Intuitive Surgical Inc shares bounced back on Friday up 1.27 (1.27%) to $100.57 in trading on the Nasdaq.
ISRG slid Thursday, after the medical-equipment manufacturer reported a strong second quarter but failed to provide the "blowout" results some in the market expected.
Stock of the Sunnyvale, Calif.-based company fell $12.14, or 11 percent, to close at $99.30 on the Nasdaq Stock Market.
Thursday's weakest level, on heavy volume, was $97.13. On a 52-week basis, there was a low of $61.50 last July 27 and a high of $139.50 on Jan. 30.
Intuitive Thursday said second-quarter earnings rose to $16.7 million, or 44 cents a share, from $14.8 million, or 40 cents a share, a year earlier.
Excluding stock compensation expenses, earnings came in at 55 cents a share.
Analysts surveyed by Thomson Financial had forecast, on average, earnings of 40 cents a share. Such estimates typically exclude items.
"Some elements of the investor base were looking for a blowout quarter; it was a good quarter, not a blowout quarter," Oppenheimer & Co. analyst Timothy B. Nelson said.
Analysts said the sell-off was overdone, but came probably because the number of robotic da Vinci surgical systems it shipped during the quarter _ 39 _ was below what some expected.
Analysts were upbeat on the company's outlook, however, saying the increasing use of the company's machines by gynecologists in hysterectomies bodes well, and noting the company's updated 2006 revenue guidance.
The company said it expects total 2006 revenue to grow between 50 percent and 55 percent over 2005, with each revenue segment expected to grow more than previously forecast.
Intuitive Surgical had previously indicated it expected 2006 annual revenue to grow between 45 percent and 50 percent over 2005.
"Da Vinci has become an important marketing tool for hospitals in maintaining and gaining market share, and as such having the most cutting edge technology is viewed as very important by hospital administrators," Deutsche Bank analyst Tao Levy wrote in a research report. Deutsche Bank makes a market in the securities of Intuitive.
ISRG slid Thursday, after the medical-equipment manufacturer reported a strong second quarter but failed to provide the "blowout" results some in the market expected.
Stock of the Sunnyvale, Calif.-based company fell $12.14, or 11 percent, to close at $99.30 on the Nasdaq Stock Market.
Thursday's weakest level, on heavy volume, was $97.13. On a 52-week basis, there was a low of $61.50 last July 27 and a high of $139.50 on Jan. 30.
Intuitive Thursday said second-quarter earnings rose to $16.7 million, or 44 cents a share, from $14.8 million, or 40 cents a share, a year earlier.
Excluding stock compensation expenses, earnings came in at 55 cents a share.
Analysts surveyed by Thomson Financial had forecast, on average, earnings of 40 cents a share. Such estimates typically exclude items.
"Some elements of the investor base were looking for a blowout quarter; it was a good quarter, not a blowout quarter," Oppenheimer & Co. analyst Timothy B. Nelson said.
Analysts said the sell-off was overdone, but came probably because the number of robotic da Vinci surgical systems it shipped during the quarter _ 39 _ was below what some expected.
Analysts were upbeat on the company's outlook, however, saying the increasing use of the company's machines by gynecologists in hysterectomies bodes well, and noting the company's updated 2006 revenue guidance.
The company said it expects total 2006 revenue to grow between 50 percent and 55 percent over 2005, with each revenue segment expected to grow more than previously forecast.
Intuitive Surgical had previously indicated it expected 2006 annual revenue to grow between 45 percent and 50 percent over 2005.
"Da Vinci has become an important marketing tool for hospitals in maintaining and gaining market share, and as such having the most cutting edge technology is viewed as very important by hospital administrators," Deutsche Bank analyst Tao Levy wrote in a research report. Deutsche Bank makes a market in the securities of Intuitive.
posted by doublezero at
12:19 PM
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home