Intuitive Surgical falls on antitrust charge despite Q3 beat
-2.26% to $428.12 from $438.00
What moved ISRG
- Adjusted earnings per share of $3.00 beat the $2.65 estimate, and revenue of $3.05 billion topped forecasts, up 22% year over year
- Results included a $450 million pre-tax charge tied to settling an antitrust class action over da Vinci surgical robots, cutting GAAP EPS by 99 cents
- U.S. da Vinci procedure growth data fell short of elevated Street expectations, overshadowing the headline earnings beat
- The company disclosed planned pricing changes that could reduce da Vinci instrument and accessory revenue per procedure by 3% to 5% over time
Sources: Investing.com · Seeking Alpha