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Intuitive Surgical stock drops on mixed Q3 results; analysts say investors concerned about GLP1 and China
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Intuitive Surgical reported mixed third quarter results as earnings beat, but revenue missed analysts' forecasts as Intuitive Surgical, Inc. (NASDAQ:ISRG) shares fell over 8% lower in pre-market Friday.
Intuitive Surgical reported EPS of $1.46 on revenue of $1.74 billion. Analysts polled by Investing.com anticipated EPS of $1.42 on revenue of $1.77B.
The company shipped 312 da Vinci Surgical Systems, up from 305 in Q3 last year.
Deutsche Bank analysts cut the price target by $60 to $275 per share on Hold-rated stock. They attributed the selloff to GLP1 pressures on bariatrics business and China headwinds.
Additional reporting by Senad Karaahmetovic
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