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Stock Market & Financial Investment News

News Breaks
July 23, 2014
13:36 EDTNVDQ, ISRG, 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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July 22, 2015
09:05 EDTISRGIntuitive Surgical price target raised to $600 from $590 at Leerink
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07:13 EDTISRGIntuitive Surgical upgraded to Buy at Canaccord
As reported previously, Canaccord upgraded Intuitive Surgical to Buy from Hold citing accelerated growth and improving gross margins. Canaccord raised its price target to $615 from $517 on Intuitive Surgical shares.
07:01 EDTISRGIntuitive Surgical price target raised to $675 from $616 at Jefferies
Jefferies raised its price target for Intuitive Surgical to $675 calling the company's Q2 results strong "across the board." Intuitive's upped guidance shows the positive trends are sustainability, the firm tells investors in a research note. It keeps a Buy rating on the name.
06:53 EDTISRGIntuitive Surgical upgraded to Buy from Hold at Canaccord
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06:00 EDTISRGIntuitive Surgical price target raised to $625 from $575 at Barclays
Barclays analyst Matthew Taylor raised his price target for Intuitive Surgical to $625 saying the company's Q2 results should ease investor concerns around procedure growth and margins. The analyst calls the quarter "excellent" in a research note titled "Hitting All Cylinders." Taylor keeps an Overweight rating on the stock.
July 21, 2015
19:00 EDTISRGOn The Fly: After Hours Movers
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16:59 EDTISRGIntuitive Surgical advances further to up over 12% in after-hours trading
16:58 EDTISRGIntuitive Surgical sees 2H15 gross profit margin 67%-68%
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16:57 EDTISRGIntuitive Surgical raises 2015 procedural growth view to 11%-13% from 8%-11%
Comments from company's Q2 earnings conference call.
16:43 EDTISRGIntuitive Surgical advances almost 9% after reporting Q2 results
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16:08 EDTISRGIntuitive Surgical Q2 worldwide da Vinci procedures grew 14%
Worldwide da Vinci procedures grew approximately 14% over the second quarter of 2014, up 8% sequentially over the first quarter of 2015, driven primarily by growth in U.S. general surgery procedures and broad-based procedure growth in Asia and other international markets. The Company shipped 118 da Vinci Surgical Systems, compared to 96 in the second quarter of 2014 and 99 in the first quarter of 2015.
16:07 EDTISRGIntuitive Surgical reports Q2 EPS $4.57, consensus $3.98
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15:02 EDTISRGNotable companies reporting after market close
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14:16 EDTISRGIntuitive Surgical July weekly 502.50 straddle priced for 6.4% movement into Q2
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12:33 EDTISRGEarnings Watch: Intuitive Surgical down about 9% since last earnings
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12:16 EDTISRGIntuitive Surgical technical comments before results
The stock has been trading in a sideways range from $480 at the low and $512 at the high since April of this year. Those two bounds may help us understand where price may go following earnings. If the news is bearish, a breakdown below $480 would resolve the range bearishly. Next supports to watch as potential downside objectives would be at $475, $470.79, and $467.45. If the news is a bullish surprise, the upper bound of the range at $512 would likely be tested. A breakout above $512 would resolve the range bullishly. Next resistance levels to watch as potential upside objectives would be at $525.57, $538.83, and $542.41.
08:30 EDTISRGIntuitive Surgical July weekly volatility elevated into Q2 and outlook
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July 20, 2015
08:04 EDTSYKStryker announces definitive agreement tyo acquire Muka Metal
Stryker announced a definitive agreement to acquire Muka Metal, A.S. in an all cash transaction. Muka, headquartered in Kayseri, Turkey, sells hospital beds, stretchers and related patient room furniture and accessories that serve markets across Turkey and other regions globally. Upon closing, the transaction is expected to be neutral to Stryker's FY15 EPS excluding acquisition, integration-related and intangible amortization charges and accretive thereafter. The transaction is expected to close in Q3.
July 17, 2015
06:59 EDTISRGIntuitive Surgical Q2 expectations look reasonable, says Leerink
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July 16, 2015
06:52 EDTISRGIntuitive Surgical July weekly volatility elevated into Q2 and outlook
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