Intuitive Surgical sell-off continues after website pans stock

theflyonthewall.com

Intuitive Surgical (ISRG), which develops a robotic surgery tool, is retreating for a second day after short selling website Citron Research yesterday predicted that the stock would fall to $350 in the near term from its current price of about $500. Intuitive Surgical has a history of making "unjustified" claims about its products, and there is no clinical evidence that its device produces better outcomes, according to Citron. Moreover, the company is facing increasing legal liability, as sentiment towards robotic surgery deteriorates, Citron claims. The company's shares are poised to sink to $250 in 18 months, the website added. In mid-morning trading, Intuitive Surgical fell $13.89, or 2.69%, to $501.57. The stock closed at $546.52 on Tuesday, the day before Citron Research's article was published.

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