UPDATE: Canaccord Genuity Downgrades Intuitive Surgical Citing Q2 Results

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In a report published on Tuesday, Canaccord Genuity analyst Jason R. Mills downgraded Intuitive Surgical ISRG from Buy to Hold and lowered the price target from $527 to $444.

In the report, Canaccord Genuity noted, "However, Q2 results usurped our most bearish scenario; represented ISRG's worst system placement performance (-6% Y/Y) since the height of the financial crisis in Q3/09; and most notably, exhibited a significant deviation from historic growth trends – ISRG had reported system sales growth >15% for 9 consecutive quarters".

Intuitive Surgical closed on Monday at $500.08.

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Posted In: Analyst ColorDowngradesAnalyst RatingsCanaccord GenuityJason R. Mills
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