Goldman Sachs Suggests Positioning For Downside in ISRG

Goldman Sachs is out with an analyst note this morning, where it suggests that investors position for downside in Intuitive Surgical, Inc. ISRG by buying 1x2 put spreads. The report noted that Goldman Sachs Medical Devices analyst, David Roman, Rates ISRG Sell and sees 22% downside to his $220 12-month price target. He also expects the company to disappoint with its full year 2011 revenues and EPS, where he is 4% below consensus on both. The GS analysts suggest playing this thesis by buying the January $280/250 1x2 put spread for $7.30.