What's Going On With Intuitive Surgical Stock?

Intuitive Surgical Inc ISRG shares are trading lower Wednesday after the company reported preliminary results below analyst estimates

What Happened: Ahead of its presentation at the 41st Annual J.P. Morgan Healthcare Conference, Intuitive Surgical said it expects fourth-quarter revenue of approximately $1.66 billion versus average analyst estimates of $1.68 billion, according to Benzinga Pro.

The surgical robotics company expects full-year revenue to come in around $6.22 billion versus average estimates of $6.25 billion.

During the first half of 2022, COVID-19 resurgences impacted da Vinci procedure volumes in the U.S. and Europe followed by recoveries. During the second half of 2022, COVID-19 resurgences impacted da Vinci procedure volumes in China.

"COVID-19 has had, and may continue to have, an adverse impact on the Company's procedure volumes," Intuitive Surgical said.

Intuitive Surgical is scheduled to present at the 2023 J.P. Morgan Healthcare Conference Wednesday at 12 p.m. ET. The company is set to report its fourth-quarter results on Jan. 24.

See Also: Why Lipella Pharmaceuticals Stock Is Soaring Today

ISRG Price Action: Intuitive Surgical has a 52-week high of $327.14 and a 52-week low of $180.07.

The stock was down 4.8% at $258.33 at the time of writing, according to Benzinga Pro.

Photo: courtesy of Intuitive Surgical.

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