Intuitive Surgical (ISRG): Checks Indicate Longer Tail On dv Hernia Than Originally Thought - Leerink
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Leerink Partners analyst, Richard Newitter, reiterated his Outperform rating on shares of Intuitive Surgical (NASDAQ: ISRG) after checks indicated dv Hernia is still on the steep part of the adoption curve.
This weekend the analyst attended the 2nd Annual Global Symposium on Robotic-Assisted and Minimally Invasive Hernia Repair in NYC. The analyst left incrementally more positive on the adoption outlook for ISRG’s robotic (dv) hernia category and has increased confidence that dv Hernia can remain a growth engine and (upside driver) for ISRG’s gen surgery division, especially given low current robotic penetration at < 5% and overall Minimally Invasive Surgery (MIS) hernia penetration is still just at ~25%.
Despite the positive implications of the announcement there is no change to the price target of $780.
Shares of Intuitive Surgical closed at $686.37 yesterday.
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