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Cree, Intuitive Surgical, Alexion Pharmaceuticals, Roche and Onyx Pharmaceuticals highlighted as Zacks Bull and Bear of the Day
Date:7/16/2013

tarting to take their toll on a number of companies in the space, as many are forgoing new purchases of equipment, or are buying less. One such company that has been the poster child of this trend and has seen its stock price suffer as a result is certainly Intuitive Surgical (Nasdaq: ISRG-Free Report).

ISRG is probably best known for its da Vinci Surgical System which helps surgeons to perform operations with increased precision and control. The basis of the system uses robotics, while there are also HD 3D vision systems, and proprietary instrument technologies as well.

Sales of this innovative device rose pretty much across the globe, though they struggled in the American market, according the preliminary Q2 earnings. Their key product saw only 90 sales in the U.S. market, compared to 124 a year ago, highlighting a very sluggish sales market (also read Medical Device ETFs Slump on Intuitive Surgical Crash).

This was especially troubling because the company pinned the lower sales on the difficult environment in the U.S., and the lack of hospital dollars for new technologies. This bearish outlook is driving the stock sharply lower, with prices for ISRG collapsing by about 14% in the past month alone.

And with the poor outlook from company management, many analysts seemed to have no choice but to slash their expectations for the company in the near term. In the past week, eight estimates have been cut for the current and next quarters, as well as the current and next year periods as well.

 

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SOURCE Zacks Investment Research, Inc.
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