Intuitive Surgical Hits All-time High After Strong Q2

Intuitive Surgical achieved record-high shares following outstanding second-quarter results driven by robust demand for its da Vinci surgical systems. The company reported adjusted earnings per share of $1.78, surpassing expectations, with revenue reaching $2.01 billion, a 14.5% increase. Global procedures with the da Vinci system rose by 17%, and system placements grew by 341 in medical facilities. Despite challenges like supply constraints, Intuitive Surgical demonstrated strong performance, with a notable increase in da Vinci 5 system placements and a positive outlook for FY24. The medical device sector, including companies like Johnson & Johnson and Abbott Laboratories, is experiencing heightened investor interest due to the resurgence in surgical procedures post-pandemic.