Analyst Round-Up: Intuitive Surgical (ISRG) - 3 Downgrades, 2 Price Target Cuts

Several analysts are out with downgrades on Intuitive Surgical (Nasdaq: ISRG) today following the company's Q4 and FY08 warning, which was issued after the close yesterday.

• Needham downgraded Intuitive from Buy to Hold, citing "medtech sector fundamentals are worse than we previously realized..." Click here for the full report.
  
• downgraded to Sell at Brean Murray, with an $80 price target. Click here for the full report.
  
• Lazard Capital Markets cut Intuitive from Buy to Hold.
  
• JPMorgan cut its price target on ISRG from $150 to $122, while maintaining a Neutral rating.
  
• Deutsche Bank also lowered its target, moving its expected price from $290 to $130. Despite the estimate cut, the firm maintains a Buy rating on Intuitive.

Shares of Intuitive Surgical are currently trading down 7.3% to $109.49. While still down a good amount, shares are well off their session lows, as the stock dipped as much as 20% in after-hours trading following last night's news.

Intuitive Surgical, Inc., together with its subsidiaries, engages in the design, manufacture, and marketing of da Vinci surgical systems for use in urologic, cardiothoracic, gynecologic, and general surgeries.

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