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News Breaks
January 24, 2014
11:57 EDTBVX, SYK, HART, ISRGIntuitive Surgical falls after guidance disappoints
Shares of Intuitive Surgical (ISRG), which makes and markets the da Vinci Surgical System, are falling after the company announced it would sell fewer systems in 2014 compared to the prior year. It also declined to provide revenue guidance for 2014. WHAT'S NEW: Last night, Intuitive Surgical reported Q4 EPS of $4.28 and revenue of $576.2M, both of which exceeded expectations of $3.83 and $558.46M, respectively. WHATíS NOTABLE: On the companyís Q4 earnings conference call, management said the company would likely sell fewer da Vinci systems in 2014 compared to 2013. It forecast 2014 procedures increasing 9%-12%, compared to a 16% increase in procedures for 2013. The company declined to provide revenue guidance for 2014, citing a lack of visibility. ANALYST REACTION: This morning, research firm Jefferies said the companyís outlook was conservative. Jefferies said that while Intuitive Surgical's lack of revenue and earnings guidance was indicative of near-term headwinds and uncertainties, its procedure guidance met expectations and was likely conservative. The firm said Intuitive's long-term growth prospects remained compelling, and it kept a Buy rating on the stock with a $480 price target. PRICE ACTION: In late morning trading, Intuitive Surgical fell $23.81, or about 5.4%, to $415.19 on heavy trading volume. The shares are down approximately 28% over the past twelve months. OTHERS TO WATCH: Intuitive Surgicalís competitors include Stryker (SYK), Bovie Medical (BVX), and Harvard Apparatus (HART).
News For ISRG;SYK;BVX;HART From The Last 14 Days
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January 27, 2015
16:18 EDTSYKStryker sees FY15 adjusted EPS $4.90-$5.10, consensus $5.14
Sees FY15 constant currency sales growth in the range of 5.5%-7.0%, including organic sales growth in the range of 4.5%-6.0%. Consensus $10.11B.
16:06 EDTSYKStryker reports Q4 adjusted EPS $1.44, consensus $1.45
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15:35 EDTSYKNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Apple (AAPL), consensus $2.60; AT&T (T), consensus 55c; Amgen (AMGN), consensus $2.05; Yahoo (YHOO), consensus 29c; ACE (ACE), consensus $2.29; Stryker (SYK), consensus $1.45; Western Digital (WDC), consensus $2.10; Electronic Arts (EA), consensus 92c; Juniper (JNPR), consensus 31c; Total System Services (TSS), consensus 53c; Freescale Semiconductor (FSL), consensus 33c; Amdocs (DOX), consensus 81c; VMware (VMW), consensus $1.07; International Game Technology (IGT), consensus 25c; United States Steel (X), consensus 87c; Cytec (CYT), consensus 61c.
January 26, 2015
07:17 EDTISRGSociety of Thoracic Surgeons to hold annual meeting
51st Annual Meeting of STS is being held in San Diego, California on January 24-28.
January 23, 2015
09:05 EDTISRGIntuitive Surgical 2015 EPS likely to beat guidance, says SunTrust
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08:00 EDTISRGIntuitive Surgical shares likely to see pressure, says Leerink
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January 22, 2015
17:05 EDTISRGIntuitive Surgical reverses to decline 3.7% after procedure guidance
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16:59 EDTISRGIntuitive Surgical anticipates currency headwinds in 2015
16:58 EDTISRGIntuitive Surgical sees FY15 gross profit margin similar to Q4
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16:57 EDTISRGIntuitive Surgical sees 2015 procedural growth 7%-10%
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16:54 EDTISRGIntuitive Surgical encouraged by clinical developments in Europe
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16:51 EDTISRGIntuitive Surgical says Q4 U.S procedures grew 8%, international grew 21%
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16:39 EDTISRGIntuitive Surgical received regulatory clearance for da Vinci Xi system in Korea
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16:07 EDTISRGIntuitive Surgical Q4 worldwide da Vinci procedures grew nearly 10% YoY
The company placed 137 da Vinci Surgical Systems, compared to 138 in the fourth quarter of 2013 and 111 in the third quarter of 2014.
16:06 EDTISRGIntuitive Surgical reports Q4 EPS $4.92, consensus $4.38
Reports Q4 non-GAAP revenue $601M, consensus $589.37M.
15:32 EDTISRGNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Starbucks (SBUX), consensus 80c; Capital One (COF), consensus $1.74; Intuitive Surgical (ISRG), consensus $4.38; KLA-Tencor (KLAC), consensus 52c; Altera (ALTR), consensus 35c; E-Trade (ETFC), consensus 23c... ResMed (RMD), consensus 62c; Maxim Integrated Products (MXIM), consensus 30c; Maxim Integrated Products (MSCC), consensus 65c; Hexcel (HXL), consensus 54c; Polycom (PLCM), consensus 23c; Skyworks (SWKS), consensus $1.19; Curtiss-Wright (CW), consensus $1.00.
15:05 EDTISRGIntuitive Surgical January weekly 525 straddle priced for 5.4% movement into Q4
12:52 EDTISRGEarnings Preview: Intuitive Surgical sees Q4 da Vinci sales up 5% on GAAP basis
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12:10 EDTISRGIntuitive Surgical technical comments before results
The shares have been in a consolidation phase for the last month ahead of results. The low of the recent range is at $513 and the high of the range is at $538. Breaks of either end of this range will likely determine the future price path of the shares. A breakout above $538 on positive news would likely also tick the 52-week high at $541.23. Resistance levels to watch thereafter would be at $550, $567, and $574. A breakdown below the low of the range on a negative surprise would be bearish for future price. Below $513 next supports would be at $496.66, $486.61, and $467.26. The stock does have a history of extreme price reactions around earnings exacerbated by the small trading float. As of the last available report, the short-base in the name was neutral and relatively low compared to prior history.
January 21, 2015
08:40 EDTISRGIntuitive Surgical January weekly volatility elevated into Q4 and outlook
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