Goldman Sachs Defends Intuitive Surgical (ISRG)

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Goldman Sachs today maintained a Buy rating on Intuitive Surgical (NASDAQ: ISRG) with a price target of $715.00. Analysts said further downside in the stock was limited, even under an extreme bear case.

"By our math, we see fundamental risk in the 9% range, assuming that hysterectomy procedures flatten out in 2013 (vs. GSe at +22%) and growth in new procedures is cut in half (from 38% to 19%)," said analyst David H. Roman.

"Initial channel feedback refutes the prospects for either of these outcomes. Moreover, we have learned that a growing contingent of surgeons is taking a public stand to promote robotic surgery benefits for practitioners, patients, and health systems," added the analyst.

Shares of Intuitive Surgical are down 20 percent in the past month.

For an analyst ratings summary and ratings history on Intuitive Surgical (NASDAQ: ISRG) click here. For more ratings news on Intuitive Surgical click here.

Shares of Intuitive Surgical closed at $459.44 yesterday, with a 52 week range of $455.18-$594.89.

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