Intuitive Surgical (ISRG) Received its Third Buy in a Row

After Piper Jaffray and Citigroup gave Intuitive Surgical (NASDAQ: ISRG) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Craig Bijou reiterated a Buy rating on Intuitive Surgical today and set a price target of $620. The company’s shares opened today at $501.

Bijou said:

“We reiterate our Overweight rating and a 12-month price target of $620 on shares of ISRG. The acceleration of the installed base and procedure growth over the last year demonstrate clear momentum in the business. We think U.S. hernia repair and other U.S. general surgery procedures are only at the early stages of adoption and should provide meaningful incremental procedure growth for the next several years. Internationally, we expect sustainable 20+% procedure growth as countries expand the types of robotic procedures and overall greater robotic acceptance increases.”

According to TipRanks.com, Bijou is a 1-star analyst with an average return of -2.4% and a 40.8% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Ra Medical Systems Inc, and Integra Lifesciences.

Currently, the analyst consensus on Intuitive Surgical is a Strong Buy with an average price target of $603.13, implying a 20.4% upside from current levels. In a report issued on January 2, Citigroup also maintained a Buy rating on the stock with a $560 price target.

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The company has a one-year high of $581.12 and a one-year low of $380. Currently, Intuitive Surgical has an average volume of 896.7K.

Based on the recent corporate insider activity of 89 insiders, corporate insider sentiment is negative on the stock.

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Intuitive Surgical, Inc. engages in the development, manufacture, and marketing of da Vinci Surgical Systems, and related instruments and accessories for invasive surgery. The company was founded by Frederic H. Moll, John Gordon Freund, and Robert G. Younge in November 1995 and is headquartered in Sunnyvale, CA.