Troubles Continue for Intuitive Surgical, Inc. (ISRG) as Shares Keep Falling
3/15/2013 6:51:40 AM
Troubles continued for robotic surgeon maker Intuitive Surgical Inc., as shares took another tumble Thursday following the company’s explanation of recent federal scrutiny over its da Vinci devices. Intuitive ISRG -0.39% shares fell by nearly 4% to $489.89, a day after the company said a rise in reports of troubles with its machines are due mostly to a revised reporting practice. The company said it revised those practices in September and started seeing a rise in device malfunction reports, most of which were related to instruments but not devices. “None of these device malfunction [reports] involved reportable injuries or deaths,” the company’s statement said. Just before the close on Feb. 28, the company’s shares dropped more than 11%, which amounted to a fall of $63.63 a share. It was reported at the time that the U.S. Food and Drug Administration was scrutinizing an increase in reports regarding the elaborate devices used to conduct surgeries.