Active Stock Evaluation: Intuitive Surgical (NASDAQ: ISRG)

SUNNYVALE, Calif., June 24, 2019 – Shares of Intuitive Surgical (NASDAQ: ISRG) showed the bearish trend with a lower momentum of -1.09% to $527.23. The company traded total volume of 1.109M shares as contrast to its average volume of 812.94K shares. The company has a market value of $61.54B and about 116.72M shares outstanding.

Intuitive Surgical, Inc. (ISRG) recently declared financial results for the quarter ended March 31, 2019.

Q1 Financial Summary:

First quarter 2019 revenue was $974.0M, an increase of approximately 15% compared with $848.0M in the first quarter of 2018. Higher first quarter revenue was driven by increased procedures and systems placements.

First quarter 2019 instrument and accessory revenue increased by approximately 20% to $552.0M, compared with $460.0M for the first quarter of 2018, primarily driven by approximately 18% growth in da Vinci procedure volume.

First quarter 2019 systems revenue increased by approximately 6% to $248.0M, compared with $235.0M for the first quarter of 2018. The Company shipped 235 da Vinci Surgical Systems in the first quarter of 2019, compared with 185 in the first quarter of 2018. The first quarter 2019 system shipments included 78 systems shipped under operating lease and usage-based arrangements, compared with 43 during the first quarter of 2018.

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First quarter 2019 GAAP income from operations decreased to $252.0M, compared with $277.0M in the first quarter of 2018. First quarter 2019 GAAP income from operations included intangible asset charges of $30.0M, compared with $8.0M in the first quarter of 2018, and share-based compensation expense of $76.0M, compared with $58.0M in the first quarter of 2018. First quarter 2019 non-GAAP income from operations increased to $362.0M, compared with $346.0M in the first quarter of 2018.

First quarter 2019 GAAP net income was $307.0M, or $2.56 per diluted share, compared with $288.0M, or $2.44 per diluted share, for the first quarter of 2018. First quarter 2019 GAAP net income included excess tax benefits of $73.0M, or $0.61 per share, compared with $55.0M, or $0.46 per share, for the first quarter of 2018.

First quarter 2019 non-GAAP net income was $312.0M, or $2.61 per diluted share, compared with $288.0M, or $2.44 per diluted share, for the first quarter of 2018.

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The Company ended the first quarter of 2019 with $5.10B in cash, cash equivalents, and investments, an increase of $230.0M during the quarter, primarily driven by cash generated from operations.

The Company offered net profit margin of 29.80% while its gross profit margin was 69.60%. ROE was recorded as 17.70% while beta factor was 1.10. The stock, as of recent close, has shown the weekly upbeat performance of 6.18% which was maintained at 10.09% in this year.

Jack Dawkins

Finance and Tech Contributor