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Stock Market & Financial Investment News

News Breaks
July 23, 2014
13:36 EDTISRG, NVDQ, SYKIntuitive 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
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September 22, 2014
07:50 EDTISRGDoctors continue to use morcellators despite FDA warning, J&J halt, WSJ says
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07:47 EDTISRGIntuitive Surgical shipment halt unlikely to have major impact, says Wedbush
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07:45 EDTISRGIntuitive Surgical stapler halt may stop momentum, says Canaccord
Canaccord said Intuitive Surgical's "stop use" notice sent to hospitals regarding its EndoWrist Stapler 45 is a negative and could halt momentum in shares. The firm remains cautious and maintains its Hold rating on Intuitive Surgical given slowing GYN growth, constrained hospital budgets, and the recent change in financial reporting.
September 18, 2014
08:37 EDTISRGIntuitive reports FDA clearance of da Vinci in benign, base of tongue procedures
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September 17, 2014
15:19 EDTSYKStryker says targeting 60% of premium market in China by end of 2015
Says targeting 80% of premium market in China by 2020.
14:49 EDTSYKStryker says targeting dividend hike in line or above EPS growth
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14:39 EDTSYKStryker backs Q3 adjusted EPS $1.12-$1.16, consensus $1.14
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14:36 EDTSYKStryker says globalization remains a 'top priority'
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September 15, 2014
10:27 EDTSYKStryker to host analyst meeting with a conference call hook-up available
Analyst meeting to be held in Mahwah, NJ on September 17 at 2:30 pm. Webcast Link
September 12, 2014
08:59 EDTISRGIntuitive Surgical has large new opportunity, says Stifel
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