UPDATE: Goldman Sachs Raises PT to $412 on Intuitive Surgical

A report from Goldman Sachs reiterates its Neutral rating and raises its price target from $362 to $412 on Intuitive Surgical (NASDAQ: ISRG).

In the report, Goldman Sachs writes, “The quarter's results continue to demonstrate solid underlying demand for daVinci surgical robots even in the face of what appears to be a tough capex environment and channel checks suggesting high-end equipment remains a low priority for hospitals. In addition, management continues to cite strength in new procedure categories providing growth in disposable revenues that has the potential to support long-term growth above current expectations."

ISRG closed yesterday at $382.76.