Why Intuitive Surgical Stock Looks Sickly Today
Shares of robotic surgery specialist Intuitive Surgical (NASDAQ: ISRG) tumbled 6.8% through 12:30 p.m. ET on Friday after missing analyst forecasts for both sales and earnings last night.
Heading into its fiscal second-quarter 2022 earnings report, Wall Street had predicted that Intuitive Surgical would earn $1.19 per share, pro forma, on $1.56 billion in quarterly sales. But the company earned only $1.14 per share on sales of just $1.52 billion.
In the second quarter, the installed base of da Vinci surgical-assist robots was up 13% since a year ago, and procedures performed using those robots (important because they require consumables) grew 14%. That's a good start. It helped Intuitive's revenue from sales of instruments and accessories grow 12%.
Source Fool.com
