Intuitive Surgical takes an after-hours dive on missed Q2 sales prelims

July 8, 2013 by Brad Perriello

Intuitive Surgical says it expects 2nd-quarter sales to be well shy of its prior forecast and well below analysts' expectations, sending shares down nearly 12% today in after-hours trading.

Intuitive Surgical takes an after-hours dive on missed Q2 sales prelims

Intuitive Surgical (NSDQ:ISRG) took a nearly 12% hit in after-hours trading today after the medical device company said it expects to miss its 2nd-quarter sales forecast.

The Sunnyvale, Calif.-based robotic surgery company said it expects to post sales of roughly $575 million, up 7.3% from the 2nd quarter of 2012 but well shy of analysts' $630 million expectations.

Those expectations were fueled by Intuitive's guidance last quarter, of Q2 sales reaching the higher end of its sales growth forecast of 16%-19%, or $621.8 million to $637.8 million.

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As a result, ISRG shares were going for $442 apiece in after-hours action tonight as of about 7:30 p.m., down 11.6%.

"While we are disappointed in our performance this quarter, particularly with respect to our capital sales in the U.S., overall procedure performance was solid in a difficult environment. We remain confident in the value that our products and services bring to patients, hospitals and the healthcare system," president & CEO Gary Guthart said in prepared remarks.

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