci SP — from Japan’s Ministry of Health, Labour and Welfare (MHLW). The Japanese regulatory authority has cleared the da Vinci SP surgical system for use in different surgeries like general surgeries, thoracic surgeries (excluding cardiac procedures and intercostal approaches), urologic surgeries, gynecological surgeries, and transoral head and neck surgeries.

Intuitive Surgical is planning to launch the new single-port robotic surgical system in Japan soon. The company stated that da Vinci SP can also be used in Korea for urologic surgery, general laparoscopic surgery, gynecologic laparoscopic surgery, general thoracoscopic surgery, and otolaryngologic surgery performed via an oral approach.

The da Vinci SP system is already approved and available in the United States for urology and transoral otolaryngology procedures.

Intuitive Surgical’s robotic surgical system is already available in Japan for more than a decade. The company has added coverage for 29 robotic-assisted procedure types by public insurance since its first approval for its multi-port system in 2009.

Intuitive Surgical, Inc. Price

Intuitive Surgical, Inc. Price
Intuitive Surgical, Inc. Price

Intuitive Surgical, Inc. price | Intuitive Surgical, Inc. Quote

The approval for a single-port robotic surgical system will enable Japanese surgeons for a minimally invasive experience for complex procedures. The robotic-assisted technology used in the da Vinci SP system allows surgeons for deep and narrow access to tissue in the body. The robotic surgery system enables flexible port placement and excellent internal and external range of motion through the single SP arm. Surgeons control the fully articulating instruments and the camera on the da Vinci SP system from a surgeon console.

The da Vinci SP is part of Intuitive’s fourth generation of products, which also includes the da Vinci X and Xi multiport systems, offering more options to its customers.

Intuitive Surgical’s robot-based da Vinci surgical system enables minimally-invasive surgery that reduces risks associated with open surgery. The company continues to gain from this system, which in turn bolsters overall performance. The recent approval in Japan will boost the company’s top line going forward. Intuitive Surgical had 7,135 da Vinci surgical systems by the end of the second quarter of 2022, with the installed base rising 12.6% year over year. For 2022, the company projects procedure growth of 12-16%.

Shares of this Zacks Rank #2 (Buy) company have lost 43.9% compared with the industry’s decline of 34.1% this year. The S&P 500 Index has declined 21.1% in the same time frame.

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Other Key Picks

Some other top-ranked stocks in the broader medical space are ShockWave Medical SWAV, McKesson MCK and Abiomed ABMD. While ShockWave Medical sports a Zacks Rank #1 (Strong Buy), McKesson and Abiomed carry a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Estimates for ShockWave Medical’s earnings per share rose from $2.02 to $2.57 for 2022 and from $2.95 to $3.42 for 2023 in the past 60 days. SWAV has gained 59.9% so far this year.

ShockWave Medical delivered an earnings surprise of 180.14%, on average, in the last four quarters.

Estimates for McKesson’s earnings per share increased from $23.27 to $24.42 for fiscal 2023 and $25.53 to $26.04 for fiscal 2024 in the past 60 days. MCK has gained 42.6% so far this year.

McKesson delivered an earnings surprise of 13.00%, on average, in the last four quarters.

Estimates for Abiomed have improved from earnings of $4.73 to $4.77 for fiscal 2023 and $5.59 to $5.63 for fiscal 2024 in the past 60 days. ABMD stock has declined 26.4% so far this year.

Abiomed delivered an earnings surprise of 10.89%, on average, in the last four quarters.


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