Shares in Intuitive Surgical (NSDQ:ISRG) rose today in after-hours trading after the robotic surgical platform maker posted 1st quarter earnings that beat expectations on the Street.
The Sunnyvale, Calif.-based company posted profits of $179.9 million, or $4.67 per share, on sales of $674 million for the 3 months ended March 31, equating to bottom-line growth of 31.8% while sales grew 13.4% compared with the same period in 2016.
After adjusting to exclude 1-time items, earnings per share were $5.09, a solid 14¢ above the consensus on Wall Street, where analysts were expecting to see sales of $666.5 million.
“We are pleased with broad-based da Vinci procedure growth during the first quarter and are encouraged by trends in key global markets and our U.S. general surgery business. Consistent with our mission, we strive to make surgery more effective, less invasive and easier on surgeons, patients and their families by actively engaging hospitals and surgical teams,” CEO Dr. Gary Guthart said in a prepared statement.
The company did not release any guidance for the coming quarters or fiscal year. Shares have risen 3.8% as of 5:43 p.m. EST in after hours trading, at $788.
In early April, Intuitive saw shares lift on rumors that the company may be looking at a takeover from a larger player in medtech.
Shares ticked up nearly 1%, up $7.11 at $769.45 on April 5 due to the rumors, according to Seeking Alpha.
The company has seen its shares trend upwards steadily since the 4th quarter of 2015, with the exception of a correction in its last 4th quarter. Share value has risen over 70%, according to Seeking Alpha.
