Key insights
- Intuitive Surgical (ISRG) shares declined significantly following mixed Q3 results, with revenue missing expectations despite an earnings beat. Analysts cited concerns over the impact of GLP1 drugs on the bariatrics business and headwinds in China as key drivers for the stock's drop. Deutsche Bank lowered its price target, reflecting these sector-specific pressures that could weigh on other medical device companies facing similar challenges.
Intuitive Surgical reported mixed third quarter results as earnings beat, but revenue missed analysts' forecasts as Intuitive Surgical, Inc. (NASDAQ:ISRG) shares fell over 8% lower in pre-market Friday.
Intuitive Surgical reported EPS of $1.46 on revenue of $1.74 billion. Analysts polled by Investing.com anticipated EPS of $1.42 on revenue of $1.77B.
The company shipped 312 da Vinci Surgical Systems, up from 305 in Q3 last year.
Deutsche Bank analysts cut the price target by $60 to $275 per share on Hold-rated stock. They attributed the selloff to GLP1 pressures on bariatrics business and China headwinds.
Additional reporting by Senad Karaahmetovic
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