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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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October 20, 2014
07:12 EDTSYKCongress of Neurological Surgeons to hold annual meeting
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07:11 EDTISRGAmerican Society for Reproductive Medicine to hold annual meeting
2014 Annual Meeting of ASRM is being held in Honolulu on October 18-22.
07:01 EDTISRGIntuitive Surgical Q3 expectations achievable, says Jefferies
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October 17, 2014
13:55 EDTISRGIntuitive Surgical volatility elevated into Q3 and outlook
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07:45 EDTSYKStryker price target lowered to $84 from $88 at Canaccord
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06:41 EDTISRGIntuitive Surgical upgraded to Outperform from Market Perform at Leerink
Leerink upgraded Intuitive Surgical to Outperform saying it has greater confidence in the company's ability to accelerate procedure growth after surveying surgeons. The firm raised its price target for shares to $560 from $450.
October 16, 2014
16:04 EDTSYKStryker sees FY14 adjusted EPS at low end of $4.75-$4.80 guidance
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16:02 EDTSYKStryker reports Q3 adjusted EPS $1.15, consensus $1.14
Reports Q3 revenue $2.39B, consensus $2.32B.
15:26 EDTSYKNotable companies reporting after market close
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October 14, 2014
12:33 EDTSYKZimmer, Stryker have postive read-through from J&J, says Wells Fargo
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11:11 EDTSYKJohnson & Johnson Ortho strength positive for Zimmer, says Piper Jaffray
Piper Jaffray said Johnson & Johnson's (JNJ) sequential Q3 strength in orthopedics, which included acceleration in both hips and knees, was surprising and a positive for Zimmer (ZMH). However, Piper expect sentiments on ortho names to remain muted until further into reporting season, noting that Stryker (SYK) is scheduled to report Thursday after the close. The firm has Neutral rating on Johnson & Johnson and Stryker and an Overweight rating on Zimmer.
October 10, 2014
07:16 EDTSYKAmerican Society of Plastic Surgeons to hold annual meeting
Annual Meeting of ASPS is being held in Chicago on October 10-14.
October 9, 2014
06:18 EDTSYKBiomet reports Q1 sales up 6% to $775M
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October 6, 2014
11:25 EDTISRGIntuitive Surgical volatility increases on rally after Goldman upgrades
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11:17 EDTISRGIntuitive Surgical climbs after Goldman ups to Buy
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10:41 EDTISRGIntuitive Surgical rises, levels to watch
At time of writing the shares were up over 3.9% to $493.83, well down from the session high at $505.74 which is resistance. At current price support is at the session low at $489.32, the opening price of the day. Goldman earlier upgraded the shares to a Buy, with a $584 price target.
10:04 EDTISRGOn The Fly: Analyst Upgrade Summary
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05:22 EDTISRGIntuitive Surgical upgraded to Buy from Neutral at Goldman
Goldman Sachs upgraded Intuitive Surgical (ISRG) to Buy citing an improving hospital spending environment and long-term uptake of surgery procedures in the U.S. The firm raised its price target for shares to $584 from $466. Shares of the robotic surgery maker closed Friday at $475.21.

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