Analyst Says Japanese Reimbursement for Intuitive's (ISRG) da Vinci to Begin in April

Shares of Intuitive Surgical (Nasdaq: ISRG) appear to be breaking out following an intraday research note from Collins Stewart which suggests the Japanese Ministry of Health indicated the da Vinci prostatectomy is scheduled to be reimbursed beginning in April 2012.

Collins Stewart also noted "management indicated that this would represent widespread reimbursement for dVP and is not restricted to just the 5 centers currently obtaining reimbursement."

The firm reiterated a Buy rating and $515 price target on Intuitive shares.

The stock is now trading at a new all-time high. Shares last traded at $484.91, up nearly 5 percent from Wednesday's close.

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