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Intuitive expects da Vinci procedures to extend no less than 12% in 2023


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The Da Vinci Xi robotic surgical procedure system. Intuitive continues to dominate the house. | Supply: 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 no less than 12% this yr.

The Sunnyvale, California-based surgical robotic developer expects fourth-quarter income to complete $1.66 billion. Whereas that represents a 7% enhance from the identical interval in 2021, it falls simply shy of Wall Road expectations. Analysts projected revenues totaling $1.68 billion. The corporate expects full-year 2022 revenues of $6.22 billion for a 9% enhance over the earlier yr.

Shares of ISRG dipped 4.3% at $259.70 apiece in early-morning buying and selling as we speak. MassDevice’s MedTech 100 Index — which incorporates shares of the world’s largest medical system 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, based on a information launch. The corporate additionally positioned fewer da Vinci methods in comparison with the identical interval within the earlier yr (369 vs. 385). General placements decreased 6% from 1,347 in 2021 to 1,264 in 2022, Intuitive mentioned.

Regardless of fewer placements, Intuitive initiatives da Vinci procedures to extend by roughly 12–16% year-over-year in 2023.

COVID-19 headwinds out of China may show transitory

The corporate famous that the COVID-19 resurgence impacted da Vinci process volumes within the U.S. and Europe. Nonetheless, recoveries quickly adopted. The virus could proceed to adversely affect its process volumes, Intuitive mentioned.

“Our clients continued to develop their adoption of our coaching, merchandise, and providers within the fourth quarter and for the total yr,” mentioned CEO Gary Guthart. “We stay centered on supporting our clients’ drive to enhance the quadruple intention in acute interventions.”

Analysts suppose 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 Word: This text first appeared on sister web site MassDevice.

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