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EARLIER: Leerink Boosts Intuitive Surgical Price Target 32%

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Leerink boosted the price target for shares of Intuitive Surgical (NASDAQ: ISRG) from $420 to $555.

Analyst Richard Newitter is bullish on “ISRG's gen surgery penetration prospects (particularly Colorectal) in light of positive feedback on the just-released Xi system.”

Newitter's price target bump is on “now higher 2015 estimates and assuming ISRG sustains a premium valuation vs large-cap MedTech given a monopoly position in robotics.”

“Xi has potential to help re-accelerate system sales growth in 2015 and beyond and to drive higher da Vinci penetration in complex cases -- most notably in colorectal surgery,” according to the analyst.

Newitter lays out two points for investors to focus on going forward on Xi:

  • ”Whether Xi and new features in the works (like advanced single-site) are “must-haves” that will inevitably prompt a widespread replacement cycle.”
  • ”The extent to which multi-quadrant surgery and the promise of more advanced single-site capabilities will drive penetration into other gen surgery areas.”

The stock finished down 1.45 percent to $489.84 in Tuesday's trading.

Latest Ratings for ISRG

DateFirmActionFromTo
Oct 2014Northland SecuritiesUpgradesUnderperformMarket Perform
Oct 2014BTIG ResearchUpgradesNeutralBuy
Oct 2014Leerink SwannUpgradesMarket PerformOutperform

View More Analyst Ratings for ISRG
View the Latest Analyst Ratings

Posted-In: Leerink Richard NewitterAnalyst Color Analyst Ratings

 

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