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Intuitive Surgical (ISRG) Posts Robust Preliminary Q4 Results

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Intuitive Surgical, Inc. ISRG recently announced preliminary results for fourth-quarter and full-year 2021.

Revenues are anticipated to be about $1.55 billion, up 17% year over year. The Zacks Consensus Estimate for the metric is pegged at $1.54 billion.

The company is scheduled to release fourth-quarter and full-year financial results on Jan 20.

Highlights

Preliminary instrument and accessories revenues increased 13% on a year-over-year basis in fourth-quarter 2021 to about $843 million, primarily driven by growth in da Vinci procedure volume. This was partially offset by stocking orders related to the company’s launch of Extended Use Instruments in the prior year.

Per the preliminary announcement, systems revenues increased 28% to around $470 million compared with the prior-year quarter.

Full-Year Results

On a full-year basis, revenues are expected to be around $5.71 billion, indicating an improvement of 31% from the previous year. The Zacks Consensus Estimate for revenues is pegged at $5.68 billion.

Preliminary instrument and accessories revenues for 2021 surged 26% year over year to about $3.10 billion fueled by growth in da Vinci procedure volume. Meanwhile, preliminary systems revenues for 2021 rose 44% year over year to around $1.69 billion.

da Vinci Update

Fourth-quarter 2021 worldwide da Vinci procedures increased approximately 19% from the year-ago quarter despite COVID-19 resurgence in the latter part of the quarter. The company shipped 385 da Vinci Surgical Systems in the fourth quarter compared with 326 in the year-ago period.

Full-year worldwide da Vinci procedures increased about 28% from the previous year. The company shipped 1,347 da Vinci Surgical Systems in 2021 compared with 936 in 2020.

COVID-19 Impact

The COVID-19 resurgences continued to have an impact on Intuitive Surgical’s da Vinci procedure volumes and system placements as healthcare resources globally channeled their resources to combat the pandemic.

The adverse impact of the pandemic on the company’s business continues to differ by geography and region.

Shares Down

Despite reporting upbeat preliminary fourth-quarter and full-year 2021 preliminary results, Intuitive Surgical’s shares fell 1.7% to $307.74 on Jan 14.

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The Zacks Rank #2 (Buy) stock has lost 1% compared with the industry’s decline of 2.8% in the past six months.

Other Key Picks

Some other top-ranked stocks in the broader medical space include AMN Healthcare Services, Inc. AMN, Henry Schein, Inc. HSIC and Laboratory Corporation of America Holdings LH.

AMN Healthcare surpassed earnings estimates in each of the trailing four quarters, the average surprise being 19.5%. The company currently sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

AMN Healthcare’s long-term earnings growth rate is estimated at 16.2%. The company’s earnings yield of 5.5% compares favorably with the industry’s 0.8%.

Henry Schein beat earnings estimates in each of the trailing four quarters, the average surprise being 21.9%. The company currently carries a Zacks Rank #2.

Henry Schein’s long-term earnings growth rate is estimated at 11.8%. The company’s earnings yield of 5.9% compares favorably with the industry’s 4.1%.

Laboratory Corporation surpassed earnings estimates in each of the trailing four quarters, the average surprise being 25.7%. The company currently sports a Zacks Rank #1.

Laboratory Corporation’s long-term earnings growth rate is estimated at 10.6%. The company’s earnings yield of 9.4% compares favorably with the industry’s 3.4%.


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Laboratory Corporation of America Holdings (LH) : Free Stock Analysis Report

Intuitive Surgical, Inc. (ISRG) : Free Stock Analysis Report

Henry Schein, Inc. (HSIC) : Free Stock Analysis Report

AMN Healthcare Services Inc (AMN) : Free Stock Analysis Report

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