For the third quarter, Wall Street is expecting earnings of $3.50 a share from Intuitive Surgical on revenue of $534.9 million. JPMorgan was adamant that its call "is not about the quarter" but did add it thinks the risk is "to the upside" for both the third quarter and full year.
"We do not have enough conviction on the system placement number to say that one must go long in front of the print, and clearly, med tech pre-announcements to date have featured notable shortfalls (e.g., EW, NUVA, DXCM), which have been attributed, at least in part, to weakness in Europe and softer procedure volumes," the firm said.
Tuesday's economic calendar includes the consumer price index for September at 8:30 a.m. ET; the net long-term Treasury International Capital flow data for August at 9 a.m. ET; industrial production and capacity utilization data for September at 9:15 a.m. ET; and the National Association of Home Builders housing market index for October at 10 a.m. ET.
Written by Michael Baron in New York.
>To contact the writer of this article, click here: Michael Baron.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV