ISRG Stock – Intuitive Surgical Shares Sink After Disappointing Earnings Call

It expects slower growth for da Vinci system procedures

   

Intuitive Surgical 300x125 ISRG Stock   Intuitive Surgical Shares Sink After Disappointing Earnings CallOn Thursday, Intuitive Surgical (ISRG) announced higher-than-expected quarterly profits, but did not release a revenue forecast for 2014. The news sent ISRG stock down 5% in Friday morning trading.

The company reported fourth-quarter earnings of $166 million, down from a year-ago quarterly profit of $175 million. EPS came in at $4.28. That topped the earnings of $3.83 per share of ISRG stock that Wall Street was looking for, Reuters noted.

BankSafe630 200x151 ISRG Stock   Intuitive Surgical Shares Sink After Disappointing Earnings Call
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ISRG indicated that revenue guidance will be released when it has a better data on sales of its da Vinci surgical robot systems.

During a conference call, ISRG officials said that sales of lower-priced da Vinci systems were expected to grow during 2014, but sales of its higher-priced systems would be lower than in 2013. ISRG said that it anticipates procedures using the da Vinci system to grow by between 9% and 12% this year. Last year, such procedures increased by 16%.

ISRG stock has fallen more than 24% over the past year. ISRG stock fell sharply in July after the company received a warning letter from the FDA about conditions at one of its factories. ISRG stock closed at $439 a share on Thursday.


Article printed from InvestorPlace Media, http://investorplace.com/2014/01/isrg-stock-intuitive-surgical-shares-sink-disappointing-earnings-call/.

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