EARLIER: Leerink Boosts Intuitive Surgical Price Target 32% - Intuitive Surgical (NASDAQ:ISRG)

Leerink boosted the price target for shares of Intuitive Surgical

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.

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