Intuitive Surgical: The Year 2016 Review

Intuitive Surgical’s stock price has soared by more than 20% over the past year on account of solid financial results in the first three quarters of 2016. During this period, the company’s revenues and products gross margins increased by 14% and 4%, respectively. Intuitive’s Systems revenue increased by 13% on account of higher system shipments, higher operating lease activities and higher revenue from Integrated Table Motion products. In addition, the company witnessed procedure growth of approximately 16%, which led to a 16% increase in instrument and accessory revenue. The procedure growth in the U.S. was primarily driven by growth in general surgery procedures, gynecologic procedures, and urologic procedures. Intuitive claims that margin improvements were driven by manufacturing efficiencies, product cost reductions on some of our newer products, and favorable product mix, which includes higher sales of da Vinci Xi Integrated Table Motion product. The table below summarizes the company’s performance in 2016:

Source: Sec-filings

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