Intuitive (Nasdaq: ISRG) shares slid in pre-market trading today despite fourth-quarter results that topped the consensus forecast.
The Sunnyvale, California-based robotic surgery technology developer posted profits of $380.6 million, or $1.04 per share, on sales of $1.6 billion for the three months ended Dec. 31, 2021, narrowly increasing its bottom line by about $100,000 on sales growth of 10.5% year-over-year.
Adjusted to exclude one-time items, earnings per share were $1.30, 2¢ ahead of Wall Street, while sales beat analysts’ projections by approximately 0.8%.
Worldwide procedures performed with Intuitive’s da Vinci surgical robot increased approximately 19% compared to the fourth quarter of 2020, as last year was adversely affected by the COVID-19 pandemic. Intuitive said in a news release that the resurgence of COVID-19 late in the fourth quarter of 2021 also impacted procedures, though.
Intuitive did not provide financial guidance for 2022. ISRG shares were down 5.4% at $276.90 per share in pre-market trading today.