Intuitive Surgical Defended on Weakness Ahead of Presentation (ISRG)
Intuitive Surgical, Inc. (NASDAQ: ISRG) has been defended after recent weakness by an analyst call as the robotic daVinci surgical system maker was started as Outperform at William Blair.
Intuitive Surgical has seen its stock under fire because of its massive valuations and its stock performance through late 2007. Unfortunately when companies make a 20-fold run in a matter of a few years things have to change at some point. Its shares have fallen from a peak of $350.59 to around $270.00 of late. In short, they have lost one-quarter of their value. Its market cap is still over $10 Billion and its forward estimated P/E ratio for 2008 is north of 50.0 in an uncertain environment. The company is also presenting at a Needham & Co. conference today at 2 PM EST.
Shares have not traded that much in pre-market trading, but indications are up around $273.00 after a $270.27 close yesterday.
Jon Ogg
June 11, 2008