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Why Intuitive Surgical Stock Tumbled Today
The downgrading analyst was Citigroup prognosticator Joanne Wuensch, who cut her recommendation to neutral from a buy, while maintaining a price target of $1,100 per share. In her research note, Wuensch cited CEO Marshall Mohr’s recent remarks about the effect of the coronavirus delta variant on the company’s business. Particularly in delta hot spots like Florida and Texas, where hospitals are at or approaching capacity, certain surgical procedures unrelated to the coronavirus are being postponed.
