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Stock Market & Financial Investment News

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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November 26, 2014
07:52 EDTISRGIntuitive Surgical could be hurt by FDA statement, says RBC Capital
After the FDA acknowledged that hysteroscopic morcellators do not pose the same degree of risk as laparoscopic powered morcellators, RBC Capital estimates that 6%-8% of Intuitive Surgical's total procedures would be exposed to a potential decline in laparoscopic powered morcellators in a worst-case scenario. However, the firm says the actual risk would be much lower for the company, as alternative robotic techniques can be used in some cases.
07:33 EDTHARTHarvard Apparatus says no longer supporting studies in Russia
Harvard Apparatus Regenerative Technology announced that it will no longer be providing its HART-Trachea product for future transplant procedures performed at Krasnodar, Russia as part of the ongoing airway transplant studies there. HART will continue to focus primarily on completing preclinical work necessary to initiate clinical trials for its HART-Trachea product in the EU and U.S. It has made recent progress in the U.S. and EU, including the granting of orphan designation by the FDA and a productive meeting with the Medicines and Healthcare Products Regulatory Agency of the U.K. HART anticipates that during 2015 it will file its Investigational New Drug application to initiate a U.S. clinical trial and a Clinical Trial Authorization application to initiate an EU clinical trial.
07:21 EDTSYKSmith & Nephew could attract GBP14 per share takeover bid, says Bernstein
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November 24, 2014
11:25 EDTSYKStryker, Smith & Nephew rise after reports of renewed bid
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09:26 EDTISRGFDA updates warning on laparoscopic power morcellators to treat uterine fibroids
The FDA announced it is taking immediate steps to help reduce the risk of spreading unsuspected cancer in women being treated for uterine fibroids. In an updated safety communication, originally issued in April, the FDA warns against using laparoscopic power morcellators in the removal of the uterus or fibroids in the vast majority of women. In an Immediately in Effect guidance, the FDA is also recommending that manufacturers of laparoscopic power morcellators include in their product labeling specific safety statements in the form of a boxed warning and two contraindications. Johnson & Johnson (JNJ), the largest manufacturer of morcellators, stopped selling the gynecological surgical tool in April and in August told customers to return any devices in their inventory. Intuitive Surgical's (ISRG) da Vinci surgical system can be used with tissue morcellators in such surgical procedures.
09:05 EDTSYKStryker weighing renewed Smith & Nephew bid, Bloomberg reports
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08:46 EDTSYKStryker weighing renewed Smith & Nephew bid, Bloomberg reports
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07:46 EDTSYKPfizer seen set to move on from AstraZeneca as restrictions lift, Telegraph says
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November 21, 2014
09:27 EDTSYKRumors of Smith & Nephew bid from Stryker intensify, Daily Mail says
Shares of Smith & Nephew (SNN) rallied in U.K. trading amid "intensified" rumors that Stryker (SYK) will make a GBP 13B plus bid for its rival when its Takeover Panel restrictions are removed at month end, according to The Daily Mail's "This is Money." Reference Link

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