Intuitive Surgical, Inc. (NASDAQ:ISRG) shares down by 16.15%

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Dallas, Texas 07/10/2013 (Financialstrend) – Intuitive Surgical, Inc. (NASDAQ:ISRG), the prime manufacturer of the Da Vinci Surgical Robot, recently announced that the second quarter financial performance of the company will be lower than the average expectations of the analysts. This led to a continuous decline of the company’s shares in the recent trading sessions. While analysts forecasted quarterly revenues for the company at $629.6 million, Intuitive Surgical, Inc. (NASDAQ:ISRG) announced that the revenues will stand at $575 million.

This revenue expectation is however an increase of 7 percent from the company’s revenue reported for the same quarter in the previous year. Intuitive Surgical, Inc. (NASDAQ:ISRG) further announced that the company’s revenue from the sales of the Da Vinci Surgical Robots will decline by 6 percent over the previous year to around $215 million. The company further added that there has been an increase of 18 percent in the surgical procedures using these robots.

After reaching the intraday high price of $429.88, the share price of Intuitive Surgical, Inc. (NASDAQ:ISRG)) closed at $419.30 with an intraday low price of $406.69. The share price of Intuitive Surgical, Inc. (NASDAQ:ISRG) decreased by 16.15 percent, closing at $428.00 on Tuesday. The 52-week high price of Intuitive Surgical, Inc. (NASDAQ:ISRG) is $585.67 and the 52-week low price stood at $406.69. With 40.16 million total outstanding shares, the market capitalization of Intuitive Surgical, Inc. (NASDAQ:ISRG) is $16.84 billion. The intraday share trading volume for yesterday was 5.58 million, whereas the average trading volume of Intuitive Surgical, Inc. (NASDAQ:ISRG) heads up to 266,798.00 million shares. Institutional ownership in Intuitive Surgical, Inc. (NASDAQ:ISRG) records a contribution of 94 percent of the company’s total outstanding shares.

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