Strong Procedural Volume Growth Helps Intuitive Surgical Beat Consensus Estimates In Q2’16

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ISRG: Intuitive Surgical logo
ISRG
Intuitive Surgical

Intuitive Surgical (NYSE:ISRG) posted strong Q2 2016 results as the number of da Vinci units sold grew 10% year over year to 138 and the procedural volume grew by 16% from a year ago period.  There was healthy growth in the instrument and accessory revenue as well. It is worth noting that recurring revenue, which comprises of instruments and accessory revenue and services revenue, contributed to more than 70% of the company’s revenues. Driven by a 15% increase in the number of procedures word wide, Intuitive was successful in continuing the growth momentum after an exceptionally strong Q1. Though da Vinci systems are in the early stage of adoption outside the U.S, Intuitive saw strong revenue growth of 25% year over year from the international procedures. Below we analyse the key financial metrics as reported by the company for Q2:

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