Intuitive Surgical shares rose 3% Wednesday after the company reported preliminary Q4 and full-year revenue that topped analysts’ forecasts and said it expects further growth in procedures using its da Vinci Surgical System in 2017.
The company sees Q4 revenue of $757 million, a gain of about 12%. For the full-year, revenue is likely to be $2.7 billion, up from $2.4 billion. Analysts polled by Capital IQ had expected Q4 revenue of $739.7 million and full-year revenue of $2.69 billion.
In 2016, approximately 753,000 surgical procedures were performed with the da Vinci Surgical System, an increase of approximately 15% compared with approximately 652,000 procedures performed in 2015. The company expects total da Vinci procedures to grow approximately 9% to 12% in 2017.
“In 2017, we look forward to advancing several key product development innovations targeted towards further improving patient outcomes and expanding the number of patients that can derive the benefits of robotically assisted minimally invasive therapies around the world,” Gary Guthart, president and CEO. We anticipate accelerating up to $80 million of research, development, and clinical investment into 2017.”