Investors Yawn at Latest Citron Jab, Send Intuitive Surgical Shares Up
Investors ignore a 3rd negative report from short-seller Citron Research on medical device company Intuitive Surgical, sending shares up slightly today.
Investors, who sent shares of Intuitive Surgical (NSDQ:ISRG) down 10% the 1st time Citron Research issued a negative report on the medical device company, yawned today at a 3rd missive from the short seller.
ISRG shares were up slightly as of about 3:30 p.m. today to $561.07 apiece, despite Citron's repeated assertion that the stock is headed for $300 per share.
Citing a study and accompanying editorial published yesterday in the Journal of the American Medical Assn. questioning whether robot-assisted hysterectomy using a device like Intuitive's da Vinci surgical robot is worth its extra cost, the latest Citron broadside warns investors that the stock is significantly over-valued.