Intuitive Surgical (ISRG) stock tumbled Tuesday, alongside shares of other medtech leaders like Abbott Laboratories (ABT), Stryker (SYK) and Medtronic (MDT), after HCA Healthcare trimmed its full-year earnings outlook, suggesting a drop in surgical procedures.
HCA Healthcare, the largest for-profit hospital operator, said inpatient surgeries declined 2.3% while outpatient procedures fell 3.4% in the second quarter compared with the year-ago period.
As a result, HCA now projects $6.3 billion to $6.7 billion in net income and adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, of $15.4 billion to $16.1 billion. That's down from the prior outlook for roughly $6.5 billion to $7.04 billion in net income and adjusted EBITDA of $15.55 billion to $16.45 billion.
HCA also narrowed its sales guidance, now projecting $77 billion to $79.5 billion. The midpoint of the new outlook, $78.25 billion, matches the company's prior view.
HCA Healthcare, the largest for-profit hospital operator, said inpatient surgeries declined 2.3% while outpatient procedures fell 3.4% in the second quarter compared with the year-ago period.
As a result, HCA now projects $6.3 billion to $6.7 billion in net income and adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, of $15.4 billion to $16.1 billion. That's down from the prior outlook for roughly $6.5 billion to $7.04 billion in net income and adjusted EBITDA of $15.55 billion to $16.45 billion.
HCA also narrowed its sales guidance, now projecting $77 billion to $79.5 billion. The midpoint of the new outlook, $78.25 billion, matches the company's prior view.
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