Intuitive Surgical Has A 'Multi-Year Growth Runway,' RBC Capital Says: What Are The Catalysts?

Intuitive Surgical, Inc. ISRG is a global leader in the robotic-assisted surgery market, which is not only large — it is estimated at more than $6 billion — but also the most underpenetrated and fastest-growing among the medical device sub-markets, according to RBC Capital Markets.

The Intuitive Surgical Analyst: Shagun Singh initiated coverage of Intuitive Surgical with an Outperform rating and a price target of $340.

The Intuitive Surgical Thesis: The company is “uniquely positioned for a multi-year runway of growth,” Singh said in the initiation note.

She explained that line-of-sight procedures had grown, and Intuitive Surgical is capable of driving penetration given its “technological leadership, diversified platform offerings (da Vinci, SP, ION), a well-entrenched ecosystem, and no major competition.”

The analyst expressed optimism around Intuitive Surgical being able to generate the “highest revenue growth in the RBC Large-cap MedTech Index and industry-leading OMs.”

ISRG Price Action via Benzinga Pro: Shares of Intuitive Surgical had risen by 1.56% to $285.46 at the time of publication Friday afternoon.

Photo: Courtesy Intuitive Surgical

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorHealth CareInitiationAnalyst RatingsTrading IdeasGeneralRBC Capital MarketsRoboticsShagun Singh
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!