Canaccord Genuity Maintains a 'Hold' on Intuitive Surgical (ISRG); Q1 Should Beat, But Valuation Fully Accounts For Strong Growth

April 16, 2012 8:34 AM EDT
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Price: $664.71 --0%

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Canaccord Genuity maintains a 'Hold' on Intuitive Surgical (NASDAQ: ISRG).

Analyst, Jason R. Mills, said, "We expect ISRG to report Q1 results in line with our estimates and beat what we see as an acquiescent consensus. Based on performance over the past two years, investors have come to expect upside to stated guidance. While we think ISRG could see macro-driven weakness in Europe in 2012, the company has several new product “greenfields”– not to mention new geographic opportunities (i.e. Japan) ”– that provide a range of potential growth opportunities in 2012, in our view."

"We model Q1/11 sales of $476.2M (+23% Y/Y) with Systems of $198.0M (+19% Y/Y), Instruments of $201.5M (+28% Y/Y) and Service of $76.7M (+21% Y/Y). Consensus is at $463.8M...We model Q1 EPS of $3.54 (+37% Y/Y) and operating income of $188M (OM of 39.4%). Consensus EPS stands at $3.14."

For an analyst ratings summary and ratings history on Intuitive Surgical click here. For more ratings news on Intuitive Surgical click here.

Shares of Intuitive Surgical closed at $546.56 yesterday.

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