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Intuitive Surgical, Inc. Message Board

buzzybob 16 posts  |  Last Activity: Apr 23, 2015 11:55 AM Member since: Mar 16, 1999
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  • Reply to

    Buyback

    by buzzybob Apr 23, 2015 10:38 AM
    buzzybob buzzybob Apr 23, 2015 11:55 AM Flag

    Hi GSA-
    The cushion just seems a little... cushy. Novadaq has a $25M annual burn rate now. At that pace it would take five years to run through the cash. If we didn't see positive cash flow in a year I'd be thoroughly amazed.

  • buzzybob by buzzybob Apr 23, 2015 10:38 AM Flag

    In October of 2013 Novadaq placed a stock offering at $16.75 per share, gaining $105M. At the time it was billed as paving the way for future acquisitions or buying complementary businesses. It was thought that they were about to buy a business to acquire a fully functioning sales staff. This never happened and Novadaq filled out their own sales team.

    As of last quarter they still had $141M in cash. We are now $4 or 25% below the offering price. Is it time for the company to reinvest some of this money with a partial buy back? Or at least authorize one to open the option?

  • buzzybob buzzybob Apr 9, 2015 9:31 AM Flag

    I thought the post was near to inviting a lawsuit, may be the author rethought it and got cold feet. Or maybe a complaint was filed and Yahoo took it down. I have seen other controversial posts disappear.

    Yahoo terms of service -

    You agree to not use the Yahoo Services to upload, post, email, transmit, or otherwise make available any Content that is unlawful, harmful, threatening, abusive, harassing, tortious, defamatory, vulgar, obscene, libelous, invasive of another's privacy, hateful, or racially, ethnically, or otherwise objectionable;

  • Reply to

    short interest

    by vonpezel Mar 24, 2015 4:29 PM
    buzzybob buzzybob Mar 25, 2015 2:47 PM Flag

    Looks to me like he sold 20,000 at market to cover the cost of exercising 233,178 in options at C$1.34.

  • Reply to

    Macular Degeneration - OPTTX System

    by buzzybob Mar 21, 2015 8:12 AM
    buzzybob buzzybob Mar 21, 2015 10:49 AM Flag

    Before getting too excited, this may be a quietly discontinued product. There is a reference in the 2009 Q4 statement to a write down of the OPTTX intangible asset and inventory. Sorry if I didn't perform adequate DD before posting.

  • I was totally unaware that Novadaq makes a device (known as the OPTTX System, CE Mark 2006) to diagnose and treat age-related, wet Macular Degeneration. Evidently, the system combines SPY imaging technology and cauterization. Most web information about it from the 2005-2008 era, mostly trial and study references, but announcement information was from prnewswire. A term search of the company website with "optxx" or "macular" came up with zero hits.

    Comments?

  • Reply to

    short interest

    by vonpezel Mar 11, 2015 9:24 PM
    buzzybob buzzybob Mar 19, 2015 5:38 PM Flag

    I, too, thought the percentage split was in reference to the status of the SPY Elite accounts at handover and not an indictment of the sales teem.
    Regards, Buzz

  • buzzybob buzzybob Mar 18, 2015 1:02 PM Flag

    I agree with the lack of news comment. With the exception of the pre-announcement of earnings and the conference call there has been amazingly little news over the last three months. The investor conferences have revealed little more than what was already known.

    Maybe SAGES 2015 (April 14-18) will get the ball rolling.

  • Reply to

    2014 CC Opinions

    by gopointers2 Feb 25, 2015 5:31 PM
    buzzybob buzzybob Feb 28, 2015 6:18 AM Flag

    Hi, irony-
    You want gloomy analysis? Here’s gloomy! Procedure growth for the quarter reported previous to this one was 23% q-o-q or 129% annualized. Procedure growth for this one was 9% q-o-q or 40% annual. Gloomy enough?

    (I can't let it go without commenting that I think they must have been counting kits and not procedures. Inventory adjustments, perhaps?)

    Prissily yours, Buzz

  • Reply to

    2014 CC Opinions

    by gopointers2 Feb 25, 2015 5:31 PM
    buzzybob buzzybob Feb 26, 2015 1:20 PM Flag

    From the CC, only two Spy Elites were sold in the month of December by Lifecell in spite of their insistence in the termination agreement that for thirty-some-odd accounts that they, and they only, be able to book capital sales. Customers commented that they wanted to defer sales until they could buy directly from Novadaq, the company that would servicing their accounts in the future. It looks like a bulge in the pipeline.

    As an aside, the number of shares short sits at 4.4M shares, up 5.5% for the latest reporting period (mid February). This is yet again another all-time high, up 90% in just over 6 months. The days-to-cover figure is also a new record - 20 days.

    Regards, Buzz

  • Reply to

    SEC filings update

    by vonpezel Feb 13, 2015 1:29 PM
    buzzybob buzzybob Feb 15, 2015 8:01 AM Flag

    GSA,
    A manipulator would be unlikely to be able to differentiate a frown from a smile with such a toothless organization as the SEC. The big players and political fund-raisers look on this like we look on the Mona Lisa, with a sense of beauty.
    Buzz

  • Reply to

    Todays Movement---any explainations?

    by andersongordon Feb 11, 2015 4:18 PM
    buzzybob buzzybob Feb 12, 2015 5:08 PM Flag

    Given the weaker than expected performance caused by the SPY Elite hand-off, I think they had to reiterate the 40% number. It's been their growth target for a long time and if the current indicators honestly warrant 40%, they should stick with it. Management should have a better handle on sales numbers now that Lifecell is out of the way. Any backpedaling just to create an expectation cushion and the stock would be hammered for little reason.
    Regards, Buzz

  • Reply to

    EARNINGS II

    by andersongordon Feb 4, 2015 11:40 AM
    buzzybob buzzybob Feb 5, 2015 9:23 AM Flag

    Double curious. Yahoo earnings company earnings calendar now shows Novadaq reporting today, Feb. 5 after-hours. I checked a couple of days ago and it was not listed. IR, where are you?

  • Reply to

    EARNINGS II

    by andersongordon Feb 4, 2015 11:40 AM
    buzzybob buzzybob Feb 4, 2015 12:42 PM Flag

    Curious. I was expecting an announcement on Monday for an earnings release on Thursday the following week. Are they having trouble digesting international sales numbers or the fallout of the Lifecell shutdown? A big announcement in the offing?

  • Reply to

    earnings

    by vonpezel Jan 26, 2015 4:07 PM
    buzzybob buzzybob Jan 27, 2015 8:18 PM Flag

    My thought in the past, as now, is that the trials and tribulations of the Lifecell saga will continue to recede in importance as PINPOINT and LUNA skyrocket. Spy Elite is important but it is an open surgery tool and therefore will tend fade going forward as techniques advance.

  • Reply to

    earnings

    by vonpezel Jan 26, 2015 4:07 PM
    buzzybob buzzybob Jan 27, 2015 6:34 AM Flag

    Hi Pezel-

    Last year the company announced on January 27th for the earnings release on February 6th. I'll defer any concern for a few days.

    It will be interesting to hear how they field questions about the Lifecell numbers. This isn't the first time there has been a surprise. The intra-quarter sales and inventory levels of their former partner seem to have been completely opaque to Novadaq until the end of each quarter. Still, Arun had to know Lifecell would have zero motivation to promote SPY Elite in what was for them a dead-end quarter.

    Regards, Buzz

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