Intuitive Surgical, Inc. (ISRG) declined in the current market after the company announced its results for the fourth quarter of 2021. ISRG values at around $270.60 in the current market, losing more than 7.56% from the previously closed value. At the end of the last trading session, the stock closed around $292.73. The stock volume traded in the previous trading session was approximately 1.68 million shares.
Reason for ISRG stock decline
The revenue of the fourth quarter was $1.55 billion. It is an increase of 17% from the Q4 of 2020. In the fourth quarter of last year, the revenue was around $1.33 billion. The revenue increased due to the Vinci procedure volume and system placement sales. The sales from World da Vinci increased by 19% compared to the Q4 of fiscal 2021.
The compound yearly growth rate was around 10% between Q4 2019 and Q4 2021.
The GAAP net income was around $381 million in the fourth quarter of 2021. Last year in the fourth quarter, the GAAP net income was about $365 million
The non-GAAP net income was around $477 million in the fourth quarter of 2021. Last year in the fourth quarter, the non-GAAP net income was about $434 million
The company had cash and cash equivalents of approximately $8.6 billion as of quarter four. The company witnessed a $400 million increase in the fourth quarter due to the income from operations.
The effect on the stock decline
The fourth-quarter results were awe-inspiring when facing colossal supply chain problems. Investors are taking considerable interest in Intuitive Surgical, Inc. (ISRG) stock. The trading volume increased bad its stock is facing a slight decline in the regular trading session.
Conclusion
Intuitive Surgical, Inc. (ISRG) has reported a successful quarter and expects to grow simultaneously. The fourth quarter saw a massive supply chain disruption due to which it did not achieve the desired target, but the company is still in profit in the fourth quarter.
