Wedbush Assumes Outperform On Intuitive Surgical, Sees %30 Upside
In a research report published yesterday, Wedbush analyst Tao Levy maintained an Outperform rating on Intuitive Surgical (ISRG) with $500 price target, which represents a potential upside of 30% from where the stock is currently trading.
Levy wrote, “While still early in the launch, momentum for new da Vinci Xi system installs appears to be steadily gaining some traction, which would be in line with our checks that suggest there is significant interest in the technology, but it has come down to finding the budget to pay for the system. Over the last several weeks we have increasingly run across hospitals announcing that they are the “first in the state” to offer the da Vinci Xi (e.g., Oregon, New York, Arizona, Kentucky”. Levy continued, “We view both developments from St. Peter’s Hospital as a positive: 1) a hospital is spending $2.6 million on new da Vinci systems; 2) the Xi is helping with the upgrade cycle”.
According to TipRanks.com, which measures analysts and bloggers success rate based on how their calls perform, analyst Tao Levy has a 24.4% average return and a 65% success rate. Levy has a -3.7% average return when recommending ISRG, and is ranked #287 out of 3215 analysts.