Evercore ISI Weighs In on Intuitive Surgical (ISRG) Following Q4 Update

Evercore ISI analyst Vijay Kumar weighed on Intuitive Surgical (NASDAQ: ISRG) after today's pre-announcement heading into the JP Morgan conference, saying the numbers have enough talking points for both the bulls and the bears.

Kumar said the procedure guidance range for FY15 is likely conservative given the volatility of volumes the past few quarters. He was not surprised that the company did not guide to total revenues given the volatility in systems placements. However, the improvement in hospital CapEx environment and big sequential step-up in Xi systems bodes well.

The Instrument & Consumable revenue per procedure declined YoY and sequentially, and the firm is curious as to what drove the weakness.

"From our perspective, the underlying strength in 4Q from a systems and procedure volume perspective reaffirms our turnaround thesis, and causes us to reiterate our Buy rating," he said. The firm also maintained a price target of $560.

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 $525.51 yesterday.

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