Intuitive Surgical downgraded to Hold from Buy at Cantor Cantor Fitzgerald downgraded Intuitive Surgical citing valuation with the stock up 18% year-to-date. Cantor says the Veteran's Administration procurement is an incremental positive, but it prefers to move to the sidelines pending greater clarity on Intuitive's reacceleration of revenue growth in 2015. The firm keeps a $450 price target for shares, which closed yesterday up $9.01 to $453.84.
Intuitive Surgical contract with VA eliminates hurdles, says SunTrust SunTrust says Intuitive Surgical's $142M award notice from Veteran's Affairs eliminates hurdles that previously made procurement of the company's systems by the VA challenging and time consuming. The VA system currently has only 38 da Vinci robots and SunTrust speculates that 40-50 systems could be purchased within the VA during the first year of the contract. SunTrust has a Buy rating on Intuitive Surgical.