Intuitive Shares rise in wake of solid Q2 beat

Shares in Intuitive Surgical (NSDQ:ISRG) rose today in after hours trading after the surgical robotics maker topped expectations on Wall Street with its 2nd quarter earnings results.

The Sunnyvale, Calif.-based company posted profits of $221.5 million, or $5.77 per share, on sales of $756.2 million for the 3 months ended June 30, for bottom-line growth of 23.2% while sales grew 12.2% compared with the same period in the previous year.

After adjusting to exclude 1-time items, earnings per share were $5.95, well above of the $5.79 consensus on The Street, where analysts were looking for sales of $723.8 million.

“We are pleased with our second quarter financial results, procedure growth, and da Vinci System placements. During the quarter we expanded our systems’ product line, while offering hospitals increasing economic flexibility to establish or expand their robotics programs,” CEO Dr. Gary Guthart said in a prepared statement.

After a positive day of trading with the company closing up 0.5%, shares have risen 1.4% in after-hours trading following the earnings release, at $985 as of 4:30 p.m. EDT.

Intuitive Surgical did not update on guidance for the rest of its fiscal year.

In late May, Intuitive Surgical said it won FDA 510(k) clearance for its new da Vinci X robotic surgical system, with a planned release of the platform later this year.

The newly cleared da Vinci X system offers access to multiple robotic-assisted surgical technologies at a lower price than previous models, the company said. The system operates on the same vision cart and surgeon consoles used by the company’s flagship da Vinci Xi system.

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