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Bank Of America Impressed By Intuitive Surgical Following Congress


Bob Hopkins of Bank of America attended the AAGL 2014 Global Congress on Minimally Invasive Gynecology last week and were impressed with the feedback received by Intuitive Surgical, Inc. (NASDAQ: ISRG).

Hopkins notes that feedback on Intuitive Surgical's new wristed, single-site needle driver was "more positive than we expected" and could drive robotic single-site hysterectomy procedures. The analyst adds that it's evident surgeons have wanted wristed functionally since 2013 and the lack of having the functionality has been a limiting factor preventing surgeons from adopting a single site.

Hopkins also notes that there appears to be even more functionality coming to improve single-site hysterectomy based on discussions with surgeons and hints from sales representatives that new instruments will be forthcoming.

However, Hopkins states that based on further conversations, macro-headwinds impacting GYN surgical volumes have not "materially changed," but new technology in robotics should drive penetration higher.

Shares of Intuitive Surgical are Buy rated with a $550 price target.

Latest Ratings for ISRG

Apr 2021CitigroupInitiates Coverage OnBuy
Mar 2021Piper SandlerMaintainsNeutral
Jan 2021Raymond JamesMaintainsOutperform

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Posted-In: AAGL Congress Bob Hopkins GYN Surgical Intuitive SurgicalAnalyst Color Price Target Analyst Ratings

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