Get 40% Off
🤑 This hedge fund gained 26.16% in the last month. Get their top stocks with our free stock ideas tool.See stock ideas

Intuitive Surgical stock drops on mixed Q3 results; analysts say investors concerned about GLP1 and China

EditorHari Govind
Published 2023-10-20, 06:28 a/m
© Reuters
ISRG
-

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 (ETR:DBKGn) 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

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.