Intuitive Surgical (NSDQ:ISRG) shares hit a small skid this morning on second-quarter results that topped the consensus forecast.
The Sunnyvale, Calif.–based robotic surgery company posted profits of $517.2 million, or $4.25 per share, on sales of $1.5 billion for the three months ended June 30, 2021, multiplying its bottom line by nearly seven times on sales growth of 71.8%.
Adjusted to exclude one-time items, earnings per share were $3.92, 86¢ ahead of Wall Street, where analysts were looking for sales of $1.3 billion.
“We are pleased with our second quarter procedure growth and financial results, which reflect both the demand for high-quality minimally invasive procedures as well as a return to surgeries deferred during the pandemic,” Intuitive CEO Gary Guthart said in a news release.
Intuitive did not offer guidance for the full year.
ISRG shares were down nearly –2% at $936.16 per share by afternoon trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down slightly.