The Chairman sold 20k shares of his 380k shares as he has done in most years past and this is somehow supposed to signal a loss of confidence??? The Insider ownership percentage has always been modest for ISRG for as long as I've owned it, which is since it was around $100. Insiders were selling regularly all the way up just as they are now.
You'll have to come up with something better. And for the record, your black Monday prediction was a bust. You haven't got a clue, only a wish.
I think the market over reacted to the prostatectomy news in the prior qtr and so most of that bad news was already priced in. IMO that is why we didn't get the anticipated negative reaction. The bad news was mostly already old news and they performed very strongly in almost all other areas. They didn't raise guidance but they did say they would come in at the high end. Also while the tax reserve gain was a one time thing, it does mean that prior quarters EPS were better than ISRG reported at the time had they not set aside these reserves which in retrospect were excessive. This is not to say they could have or should have set aside less, only that in retrospect the reserves were excessive and thus the recent benefit.