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The Da Vinci Xi robotic surgical procedure system. Intuitive continues to dominate the area. | Source: Intuitive
Intuitive Surgical launched preliminary This autumn outcomes that included a slight income miss, although the corporate expects da Vinci surgical robotic procedures to develop not less than 12% this 12 months.
The Sunnyvale, California-based surgical robotic developer expects fourth-quarter income to whole $1.66 billion. While that represents a 7% enhance from the identical interval in 2021, it falls simply shy of Wall Street expectations. Analysts projected revenues totaling $1.68 billion. The firm expects full-year 2022 revenues of $6.22 billion for a 9% enhance over the earlier 12 months.
Shares of ISRG dipped 4.3% at $259.70 apiece in early-morning buying and selling right now. MassDevice’s MedTech 100 Index — which incorporates shares of the world’s largest medical gadget corporations — rose 8.8%.
Worldwide procedures with the da Vinci surgical robotic grew 18% in comparison with the fourth quarter of 2021. This occurred regardless of a COVID-19 resurgence in China, which impacted process volumes within the space, in response to a information launch. The firm additionally positioned fewer da Vinci methods in comparison with the identical interval within the earlier 12 months (369 vs. 385). Overall placements decreased 6% from 1,347 in 2021 to 1,264 in 2022, Intuitive stated.
Despite fewer placements, Intuitive tasks da Vinci procedures to extend by roughly 12–16% year-over-year in 2023.
COVID-19 headwinds out of China might show transitory
The firm famous that the COVID-19 resurgence impacted da Vinci process volumes within the U.S. and Europe. However, recoveries quickly adopted. The virus might proceed to adversely affect its process volumes, Intuitive stated.
“Our customers continued to grow their adoption of our training, products, and services in the fourth quarter and for the full year,” stated CEO Gary Guthart. “We remain focused on supporting our customers’ drive to improve the quadruple aim in acute interventions.”
Analysts assume the process quantity headwinds show transitory as they’ve with earlier COVID disruptions in China. They described Intuitive as one of many highest-quality development names in large-cap medtech.
Editor’s Note: This article first appeared on sister web site MassDevice.