Stock Monitor: Abbott Laboratories Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 01, 2018 / Active-Investors.com has just released a free earnings report on Intuitive Surgical, Inc. (NASDAQ: ISRG). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ISRG. Intuitive Surgical reported its first quarter fiscal 2018 operating and financial results on April 17, 2018. The US robotic surgical systems maker outperformed top- and bottom-line expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is currently working on the research report for Abbott Laboratories (NYSE: ABT), which also belongs to the Healthcare sector as the Company Intuitive Surgical. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=ABT

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Intuitive Surgical most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=ISRG

Earnings Highlights and Summary

For the first quarter 2018, Intuitive Surgical's revenue surged 25% to $848 million compared to revenue of $680 million in Q1 2017. The Company's results reflected the deferral of $23 million of revenue associated with a customer trade-out program in the reported quarter. Intuitive Surgical's reported numbers were easily higher than analysts' estimates of $777 million for the reported quarter.

During Q1 2018, Intuitive Surgical's pro-forma gross profit margin was 71.6% compared to 72% in Q1 2017. The Company's GAAP income from operations increased to $277 million compared to $193 million in Q1 2017. The Company's non-GAAP income from operations increased to $346 million in the reported quarter compared to $266 million in the prior year's same quarter.

Intuitive Surgical reported GAAP net income of $288 million, or $2.44 per diluted share, in Q1 2018 compared with $181 million, or $1.57 per diluted share, for Q1 2017. The Company's non-GAAP net income was $288 million, or $2.44 per diluted share, in the reported quarter compared to $197 million, or $1.71 per diluted share, for the year earlier corresponding quarter. Intuitive Surgical's earnings were well ahead of Wall Street's estimates of $2.07 per share.

Operating Results

Intuitive Surgical's total recurring revenue in Q1 2018 was $623 million, representing 73% of total revenue

During Q1 2018, Intuitive Surgical's instrument and accessory revenue increased by approximately 21% to $460 million compared to $381 million for Q1 2017, primarily driven by approximately 15% growth in da Vinci procedure volume.

For Q1 2018, Intuitive Surgical's systems revenue soared 46% to $235 million compared to $161 million for Q1 2017. The Company's reported quarter systems revenue also reflected the impact of the trade-out program revenue deferral noted above. In Q1 2018, Intuitive Surgical's service revenue increased by approximately 11% to $153 million compared to $138 million for Q1 2017.

During Q1 2018, Intuitive Surgical shipped 185 da Vinci Surgical Systems compared to 133 in Q1 2017. The Company's reported quarter system shipments included 43 systems shipped under operating lease arrangements compared to 21 during the year earlier quarter. Globally, the Company's average selling price, which excluded the impact of operating leases, lease buyouts, and revenue deferrals, was approximately $1.49 million, which was slightly higher than the $1.47 million in the previous quarter.

Cash Matters

As of March 31, 2018, Intuitive Surgical had $4.1 billion in cash, cash equivalents, and investments, an increase of $222 million compared to cash of $3.8 billion as on December 31, 2017, driven by cash generated from operations of $280 million. The Company did not repurchase any shares in the reported quarter and had approximately $718 million remaining under the Board's buyback authorization.

Stock Performance Snapshot

April 30, 2018 - At Monday's closing bell, Intuitive Surgical's stock fell 1.40%, ending the trading session at $440.78.

Volume traded for the day: 664.56 thousand shares.

Stock performance in the last month ? up 6.77%; previous three-month period ? up 1.02%; past twelve-month period ? up 58.20%; and year-to-date ? up 20.78%

After yesterday's close, Intuitive Surgical's market cap was at $49.72 billion.

Price to Earnings (P/E) ratio was at 46.51.

The stock is part of the Healthcare sector, categorized under the Medical Appliances & Equipment industry.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com

Phone number: 73 29 92 6381

Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors