Intuitive Surgical Posts Higher 4Q Profit, Sales

By Kimberly Chin

Intuitive Surgical Inc. said profit and sales rose in the fourth quarter due to a rise in procedure volume of its da Vinci surgical systems though that was offset by fewer system placements due to the pandemic.

The robotic-assisted surgical technology and solutions provider recorded a profit of $365 million, or $3.02 a share, up from $362.7 million, or $2.99 a share, in the same period a year earlier. Intuitive's adjusted earnings were $3.58 a share. Analysts polled by FactSet expected adjusted earnings of $3.13 a share.

Revenue was $1.33 billion, up from $1.28 billion a year ago. Analysts were looking for $1.25 billion in revenue.

The number of daVinci procedures worldwide rose 6% from last year's fourth quarter. Intuitive shipped 362 da Vinci systems in the quarter, a 3% decline compared with the year-earlier period. The installed base of those devices stood at 5,989 systems as of Dec. 31, up 7% from a year ago.

Write to Kimberly Chin at [e-mail]

(END) Dow Jones Newswires

January 21, 2021 16:35 ET (21:35 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.