In a report published Friday, Cantor Fitzgerald Upgraded shares of Intuitive Surgical ISRG and raises price target to $575 on attractive risk reward profile.
Cantor Fitzgerald said that, “While we certainly understand investor concern over the
words "FDA Probe," we see limited risk of this investigation materializing
into significant punitive measures against the company. The main criticisms of
dVH have not been safety-related but have rather focused on its higher cost
relative to outcomes that are equivalent to laparoscopic. But because da Vinci is
typically used in more complex cases, the more appropriate comparison is with
open surgeries, against which da Vinci has superior outcomes and much lower
complication rates. Compared to the >520k dVH procedures in the U.S. over
the last five years, the ~10 dVH-related civil suits filed against Intuitive actually
speaks well of the company's safety record, in our view.”
Intuitive Surgical shares closed at $509.89 on Thursday.
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