Health Winners & Losers: Intuitive Surgical - TheStreet

Health Winners & Losers: Intuitive Surgical

Intuitive Surgical soars on an earnings beat.
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Earnings, earnings, and more earnings. The health sector held up Wednesday as pharma stocks recovered a bit from some early-week woes.

Intuitive Surgical

(ISRG) - Get Report

surged $50.90, or 18.2%, to $331.13 on Wednesday after the company beat second-quarter earnings expectations and raised full-year revenue guidance.

The medical-equipment company earned $52.1 million, or $1.28 a share, vs. 79 cents a share in the prior- year period. Revenue bounded 56% to $219 million. Results surpassed the expectations of analysts, who were looking for earnings of $1.18 a share on revenue of $208.6 million, according to Thomson Reuters.

The company also raised its guidance for full-year revenue growth to a range of 45% to 47% -- roughly $871 million to $883 million -- from 42%. Analysts had pegged $873 million for the year.




shares fell $3.38, or 4.3%, to $75.92 after the company reported its

second-quarter results

. GAAP earnings fell on a licensing fee the company paid to

Isis Pharmaceuticals


, but the company beat adjusted targets on strong sales of its lysosomal storage disorder franchise.

On an adjusted basis, the company earned $268.5 million, or 98 cents a share, on revenue of $1.171 billion. Analysts surveyed by Thomson Reuters had expected earnings of 97 cents a share on revenue of $1.13 billion.

Notably, the company didn't raise its full-year guidance, and investors still await two catalysts for larger scale production of pompe disease treatment Myozyme -- an FDA advisory panel regarding the 2000L scale production in the U.S. in October and application for 4000L scale production in Europe with a projected approval in the first half of 2009.

Elsewhere, a trio of Big Pharma companies laid out their second-quarter numbers as well. A quick summary:


(PFE) - Get Report

beat profit targets by a penny

and touted revenue of $12.1 billion, easily surpassing the Street view of $11.46 billion. Foreign exchange rates helped offset a highly competitive statin market, $496 million of revenue lost to expiring patent exclusivity and safety concerns that spurred a 35% decline in U.S. sales of its smoking-cessation drug Chantix.

Looking ahead, Pfizer is guiding for earnings of $2.35 to $2.45 a share on revenue of $47 billion to $49 billion in 2008. Shares climbed 72 cents, or 3.9%, to $19.07.

Next up is



, which said that factoring out charges of $155.2 million from severance related to workforce reductions in its Protonix business, adjusted income came to 91 cents a share, up a penny from the same quarter last year, and

4 cents better than the Street consensus


Wyeth generated revenue of $5.9 billion, up from $5.6 billion a year ago, beating the Thomson Reuters estimate of $5.69 billion. Wyeth shares traded up 87 cents, or 2%, at $45.55.

That leaves


(GSK) - Get Report

. U.K.-based Glaxo said profit declined 3% to 1.29 billion pounds ($2.6 billion), vs. 1.33 billion pounds a year prior. Revenue rose to 5.9 billion pounds ($11.8 billion) from 5.7 billion pounds in the 2007 period. Looking ahead, the company reaffirmed expectations for a mid-single digit decline in earnings per share for the full year at constant exchange rates.

With earnings, the drugmaker announced new strategic initiatives. It plans to diversify its global business with new investments in vaccines, consumer health care and biopharmaceuticals while considering business potential in emerging economies.

The company is also seeking to impove R&D productivity and simplify its operating model. The company said it launched a series of activities to improve its operations efficiency, selling model and manufacturing, and generate substantial working capital savings -- this is in addition to the ongoing restructuring program. Shares edged up 11 cents, or 0.2%, at $48.66.

Last, a non-earnings item.


(AMGN) - Get Report

said Wednesday that it has been notified by the Food and Drug Administration that it will not make a decision on Nplate by the PDUFA date -- the expected goal date for a decision -- of July 23. Amgen said it continues to work to assist the FDA with the review process for Nplate, a treatment for low platelet count in patients with chronic immune thrombocytopenic purpura (ITP), an autoimmune disease that causes bleeding.

The company said in a statement that it's optimistic that a final decision will be made soon but can't speculate on the timing of the FDA's response. Shares ended down 68 cents, or 1.3%, at $53.92.

Pfizer, Wyeth, Glaxo and Amgen are all components of the Amex pharmaceutical index, which enjoyed its first day in the green this week, rising 0.6% to 304.75.