Shares of Intuitive Surgical Inc. ISRG, -3.08% eased 0.2% in premarket trading Wednesday, after the minimally invasive care company provided an upbeat fourth-quarter revenue outlook, amid strength in its instruments and accessories business and as the COVID-19 resurgence impacted results. The company said it expects fourth-quarter revenue of “approximately” $1.55 billion, up 17% from a year ago and above the FactSet consensus of $1.51 billion. Instruments and accessories revenue is expected to increase 13% to $843 million, which is above the FactSet consensus of $755.1 million. The company said fourth-quarter procedures with its da Vinci surgical system increased about 19% from a year ago, while the resurgence of COVID-19 later in the quarter impacted procedures. The company said COVID-19 will likely continue to hurt procedure volumes. The stock has gained 1.1% over the past three months through Tuesday, while the S&P 500 SPX, -1.42% has gained 8.3%.
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