Intuitive Surgical raises FY24 procedure growth view to 16%-17% from 15.5%-17%

Backs FY24 gross profit margin view 68.5%-69% of net revenue. Narrows FY24 operating expense growth view to 10%-12% from 10%-13%. Backs FY24 capital expenditures view $1B-$1.2B. Narrows FY24 tax rate view to 22%-23% from 22%-24%. Says increasing headwinds in Asia. Says has seen strong average selling price performance in Korea. Says encouraged by broad use of DaVinci 5. Says placements in U.S. will progressively shift towards trade ins. Says UK placements challenged by ongoing government measures impacting healthcare spending. Says leasing represented 58% of placements. Comments and guidance taken from Q3 earnings conference call.