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SUNNYVALE, Calif., Oct. 18, 2024 Following the reveal of its robust Q3 results that comfortably beat analyst expectations, Intuitive Surgical (ISRG, Financials)saw its stock jump 6% Friday. The company's glowing Q3 results were spearheaded by installations of 379 Da Vinci surgical system during the quarter, compared to 312 systems over the same period, machines in the same period last year.
Moreover, its important to note that the company's quarterly EPS climbed to $1.56 from $1.16, with net income jumping by 28% YOY. Over the first nine months of 2024, Intuitive Surgical saw that the coronavirus had had no appreciable effect on operation volumes.
Reflecting good financial health and development potential, the company closed out the quarter with $8.3 billion in cash, up from $7.3 billion at the closing of 2023. The outstanding quarterly performance and higher system installations underscore the company's role in the robotic-assisted operations industry, adding to its long-term bull case. Consequently, we've seen ISRG stock become a tremendous wealth compounder, with the stock rising 194% in the past five years. YTD, the stock has surged a whopping 54%, comfortably beating the S&P 500's 23% gain over the same period.
This article first appeared on GuruFocus.