Intuitive Surgical (ISRG) Shares Surge Following Thursday Freak-out

March 1, 2013 11:02 AM EST Send to a Friend
Get Alerts ISRG Hot Sheet
Price: $531.96 +1.61%

Rating Summary:
    22 Buy, 7 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 28 | New: 51
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Shares of Intuitive Surgical (NASDAQ: ISRG) surged on Friday, paring losses following a massive drop on Thursday afternoon. The concern relates to reports that the FDA is investigating the safety and use of the company's da Vinci robotic system. While the headline was frightening, analysts are urging investors to remain calm as the investigation appears to be "standard postmarket surveillance".

Goldman Sachs analyst David H. Roman said, "We acknowledge the risk that the FDA inquiry poses, the potential for increased volatility in ISRG shares, and uncertainty in how the clinical community will react to the FDA survey."

"At this point," continued Roman, "we see no evidence to derail our bullish thesis and see current levels presenting a compelling entry point."

Analysts at Cantor Fitzgerald went one step further and upgraded the stock to Buy, calling the selloff a "gross overreaction".

Goldman Sachs has a Buy rating on Intuitive Surgical with a price target of $715.

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 $509.89 yesterday.


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