Intuitive Surgical Clobbered On Mounting Expenses As J&J, Medtronic Loom

Intuitive Surgical (ISRG) lost more than $2 billion of its market cap Friday after the robotic surgery giant said its operating expenses would grow 20%-28% in 2019.

Intuitive is working to fend off Medtronic (MDT) and Johnson & Johnson (JNJ), Evercore analyst Vijay Kumar said.