Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Intuitive Surgical Inc (NASDAQ:ISRG) shares are down nearly 10% Wednesday morning after the company reported worse-than-expected financial results. Multiple analysts also cut price targets on the stock following Intuitive Surgical's quarterly results.
What Happened: Intuitive Surgical said fourth-quarter revenue increased 7% year-over-year to $1.66 billion, which missed average estimates of $1.67 billion, according to Benzinga Pro. The company reported quarterly earnings of $1.23 per share, which missed estimates of $1.25 per share.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Worldwide da Vinci procedures jumped approximately 18% on a year-over-year basis despite a resurgence in COVID-19 in China, which negatively impacted procedure volumes in the region.
Intuitive Surgical said it placed 369 da Vinci Surgical Systems, representing a decrease of 4% year-over-year. The da Vinci Surgical System installed base grew to 7,544 systems, up 12% year-over-year.
The company ended the quarter with $6.74 billion in cash and equivalents. Intuitive Surgical also said it repurchased $1 billion of its common stock in the fourth quarter.
See Also: Best Healthcare Stock Right Now
Analyst Assessment:
- Wells Fargo analyst Larry Biegelsen maintained Intuitive Surgical with an Overweight and lowered the price target from $305 to $289.
- Truist Securities analyst Richard Newitter maintained Intuitive Surgical with a Buy and lowered the price target from $310 to $300.
- Morgan Stanley analyst Cecilia Furlong maintained Intuitive Surgical with an Equal-Weight and lowered the price target from $290 to $265.
- BTIG analyst Ryan Zimmerman maintained Intuitive Surgical with a Buy and lowered the price target from $316 to $279.
ISRG Price Action: Intuitive Surgical has a 52-week high of $308.97 and a 52-week low of $180.07.
The stock is down 9.14% at $234.41 at time of publication, according to Benzinga Pro.
Photo: courtesy of Intuitive Surgical.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.