Why Intuitive Surgical Stock Crumbled on Friday
Shares of Intuitive Surgical (NASDAQ: ISRG) slumped on Friday, plunging as much as 13.4%. As of 11:16 a.m. ET, the stock was still down 12.42%.
The catalyst that sent the medical device maker lower was better-than-expected financial results, but a cautious forecast that failed to inspire investors.
Intuitive Surgical generated first-quarter revenue of $1.49 billion, which climbed 15% year over year, resulting in gross profits that rose 12%. Unfortunately, higher costs weighed on operating income, which declined by 2%. This resulted in adjusted earnings per share (EPS) of $1.13.
Source Fool.com
