Analyst Update: 8x8, Inc., Intuitive Surgical, Inc., and LDR Holding Corp

Analysts adjusted their ratings on 8x8, Inc. (EGHT), Intuitive Surgical, Inc. (ISRG), and LDR Holding Corp (LDRH)

by Alex Eppstein

Published on Jan 22, 2016 at 2:14 PM

Analysts are weighing in today on communications concern 8x8, Inc. (NASDAQ:EGHT), as well as medical equipment designers Intuitive Surgical, Inc. (NASDAQ:ISRG) and LDR Holding Corp (NASDAQ:LDRH). Here's a quick roundup of today's brokerage notes on EGHT, ISRG, and LDRH.

  • EGHT is blowing up this afternoon, after the company's earnings beat and upbeat guidance prompted a trio of analysts to lift their price targets on the stock. Specifically, Northland Capital and Craig-Hallum boosted their price targets to $14, while Barclays raised its own outlook to $12, sending the shares 12.2% higher to hover near $12.52. In fact, 8x8, Inc. earlier hit a 15-year peak of $13.65. Short-term speculators could be spooked. EGHT's Schaeffer's put/call open interest ratio (SOIR) sits at an annual high of 1.42, meaning speculators targeting options in the front three-months' series have rarely been so put-centric.

  • ISRG is up 1.6% at $564.41 -- and fresh off a nearly three-year high of $580 -- powered by a fourth-quarter earnings beat and a $25 price-target hike to $600 at BTIG. This is more of the same for a stock that's outperformed the broader S&P 500 Index (SPX) by 24 percentage points during the past three months. Meanwhile, Intuitive Surgical, Inc.'s bullish bandwagon has gotten crowded. Two-thirds of covering analysts rate the shares a "buy" or better, with not a single one sporting a "sell" recommendation. Plus, ISRG's consensus 12-month price target of $619.94 stands in territory never before charted.

  • LDRH received a downgrade to "market perform" from "outperform" at Wells Fargo, which cited a slower near-term adoption rate for the company's two-level cervical disk replacement (CDR), based on a survey of spine surgeons. As such, the shares have tumbled more than 11% to trade at $19.07, and are fresh off a two-year low of $18.69. Additional downgrades could be coming, unless LDR Holding Corp turns things around quickly. After all, seven of eight analysts currently rate the shares a "buy" or better, with not a single "sell" opinion to be found.
For other stocks in analysts' crosshairs, read Analyst Upgrades: Apple Inc., First Solar, Inc., and Starbucks Corporation and Analyst Downgrades: American Express Company, Skechers USA Inc, and Alibaba Group Holding Ltd.

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