Robot surgeon manufacturer Intuitive Surgical splits stock.
Robotic surgical systems and consumables manufacturer Intuitive Surgical Inc. (ISRG) plans to split its shares by three and trade new securities on October 5. As a result, more affordable shares may be the entry point for investors who did not purchase ISRG shares because of the price. Intuitive Surgical is one of the market leaders in robotic surgery.
To date, the company has delivered more than 6,300 of its da Vinci systems, which have performed more than 8.5 million procedures since 1995. In July, the company announced that it delivered 328 da Vinci surgical systems in the second quarter, up 84% year-on-year. However, it is worth noting that the past year has not been typical, as many optional surgeries have been on hold due to overwhelming healthcare systems.
Expanding the number of robotic systems installed and procedures performed is an essential source of income for Intuitive Surgical, which sells consumables. These recurring regular incomes accounted for almost 75% of revenue in the most recent reporting quarter. In addition, the network effect and status of a pioneer in the robotic surgery industry help Intuitive Surgical maintain strong sales, as there are already many specialists in the markets of its presence, accustomed to da Vinci.
Intuitive Surgical recently announced its intention to split its shares by a 1: 3 ratio and renewed trading to begin on October 5. Lower prices can boost the activity of investors who have long wanted to become shareholders of Intuitive Surgical. At the auction on September 27, the ISRG share cost $ 1,013.75.
