Will Intuitive Surgical Q3 earnings bring positive surprise amid COVID woes, pressure on stock?
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Intuitive Surgical (NASDAQ:ISRG) is scheduled to announce Q3 earnings results on Tuesday, October 18th, after market close.
The consensus EPS Estimate is $1.12 (-5.9% Y/Y) and the consensus Revenue Estimate is $1.52B (+8.6% Y/Y).
Over the last 2 years, ISRG has beaten EPS estimates 88% of the time and has beaten revenue estimates 88% of the time.
Over the last 3 months, EPS estimates have seen 0 upward revisions and 16 downward. Revenue estimates have seen 2 upward revisions and 13 downward.
The medical device maker's stock fell -5.74% on July 22, the day after reporting its Q2 results (July 21 post-market). The company's Non-GAAP EPS and revenue, both missed analysts' estimates, ending a run of 12 straight quarterly beats.
In Q2, procedures with the da Vinci surgical systems grew ~14% Y/Y, amid COVID impact. The company placed only 279 da Vinci Surgical Systems, down -15%, compared to 328 in Q2 2021.
Intuitive said in its Q2 earnings release that that COVID-19 is likely to continue to have an adverse impact on its procedure volumes.

YTD, ISRG stock has taken a deep hit, having declined ~47%, almost double than the broad market indicator SP500 (~24%), see chart here. The SA Quant Rating on the shares is Hold, which takes into account factors such as Momentum, Profitability, and Valuation among others. ISRG has an A+ factor grade for Profitability but D- for Growth. The average Wall Street Analysts' Rating differs with a Buy rating, wherein 9 out of 23 analysts see the stock as Strong Buy.
A day ago, SA contributor InvestOhTrader wrote that Intuitive's slowing top line growth performance and pressured margin makes the stock unattractive (as of the publication date).
During Q3, Japan approved the company's da Vinci single-port surgical system for use in surgeries. The country had first cleared Intuitive's multi-port system in 2009.
Intuitive also signed an agreement to get supply of Luna Innovations' photonic subsystems for use in its robotic surgical systems.
Recent earnings Analysis from our contributors:Intuitive Surgical: Shares Still Pricey, But Technical Support In Play Ahead Of Earnings