{"id":38714,"date":"2023-07-21T12:39:07","date_gmt":"2023-07-21T16:39:07","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/intuitive-surgical-drops-on-weaker-demand-for-bariatric-surgeries-buy-the-dip-says-truist\/"},"modified":"2023-07-21T12:39:09","modified_gmt":"2023-07-21T16:39:09","slug":"intuitive-surgical-drops-on-weaker-demand-for-bariatric-surgeries-buy-the-dip-says-truist","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=38714","title":{"rendered":"Intuitive Surgical drops on weaker demand for bariatric surgeries; &#8216;buy the dip&#8217; says Truist"},"content":{"rendered":"<div>\n<div id=\"imgCarousel\" class=\"imgCarousel\">\n<p><span class=\"text\">\u00a9 Reuters <\/span><br \/>\n<i class=\"imgGrad\"><\/i>\n<\/div>\n<p>Investing.com &#8212; Intuitive Surgical (NASDAQ:) reported second quarter results that beat analyst expectations, driven by a rebound in elective surgeries following the lull during the pandemic when non-COVID-related procedures were held back.<\/p>\n<p>Still, Intuitive Surgical stock was down about 5% in pre-market Friday, following the report as analysts flagged a continued decline in growth rates for bariatric surgery in the U.S.<\/p>\n<p>Intuitive Surgical  earnings per share of $1.42 on revenue of $1.76 billion. Analysts polled by Investing.com anticipated EPS of $1.33 on revenue of $1.74B.<\/p>\n<p>\u201cOur core business was lifted by positive surgical trends and continued interest in robotic-assisted surgery compared with other surgical approaches,\u201d said Gary Guthart, Intuitive CEO.<\/p>\n<p>The company shipped 331 da Vinci Surgical Systems, an increase of 13% compared with 279 in the second quarter of 2022.<\/p>\n<p>Truist analysts see a buying opportunity in ISRH shares, following the after-earnings selloff.<\/p>\n<p>&#8220;We braced for a sell-the-news reaction as ISRG had run into the print w\/ elevating expectations. The buyside procedure bogey was ~23-24%, but that\u2019s splitting hairs in our view, especially given the underpenetrated TAM. We recommend buying pullbacks (shrs down ~5-6% AMC), especially with EPS growth accelerating, numbers moving up and durable drivers in place for ISRG to sustain a well-above-avg mid-teens rev &amp; EPS growth trajectory into the out-yrs. ISRG remains a preferred large-cap for us,&#8221; the analysts said in a client note.<\/p>\n<p>Stifel analysts, who lifted the price target by $60 to $375 per share, added: &#8220;Multiple positive secular tailwinds continue to drive accelerated robotic adoption, making us very positive about the long-term ISRG outlook.&#8221;<\/p>\n<p>Additional reporting by Senad Karaahmetovic<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.investing.com\/news\/stock-market-news\/intuitive-surgical-q2-results-top-estimates-as-elective-surgeries-rebound-3130340\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a9 Reuters Investing.com &#8212; Intuitive Surgical (NASDAQ:) reported second quarter results that beat analyst expectations, driven by a rebound in elective surgeries following the lull during the pandemic when non-COVID-related procedures were held back. Still, Intuitive Surgical stock was down about 5% in pre-market Friday, following the report as analysts flagged a continued decline in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7198,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-38714","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Intuitive Surgical drops on weaker demand for bariatric surgeries; &#039;buy the dip&#039; says Truist | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters Investing.com -- Intuitive Surgical (NASDAQ:) reported second quarter results that beat analyst expectations, driven by a rebound in elective\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=38714\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Intuitive Surgical drops on weaker demand for bariatric surgeries; 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