Intuitive Surgical (ISRG) Shares Down 3%, Despite Q4 Beat

Intuitive Surgical, Inc. (NASDAQ: ISRG) shares were trading more than 3% lower after-hours despite the company’s reported Q4 results, which came in at better than the Street estimates and consistent with the company’s press release issued on January 12, 2022.

Quarterly EPS came in at $1.30, beating the consensus estimate of $1.28. Revenues grew 17% year-over-year to $1.55 billion, above the consensus estimate of $1.52 billion. The compound annual growth rate between Q4/2019 and Q42021 was approximately 10%.

Worldwide da Vinci procedures grew around 19% year-over-year, mainly driven by growth in U.S. general surgery procedures and growth in OUS markets. The compound annual growth rate between Q4/2019 and Q4/2021 was approximately 13%. This figure is particularly important, as Q4/2020 reflected significant disruption caused by the COVID-19 pandemic, and Q4/21 quarter reflected a COVID-19 resurgence later in the quarter.

The company shipped 385 da Vinci Surgical Systems, which represents an 18% growth year-over-year. The Company increased its da Vinci Surgical System installed base to 6,730 systems, which represents a 12% year-over-year growth.

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