New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 23, 2014
13:36 EDTISRG, SYK, NVDQIntuitive Surgical rises after Q2 EPS, revenue beat expectations
Shares of surgical instrument and accessory maker Intuitive Surgical (ISRG) are climbing after the company reported second quarter earnings per share and revenue that surpassed analysts' expectations. WHAT'S NEW: Intuitive Surgical's Q2 adjusted EPS was $3.73, while its GAAP EPS $2.77. Analysts' EPS consensus for the quarter was $2.83. The company's Q2 revenue was $512.2M, which was higher than analysts' consensus of $501.7M. Intuitive Surgical said it ended the quarter with $2B in cash, cash equivalents, and investments, which is a decrease of $920M during the quarter, primarily reflecting the impact of $1B utilized during the quarter to repurchase shares of its common stock. It reported that its Q2 worldwide procedures grew 9% over 2Q13 and said it shipped 96 systems during Q2, compared with 87 systems that were shipped last quarter. WHAT'S NOTABLE: During the company's conference call, Intuitive Surgical narrowed its FY14 procedure growth view to 5%-8% from 2%-8%. The company said said that it expects capital pressures in most hospitals to continue and projects international procedure growth to be "lumpy" quarter-over-quarter. ANALYST REACTION: Raymond James analyst Lawrence Keusch upgraded Intuitive Surgical to Outperform from Market Perform this morning following the company's better than anticipated Q2 earnings results. The analyst, who has a $500 price target on the stock, said that the company's results inferred a stabilization in the business in both its system placements and procedures. For this reason, the firm is taking a more positive view of Intuitive Surgical. Keusche said he now sees 10% top-line growth and 18% EPs growth in 2015-2016. Stifel analyst Rick Wise upgraded Intuitive Surgical to Buy from Hold with a $600 price target with the belief that the company's longer-term growth reacceleration drivers are slowly falling into place. Wise feels that procedure volumes for the company look to be recovering, new products launches are going well and future product reveals are set to occur. The firm feels that the risk of 2H14 downward estimate revisions are definitely lower than in prior quarters. Meanwhile, Leerink analyst Richard Newitter remains cautious on Intuitive Surgical's results. He feels that the quarter was encouraging for Intuitive Surgical, but that it is difficult to be confident that a sequential increase in procedure growth could mark a definitive point of emphasis. The firm increased its price target to $450 from $415 based on its higher estimate revisions to its adjusted GAAP EPS view. PRICE ACTION: During afternoon trading, shares of Intuitive Surgical rose $57.76 or 14.73%, to $449.92. OTHERS TO WATCH: Novadaq (NVDQ), which sells consoles for Intuitive Surgical's robotic systems, fell 2c to $16.68. Shares of Stryker (SYK), which previously acquired robotic surgery systems maker MAKO Surgical, were up slightly by 10c to $81.99.
News For ISRG;NVDQ;SYK From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 8, 2015
10:00 EDTNVDQOn The Fly: Analyst Initiation Summary
Subscribe for More Information
October 7, 2015
18:27 EDTNVDQNovadaq initiated with an Outperform at Wedbush
Subscribe for More Information
11:32 EDTSYKLeerink medical supplies/devices analyst holds analyst/industry conference call
Subscribe for More Information
October 2, 2015
07:51 EDTNVDQNovadaq shares at attractive levels again, says Canaccord
Subscribe for More Information
October 1, 2015
07:18 EDTNVDQNovadaq, Arthrex announce co-marketing agreement for PINPOINT
Novadaq Technologies announced that it has entered into a Co-Marketing Agreement with Arthrex. The Agreement allows the two companies to combine their expertise and devices to offer a world-class endoscopic system for a wide variety of surgical specialties, including orthopaedic, general, colorectal and gynecological surgeries. NOVADAQ's "plug and play" PINPOINT upgrade kit facilitates the seamless integration of its SPY imaging technology into Arthrex's Synergy System, combining the most clinically relevant fluorescence imaging experience with the leading 4K white light endoscopic system. Both companies will continue to sell their own standalone systems in addition to the combined systems, giving end-users unparalleled choice in providing the best care for their patients. Arthrex will have the ability to include the PINPOINT upgrade kit in all new Synergy System purchases, as well as upgrade their existing installed base. NOVADAQ's sales team will continue to sell PINPOINT as a part of its fluorescence imaging ecosystem and NOVADAQ will also supply the disposable kits required to perform SPY imaging procedures directly to those Arthrex customers that have purchased PINPOINT upgrade kits.
September 29, 2015
05:59 EDTNVDQNovadaq pullback brings buying opportunity, says Piper Jaffray
After attending the company's iSPIES meeting in Las Vegas, Piper Jaffray analyst Matt O'Brien says Novadaq's business momentum "remains strong." He continues to believe that competitive concerns are overblown and thinks the company should meet or beat Q3 estimates. The analyst views the recent pullback in shares as a buying opportunity and reiterates an Overweight rating on Novadaq with a $16.50 price target.

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use