By Micah Maidenberg
Intuitive Surgical Inc. (ISRG) said third-quarter shipments of its main surgery device rose 19% from last year, helping the company beat Wall Street forecasts for sales and profit.
Overall, Intuitive shipped 275 da Vinci Surgical Systems in the quarter. The robotic-assisted system is used by surgeons to perform minimally invasive procedures and generally costs between $500,000 and $2.5 million, according to a securities filing.
The company reported selling $606 million worth of instruments and accessories in the quarter, up 25%.
Overall, Sunnyvale, Calif.-based Intuitive said quarterly sales rose 23% from the year earlier to $1.13 billion. Analysts polled by FactSet expected $1.06 billion in sales.
Profit increased to $397 million, or $3.33 a share, from $293 million, or $2.45 a share, the year prior.
Excluding share-based compensation and after other adjustments, the company's profit of $3.43 a share exceeded the $2.99 a share analysts predicted.
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