Why Intuitive Surgical Stock Dropped 20.7% in April

Shares of Intuitive Surgical (NASDAQ: ISRG) sank 20.7% in April, according to S&P Global Market Intelligence. This is more than double the losses of the broad S&P 500 Index, which sank 8.8% last month. The robotic surgery company and maker of the Da Vinci surgical system reported its first-quarter earnings, which caused its stock to drop.

On April 21, Intuitive Surgical reported earnings for the first three months of 2022. Revenue was up 15% to $1.49 billion, and non-GAAP (adjusted) earnings per share (EPS) came in at $1.13 for the period. This growth came from an increase in procedures and Da Vinci product sales. Da Vinci procedures were up 19% year over year around the world, and its install base hit 6,920 systems, up 13% year over year.

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Source Fool.com