Shares of Intuitive (NASDAQ: ISRG) were up in pre-market trading on Wednesday after the developer and manufacturer of robotic products for minimally invasive surgery announced adjusted earnings of $1.23 per diluted share in Q1 versus $1.13 per diluted share. Analysts were expecting earnings of $1.2 per diluted share.
Revenues soared by 14% year-over-year to $1.7 billion in Q1 beating consensus estimates of $1.6 billion. This rise in revenues was largely driven by higher volumes of da Vinci procedures in the first quarter. The installed base of da Vinci Surgical System grew by 12% year-over-year to 7,779 systems.
Analysts are cautiously optimistic about ISRG stock with a Moderate Buy consensus rating based on 11 Buys and five Holds.