Cantor Fitzgerald Raises Numbers on Intuitive Surgical (ISRG)

December 4, 2012 7:45 AM EST
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Price: $658.04 -0.76%

Rating Summary:
    22 Buy, 10 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 22 | Down: 32 | New: 34
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Cantor Fitzgerald maintained a Hold rating on Intuitive Surgical (NASDAQ: ISRG) and raised its price target to $525.00 (from $475.00).

After meeting with management, analyst Jeremy Feffer said a key takeaway was that "Early experience with SILS cholecystectomies has seen procedure times of 70 minutes, making it well suited to the outpatient setting."

Management also acknowledged that it does not know when or where the bottom is in prostatectomies and expects further annual declines.

Finally, commenting on Firefly, Feffer said, "System ASPs have fluctuated quarter-to-quarter based on the changing mix of features included in units sold, but management is optimistic on the longterm Firefly opportunity, particularly with its value to partial nephrectomies and colorectal surgeries, among others."

For 2013, Cantor Fitzgerald raised EPS from $16.80 to $17.22. 2014 revenues and EPS estimates are $2,879 million and $19.86.

For an analyst ratings summary and ratings history on Intuitive Surgical (NASDAQ: ISRG) click here. For more ratings news on Intuitive Surgical click here.

Shares of Intuitive Surgical closed at $525.41 yesterday.

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