Intuitive Surgical lowered 2014 procedure growth outlook to 2%-8% Intuitive Surgical on its earnings conference call last night lowered its 2014 procedure growth guidance to 2%-8% from 9%-12%. The company said, "This is a wider range than we have previously communicated, giving consideration to increased volatility in elective procedures and the recent FDA statement discouraging the use of power morcellation techniques and the potential impact this may have on our procedure business."
Intuitive Surgical initiated with an Overweight, $575 target at Barclays Barclays analyst Matthew Taylor started shares of Intuitive Surgical with an Overweight rating and $575 price target. Taylor thinks surgery share will continue to shift to robotic and believes demand for Intuitive's da Vinci among general surgeons is very high. The stock closed yesterday down $4.17 to $492.45.