INTUITIVE SURGICAL $509.33 (Nasdaq symbol ISRG; TSINetwork Rating: Average) (515-507-5000; www.intuitivesurgical.com; Shares outstanding: 40.1 million; Market cap: $20.7 billion; No dividends paid) makes the da Vinci, a computerized surgical system.
Intuitive fell as low as $493 a share on February 28, 2013, from $570. However, it has since regained a lot of that decline.
The shares fell on a report that the U.S. Food and Drug Administration (FDA) sent out surveys asking surgeons to detail any complications they may have seen with surgeries performed using the da Vinci. The FDA also asked them which procedures they think the system is best and least suited for, and also to describe their training.
The inquiry is part of a response to several incident reports that patients sent to the FDA, including some that described serious complications with gynecological surgeries.
Intuitive’s marketing efforts continue to create demand for robotic surgery from patients looking for less invasive procedures, faster recovery times and less post-operative discomfort. However, the company may need to introduce more training in response to the FDA inquiries. That could delay some new sales to hospitals.
Intuitive Surgical is a hold.
