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Key takeaways from the call:
Intuitive Surgical (NASDAQ: ISRG) also provided updates on its financial estimates and plans. The company refined its estimate for the 2023 pro forma tax rate to be between 22% and 23% of pretax income. It also narrowed its estimate for capital expenditures to range between $900 million and $1 billion, primarily for facility construction. According to InvestingPro data, the company’s market cap stands at 96.08B USD, and it operates with a P/E ratio of 67.51.
During the earnings call, the company discussed the potential effects of GLP-1 drugs on bariatric surgery and addressed questions regarding gross margin, utilization rates of leased systems, international market penetration for general surgery, and the progress of their AI platform, Case Insights. The company also hinted at a potential 5% price increase in 2024 if inflation remains high. InvestingPro Tips indicates that the stock generally trades with low price volatility and that the company has been aggressively buying back shares, which could impact future price movements.
In terms of expansion, Intuitive Surgical aims to increase its reach from 6 million to 20 million procedures globally through clearances in new markets, new indications, reimbursement improvements, and the development of new products and technologies. Despite high demand in China, the company expects delays due to policy and timing issues.
The earnings call concluded with the company’s vision for a future of less invasive and superior care, focusing on better patient outcomes, experiences, and cost of care. The company believes there is a significant opportunity to improve surgery and acute interventions. According to InvestingPro Tips, the company is expected to be profitable this year, and it has been profitable over the last twelve months, indicating a strong financial outlook. For more insights like these, check out InvestingPro, which offers an additional 14 tips for ISRG.
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