Cantor Fitzgerald analyst Craig Bijou reiterated a Buy rating on Intuitive Surgical (ISRG) today and set a price target of $620. The company’s shares closed on Friday at $548.50.
Bijou commented:
“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 4-star analyst with an average return of 8.2% and a 62.7% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Integra Lifesciences, and Wright Medical Group.
Intuitive Surgical has an analyst consensus of Moderate Buy, with a price target consensus of $573.63, representing a 4.6% upside. In a report issued on February 13, Piper Jaffray also reiterated a Buy rating on the stock.
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Based on Intuitive Surgical’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $293 million. In comparison, last year the company had a GAAP net loss of $38.8 million.
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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. Its products include Da Vinci and Ion. The company was founded by Frederic H. Moll, John Gordon Freund, and Robert G. Younge in November 1995 and is headquartered in Sunnyvale, CA.
