Intuitive Surgical shares are down more than -18% after an surprise revenue warning and a barrage of downgrades.
Wednesday afternoon after the company announced it was projection $575 million in Q2 revenues against $630 million estimates.
Today, Goldman Sachs, JMP Securities, Raymond James, and Canaccord Genuity each downgraded the stock to “Hold” or its equivalent, Barrons’ Teresa Rivas says.
She notes Cowen and Co. wrote the robotic surgery industry is facing huge cost pressures.
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