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Stock Market & Financial Investment News

News Breaks
February 14, 2014
07:14 EDTISRGIntuitive Surgical: Ernst & Young declines to respond to 'request for proposal'
On February 10, Intuitive Surgical sent Ernst & Young LLP, as well as other accounting firms, a “request for proposal” for services associated with the audit of the company’s consolidated financial statements for the year ending December 31, 2014. On February 11, 2014, Ernst & Young declined to respond to the “request for proposal” and further indicated that it was declining to stand for re-election as auditors of the company’s financial statements for the year ending December 31, 2014, and effectiveness of the company's internal control over financial reporting as of December 31, 2014. Comments taken from an 8-K filing.
News For ISRG 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.
November 24, 2014
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.

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