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What's in Store for Intuitive Surgical's (ISRG) Q2 Earnings?
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Intuitive Surgical, Inc. (ISRG - Free Report) is scheduled to release second-quarter 2021 results on Jul 20, after the closing bell.
In the last reported quarter, the company delivered an earnings surprise of 34.9%. Its earnings beat estimates in each of the trailing four quarters, the average surprise being 78.8%.
Q2 Estimates
Currently, the Zacks Consensus Estimate for second-quarter revenues is pegged at $1.28 billion, suggesting an improvement of 50.8% from the year-ago reported figure. The consensus mark for earnings stands at $3.16 per share, indicating growth of 184.7% from the prior-year quarter.
Factors to Note
The Instruments & Accessories segment is likely to have witnessed a strong second-quarter backed by growth in da Vinci procedure volume. For the second quarter, the Zacks Consensus Estimate for the same is pegged at $717 million, suggesting growth of 55.5% on a year-over-year basis.
In first-quarter 2021, da Vinci procedures grew 16%, while the company placed 6,142 da Vinci surgical systems, with the installed base growing 8% year over year. The momentum is likely to have continued in the second quarter.
Intuitive Surgical might have witnessed improvement with respect to international revenues in the to-be-reported quarter courtesy of robust procedure growth in Asia.
Despite COVID-19 induced disruptions, uptake of newly launched products, and its latest endoscope, Endoscope Plus, have been encouraging.
Plus, the company’s Ion program continues to move ahead despite pandemic-induced challenges. In fact, the company installed 14 systems in the first quarter.
With respect to digital capabilities, the company’s My Intuitive, which is a mobile app enabling surgeons to manage their da Vinci experience, log into da Vinci systems, manage their training, and view their operative data from the palm of their hand, has been helping amid this public health crisis.
The company’s Intuitive telepresence program supported 45% of all case observations in first-quarter 2021, up from less than 5% in the prior year, a substantial achievement that was accelerated by the pandemic. This, in turn, lowered the costs of the team at Intuitive Surgical, while boosting convenience for its customers. On a year-over-year basis, surgical stimulation usage increased around 46%, thereby validating the strength of digital tools.
These developments are likely to have contributed to Intuitive Surgical’s second-quarter performance.
What Our Quantitative Model Suggests
Per our proven model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here as you will see.
Earnings ESP: Intuitive Surgical has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: It carries a Zacks Rank #3.
Stocks Worth a Look
Here are some medical stocks worth considering as these have the right combination of elements to post an earnings beat this quarter.
Image: Bigstock
What's in Store for Intuitive Surgical's (ISRG) Q2 Earnings?
Intuitive Surgical, Inc. (ISRG - Free Report) is scheduled to release second-quarter 2021 results on Jul 20, after the closing bell.
In the last reported quarter, the company delivered an earnings surprise of 34.9%. Its earnings beat estimates in each of the trailing four quarters, the average surprise being 78.8%.
Q2 Estimates
Currently, the Zacks Consensus Estimate for second-quarter revenues is pegged at $1.28 billion, suggesting an improvement of 50.8% from the year-ago reported figure. The consensus mark for earnings stands at $3.16 per share, indicating growth of 184.7% from the prior-year quarter.
Factors to Note
The Instruments & Accessories segment is likely to have witnessed a strong second-quarter backed by growth in da Vinci procedure volume. For the second quarter, the Zacks Consensus Estimate for the same is pegged at $717 million, suggesting growth of 55.5% on a year-over-year basis.
In first-quarter 2021, da Vinci procedures grew 16%, while the company placed 6,142 da Vinci surgical systems, with the installed base growing 8% year over year. The momentum is likely to have continued in the second quarter.
Intuitive Surgical, Inc. Price and EPS Surprise
Intuitive Surgical, Inc. price-eps-surprise | Intuitive Surgical, Inc. Quote
Intuitive Surgical might have witnessed improvement with respect to international revenues in the to-be-reported quarter courtesy of robust procedure growth in Asia.
Despite COVID-19 induced disruptions, uptake of newly launched products, and its latest endoscope, Endoscope Plus, have been encouraging.
Plus, the company’s Ion program continues to move ahead despite pandemic-induced challenges. In fact, the company installed 14 systems in the first quarter.
With respect to digital capabilities, the company’s My Intuitive, which is a mobile app enabling surgeons to manage their da Vinci experience, log into da Vinci systems, manage their training, and view their operative data from the palm of their hand, has been helping amid this public health crisis.
The company’s Intuitive telepresence program supported 45% of all case observations in first-quarter 2021, up from less than 5% in the prior year, a substantial achievement that was accelerated by the pandemic. This, in turn, lowered the costs of the team at Intuitive Surgical, while boosting convenience for its customers. On a year-over-year basis, surgical stimulation usage increased around 46%, thereby validating the strength of digital tools.
These developments are likely to have contributed to Intuitive Surgical’s second-quarter performance.
What Our Quantitative Model Suggests
Per our proven model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here as you will see.
Earnings ESP: Intuitive Surgical has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: It carries a Zacks Rank #3.
Stocks Worth a Look
Here are some medical stocks worth considering as these have the right combination of elements to post an earnings beat this quarter.
HillRom Holdings, Inc. has an Earnings ESP of +0.56% and a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Hologic, Inc. (HOLX - Free Report) has an Earnings ESP of +0.45% and a Zacks Rank of 3.
Avanos Medical, Inc. (AVNS - Free Report) has an Earnings ESP of +15.72% and a Zacks Rank of 3.