Shares in Intuitive Surgical (NSDQ:ISRG) rose today after the robotic surgical platform maker handily topped expectations on Wall Street with its 3rd quarter earnings results.
The Sunnyvale, Calif.-based company posted profits of $297.5 million, or $2.55 per share, on sales of $806.1 million for the 3 months ended September 30, for bottom-line growth of 34.3% while sales grew 6.6% compared with the same period during the previous fiscal year.
After adjusting to exclude 1-time items, earnings per share were $2.77, significantly above the $1.97 consensus on Wall Street where analysts were expecting to see sales of $752.3 million.
“Third quarter results were encouraging, with increases in procedures and system placements reflecting continued interest by our customers in building their robotic-assisted minimally invasive surgery programs as they focus on outcomes and economic value,” prez & CEO Dr. Gary Guthart said in a press release.
Intuitive Surgical did not update on guidance for the remaining quarter in its fiscal year.
Earlier this week, Intuitive Surgical reportedly paid $6 million to acquire a 60,000-square-foot building in Durham, N.C. just a few miles down the road from rival surgical robot maker TransEnterix (NYSE:TRXC).