Dallas, Texas 07/22/2013 (Financialstrend) – The most prominent robotic surgical stock in the market had sent signals of worry with the recent decline in prices by double digits. The recently released financial earnings reports of Intuitive Surgical had not proved to attract any of the investors, which was in direct contradiction with this ever attractive stock used to presenting dazzling performance results in its balance sheet. While the firm had posted sales growth of 23% for all the quarters in the previous fiscal year, the recent growth in sales for the previous quarter was just at 7.8%, nothing to attract the investors. The actual revenue for the quarter, as released on Thursday had been reported to be at $576 million, a whopping $20 million less than the analyst estimates.
Further, there had been increasing discussions related to the safety and other legal issues of the company’s surgical procedures in the recent days. There had even occurred an investigation by the FDA of the United States related to the surgical procedures of the company. The decline in the sales of Da Vinci systems had further added on to the loss in sales for this quarter. All such negative sentiments had moved on to decline the shares in the recent trading sessions.
The stock had moved down by 6.83% to close at $392.67 on Friday, after the opening price at $366.00 per share. Intuitive Surgical, Inc. (NASDAQ:ISRG) had throughout the trading session moved between $357.02 and $393.17 per share and presently has 52 week lowest price at $357.02 and 52 week highest price at $585.67 per share. The market cap of the stock is at $15.77 billion with 40.16 million shares outstanding and 94% institutional ownership of capital. The trading volume on Friday was at 4.67 million shares on the stock and the average level is at 692,731.00 shares per day.
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