(Reuters) – Surgical robots maker Intuitive Surgical missed analysts’ estimates for third-quarter sales on Thursday, sending its shares down nearly 8% after the bell.
Healthcare companies have had to allay investor concerns in the past few months about the impact on their products from the growing popularity of weight-loss drugs such as Novo Nordisk’s Wegovy.
Johnson & Johnson on Tuesday signaled a hit to sales of devices used to perform abdomen surgeries such as bariatric as obese patients make a switch to the drugs.
Intuitive Surgical, which makers surgical robots called da Vinci, reported third-quarter sales of $1.74 billion, missing analysts’ estimates of $1.77 billion, according to LSEG data.
The company has been a market leader in manufacturing surgical robots that helps surgeons to perform minimally invasive procedures.
Excluding items, the company earned $1.46 per share in the three months ended Sept. 30, compared to analysts’ average estimate of $1.41, according LSEG data.
Shares of the California-based company were trading at $250 after the bell.
(Reporting by Khushi Mandowara in Bengaluru; Editing by Sriraj Kalluvila)
