Lazard Defends Intuitive Surgical Following Warning from ACOG President
Lazard's Sean Lavin earlier issued some comments which may give some reassurance to investors in Intuitive Surgical (NASDAQ: ISRG).
Following a sharp move lower on Thursday amid a concerning article from the American Congress of Obstetricians and Gynecologists, Lavin is suggesting the piece contained "factually false statements."
ACOG President James Breeden warned that robotics systems like Intuitive's Da Vinci are expensive but do not always offer vast improvements. He also suggested aggressive marketing could potentially lead consumers.
Lavin pointed out this view may be the view of solely Breedens -- not necessarily the view of the Congress. The analyst said while the report may cause a few hospital heads to attempt to reduce or stop robotic surgeries for benign hysterectomies, a portion of gynecologists are not skilled enough to offer transvaginal or laparscopic hysterectomies.
Related to Intuitive Surgical's recent reporting changes, Lavin called these adjustments "likely immaterial."
Lazard maintains a Buy rating and $625 price target on shares of Intuitive Surgical.
The stock is continuing lower Friday afternoon, currently down more than 5 percent to just over $464.
Latest Ratings for ISRG
|Oct 2016||Wells Fargo||Initiates Coverage On||Outperform|
|Aug 2016||Raymond James||Initiates Coverage on||Outperform|
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