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July 22, 2014
13:57 EDTISRGEarnings Preview: Intuitive Surgical share price flat over last 12 months
Intuitive Surgical (ISRG) is scheduled to report second quarter earnings after the market close on Tuesday July 22 with a conference call scheduled for 4:30 pm ET. Intuitive Surgical designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. EXPECTATIONS: Analysts are looking for EPS of $2.83 on revenue of $501.7M, according to First Call. The consensus range for EPS is $1.97-$3.46 on revenue of $444.0M-$554.0M. LAST QUARTER: Intuitive Surgical reported first quarter EPS with items of $1.13 against estimates of $3.27 on revenue of $464.7M against estimates of $558.46M. Systems revenue decreased to $106M in Q1, compared with $256M for the year earlier. The decrease was driven by lower U.S. systems sales and the revenue deferral of $24M relating to the da Vinci Xi customer trade-out program. Intuitive Surgical shipped 87 da Vinci Surgical Systems during the three months ended March 31, compared with 164 in the same period last year. The decrease in system unit shipments primarily reflected lower first quarter of 2014 system sales into the U.S. market. U.S. system shipments were down in the first quarter of 2014 as a result of lower procedure growth, changing hospital capital spending priorities associated with the implementation of the Affordable Care Act, and the impact that anticipation of a new system may have had on customer capital-spending decisions. STREET RESEARCH: In May, Leerink lowered its price target for Intuitive Surgical shares to $415 from $443 citing low visibility into a turnaround for procedure growth and system placement trends. Leerink said a general surgeon it spoke to was hesitant to characterize Intuitive's new Xi system as a "must have" technology. The firm kept a Market Perform rating on the stock. More recently, on July 18, Jefferies noted that its survey of 50 Japanese urologists indicates Intuitive Surgical is building momentum in the region. The firm believes Japan represents a "substantial and still untapped" market opportunity for Intuitive. It thinks expanded reimbursement of additional procedures will drive further adoption and keeps a Buy rating on the stock with a $465 price target. PRICE ACTION: Shares of Intuitive Surgical are essentially flat over the last 12 months, and well off their 2014 high of $541.23 that occurred in early April before the company pre-announced a Q1 revenue shortfall. Shares of the company are up over 2% to $396.80 in afternoon trading ahead of its Q2 earnings report.
News For ISRG From The Last 14 Days
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October 22, 2014
10:09 EDTISRGOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AOL (AOL) upgraded to Buy from Hold at Evercore... ARM Holdings (ARMH) upgraded to Buy from Neutral at UBS... American Assets Trust (AAT) upgraded to Buy from Hold at MLV & Co.... American Midstream Partners (AMID) upgraded to Buy from Neutral at Ladenburg... BancorpSouth (BXS) upgraded to Neutral from Underweight at JPMorgan... Chesapeake (CHK) upgraded at UBS... Chuy's (CHUY) upgraded to Buy from Hold at Stifel... Dean Foods (DF) upgraded to Overweight from Equal Weight at Morgan Stanley... East West Bancorp (EWBC) upgraded at BMO Capital... El Paso Electric (EE) upgraded to Buy from Neutral at Ladenburg... Generac (GNRC) upgraded to Buy from Hold at KeyBanc... Gold Fields (GFI) upgraded to Overweight from Neutral at HSBC... Harmony Gold (HMY) upgraded to Neutral from Underweight at HSBC... Hess Corp. (HES) upgraded to Buy from Neutral at UBS... Hovnanian (HOV) upgraded to Market Perform from Underperform at JMP Securities... Intuitive Surgical (ISRG) upgraded to Buy from Neutral at BTIG... OMV AG (OMVKY) upgraded to Neutral from Underperform at Credit Suisse... Seaspan (SSW) upgraded to Neutral from Underperform at Credit Suisse... Sibanye Gold (SBGL) upgraded to Neutral from Underweight at HSBC... Smith & Nephew (SNN) upgraded to Overweight from Equal Weight at Barclays... Southwestern Energy (SWN) upgraded to Buy from Hold at Maxim... Steel Dynamics (STLD) upgraded to Outperform from Neutral at Macquarie... Steris (STE) upgraded to Strong Buy from Market Perform at Raymond James... Tesoro Logistics (TLLP) upgraded to Strong Buy from Outperform at Raymond James... Texas Instruments (TXN) upgraded to Outperform from Market Perform at Bernstein... Twitter (TWTR) upgraded to Hold from Sell at Hudson Square... Vanguard Natural (VNR) upgraded to Buy from Hold at Wunderlich... Volaris (VLRS) upgraded to Buy from Hold at Deutsche Bank... Wilshire Bancorp (WIBC) upgraded to Outperform from Neutral at Macquarie... Yahoo (YHOO) upgraded to Outperform from Market Perform at FBR Capital.
08:08 EDTISRGIntuitive Surgical upgraded to Buy from Neutral at BTIG
BTIG upgraded Intuitive Surgical to Buy with a $585 price target following the strong Q3 report and has increased confidence in long-term growth.
07:53 EDTISRGIntuitive Surgical price target raised to $585 from $500 at Jefferies
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07:44 EDTISRGIntuitive Surgical price target raised to $580 from $470 at WallachBeth
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07:34 EDTISRGIntuitive Surgical price target raised to $570 from $560 at Leerink
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06:48 EDTISRGIntuitive Surgical upgraded to Market Perform from Underperform at Northland
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October 21, 2014
16:59 EDTISRGIntuitive Surgical increases FY14 procedure growth view to 8%-9% from 5%-8%
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16:54 EDTISRGIntuitive Surgical saw disruption in Japan Q3 procedure growth
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16:53 EDTISRGIntuitive Surgical says Q3 U.S procedures grew 8%, international grew 20%
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16:51 EDTISRGIntuitive Surgical ended Q3 with $2.3B in cash
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16:50 EDTISRGIntuitive Surgical sees operating expenses in Q4 to increase
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16:44 EDTISRGIntuitive Surgical up 2.6% to $508.50 after Q3 results
16:32 EDTISRGIntuitive Surgical Q3 worldwide da Vinci procedures grew nearly 10% YoY
16:07 EDTISRGIntuitive Surgical reports adjusted Q3 EPS $3.92 , consensus $3.80
Reports Q3 Non-Gaap revenue $534M, consensus $517.81M.
15:30 EDTISRGNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Yahoo! (YHOO), consensus 30c; ACE (ACE), consensus $2.34; Discover Financial (DFS), consensus $1.34; Pinnacle Financial (PNFP), consensus 51c; Broadcom (BRCM), consensus 84c; Intuitive Surgical (ISRG), consensus $3.80; FMC Technologies (FTI), consensus 74c; Robert Half International (RHI), consensus 58c; E-Trade (ETFC), consensus 22c; Nabors Industries (NBR), consensus 36c; Waste Connections (WCN), consensus 54c; Cubist Pharmaceuticals (CBST), consensus 4c; Sonic (SONC), consensus 34c; American Campus Communities (ACC), consensus 43c; Cree (CREE), consensus 36c; Fulton Financial (FULT), consensus 20c; Costamare (CMRE), consensus 41c; Hawaiian Holdings (HA), consensus 78c; Ethan Allen (ETH), consensus 36c; Sabra Health (SBRA), consensus 55c; Rush Enterprises (RUSHA), consensus 51c.
13:57 EDTISRGEarnings Preview: Intuitive Surgical's procedure growth to be focus
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October 20, 2014
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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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.
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