Intuitive Surgical Inc
ISRG: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$228.00 | Zpxd | Bchfqrhk |
Intuitive Surgical Earnings: Procedures Growth in Q1 Is Remarkable
While we were expecting solid midteens growth in procedures for fiscal 2023, Intuitive Surgical's first-quarter results easily surpassed our expectations with 26% growth globally. This allowed the company to raise its procedures guidance materially, from 12%-16% to 18%-21%. We are updating our model to account for this massive surprise on the upside and expect a modest increase in our $204 fair value estimate for this wide-moat business.