Intuitive Surgical Shares Downgraded To Neutral At BTIG

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BTIG issued a note on Intuitive Surgical Inc. ISRG after recent analysis showed limited share appreciation in the near term due to a high valuation. Analysts downgraded Intuitive Surgical to Neutral while a price target is currently unavailable.

Analysts Sean Lavin and Karen Koski wrote, "We remain positive on the core business model and believe that the company should remain fairly insulated from competition in the near-to-intermediate term. That said, shares have reached an all-time high and we think strong results are now being fairly valued."

Analysts gave one key reason why they see strength in Intuitive Surgical: Strong business performance.

BTIG highlighted that Intuitive Surgical reported over 15 percent procedure growth in the second half of 2015. Analysts believe the recent share price appreciation has reflected this business performance. Going forward BTIG believes Intuitive Surgical can continue to drive revenue and profit growth as demand has the potential to increase for its surgical products.

BTIG has modeled $2.67 billion in revenue and $22.21 EPS for the 2016 fiscal year.

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Posted In: Analyst ColorDowngradesAnalyst RatingsBTIG ResearchKaren KoskiSean Lavin
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