BTIG Likes What It Saw At Intuitive Surgical Conference

In a note from research firm BTIG, Sean Lavin M.D provides insights from the Technology Forum hosted by Intuitive Surgical, Inc. ISRG.

"The event was oversubscribed: Since this conference is mainly attended by general surgeons, we see this attendance as a lead indicator for general surgery adoption which is likely being led by the new Xi. After attending this forum, we feel more confident in our recent upgrade

"For the first time, the moving Xi table was shown: We see this as key to general abdominal surgery as surgeons move patients to move the bowel out of their way

"For the first time, the full Sp system was shown in a video: This system will likely also allow for table movement and will probably allow a single surgeon cart to drive more than one patient side console adding efficiency.

"No timelines were given on the above, but we note that the company does not usually show products to surgeons long before launch

"New imaging agents (drugs) may help detect cancer:-This could add a new revenue stream to the company. The new visuals look very compelling,but are probably years away from FDA approvals."

BTIG has a Buy rating and $585 price target on Intuitive Surgical. Shares were up 2.7 percent at $490.67.