Welcome to our dedicated page for Intuitive Surgical news (Ticker: ISRG), a resource for investors and traders seeking the latest updates and insights on Intuitive Surgical stock.
Intuitive Surgical Inc. (NASDAQ: ISRG) is a pioneering American corporation headquartered in Sunnyvale, California. The company specializes in the development, manufacturing, and marketing of advanced robotic products that enhance clinical outcomes through minimally invasive surgical techniques. The cornerstone of Intuitive Surgical's innovation is the da Vinci Surgical System, a state-of-the-art robotic platform designed to facilitate complex surgeries with precision and control.
Intuitive Surgical's mission is to transform the surgical experience by providing surgeons with innovative tools that enable better patient outcomes. The da Vinci Surgical System offers a highly magnified, three-dimensional view and robotic assistance, helping surgeons perform precise dissections and reconstructions deep within the body. The system includes several models, including the multiport da Vinci X and Xi and the single-port da Vinci SP, giving hospitals and surgeons versatile options tailored to their needs.
The company has successfully installed over 8,600 da Vinci systems in hospitals worldwide, with more than 5,000 of these installations in the United States alone. The growing presence of these systems in emerging markets underscores the global demand for cutting-edge surgical technology.
In recent news, Intuitive Surgical announced the FDA clearance of its latest generation system, the da Vinci 5, which builds on over a decade of research and offers more than 150 enhancements. This new system aims to improve patient outcomes further, enhance the surgical experience, and reduce overall healthcare costs. Initial deployment of the da Vinci 5 will be limited to select U.S. hospitals with mature robotic surgery programs, before a broader commercial launch.
Intuitive's financial performance remains robust, as highlighted in its recent quarterly reports. The company continues to experience growth in revenue and market penetration, driven by the increasing adoption of robotic-assisted surgery. Its strategic partnerships and collaborations further solidify its market leadership and commitment to innovation.
Intuitive Surgical also emphasizes continuous learning and support for surgical teams, offering comprehensive training programs and educational resources to ensure optimal use of its technologies. The company's dedication to advancing healthcare is reflected in its robust research and development initiatives, aimed at expanding the capabilities and applications of robotic-assisted surgery.
For more detailed financial and operational updates, please visit Intuitive Surgical's official website at www.intuitive.com.
Intuitive (NASDAQ:ISRG), a global leader in minimally invasive care and robotic-assisted surgery, has appointed its President David J. Rosa to the company's Board of Directors, effective July 24, 2024. Rosa joins CEO Gary S. Guthart as one of two Intuitive executives on the Board. With nearly 27 years at Intuitive, Rosa has held leadership positions across multiple functions and currently oversees the company's business unit, quality, regulatory, manufacturing, and commercial operations.
Rosa's appointment expands the Board from eleven to twelve directors, adding his deep operational experience to complement Guthart's focus on enterprise strategy. This move aims to balance strategy and operations at the Board level, enhancing Intuitive's stewardship.
Intuitive (Nasdaq: ISRG) reported strong Q2 2024 financial results, with revenue increasing 14% to $2.01 billion. Worldwide da Vinci procedures grew approximately 17% compared to Q2 2023. The company placed 341 da Vinci surgical systems, including 70 da Vinci 5 systems, bringing the total installed base to 9,203 systems, a 14% increase year-over-year.
GAAP net income attributable to Intuitive was $527 million, or $1.46 per diluted share, while non-GAAP net income was $641 million, or $1.78 per diluted share. Instruments and accessories revenue increased by 16% to $1.24 billion, driven by procedure volume growth. The company ended Q2 with $7.68 billion in cash, cash equivalents, and investments.
Intuitive (NASDAQ: ISRG) announced FDA clearance for revised labeling of its da Vinci X and Xi systems, specific to radical prostatectomy. The revision is based on real-world evidence from 2007 to 2014, indicating similar five- to 10-year cancer survival rates for robotic-assisted and open surgeries. This collaboration involved the FDA, Aetion, and NEST, highlighting the potential of real-world data in regulatory science. The labeling change reflects these findings, affirming the non-inferiority of robotic-assisted surgeries in cancer treatment outcomes.
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