Apr 17, 2023

Being surgically precise on Intuitive Surgical – MedMine

MedMine sources purchase order data from over 2,700 US medical facilities. Approximately 3,500 vendors, both public and private, sell to these medical facilities. MedMine’s database captures approximately 20% of the US medical device and hospital supplies market with the ability to track several hundred thousand individual products. 

Using the MedMine Insights Platform, powered by Exabel, investment professionals can derive unique insights from this US healthcare dataset within their investment research.

MedMine data has shown excellent correlations with more than 50 US healthcare companies within their US/Americas revenue segment. We are focusing specifically on the Instruments and Accessories segment for Intuitive Surgical (ISRG). The figure below demonstrates that the projected sales numbers have always been within ±1.5% of the reported sales for the segment, with a correlation of 0.99, and an average prediction error of 0.8%. This prediction accuracy follows quite naturally from the fact that data captures 31-35% of the total quarterly segment revenue over the last 3 years.

The gross sales capture for this quarter clearly shows a marked increase in sales each month this quarter as compared to the same month last year.

Based on these growth trends, MedMine predicts an increase in segment revenue higher than the consensus figure of 13.6%. The last 3 quarters for ISRG show price impacts around earnings (calculated as price change 5 days before and after the earnings) in the same direction as the actual reported surprise. The magnitude of projected surprise indicates a positive price impact around earnings for ISRG for Q1 2023.

To find out more about MedMine’s datasets or see the data in action, please get in touch.

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Exabel is a financial technology company based in Oslo, London, and New York.

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