Intuitive Surgical (ISRG) Jumps On Bullish Analyst Call
More News related to ISRG
- ATS Medical's (ATSI) ATS 3f Aortic Bioprosthesis Inserted with Assistance from Intuitive Surgical's (ISRG) DaVinci Robot
- ATS Medical Announces First in World Human Robotic Endoscopic Aortic Valve Replacement
- Intuitive Surgical (ISRG) CEO Smith to Transition to Charman; Guthart Will Takeover as CEO
- Intuitive Surgical Announces Transition of Gary Guthart to CEO
- Highlights From ISRG's Q3 Conference Call: Total Revenues Grew 16%; 1,308 Da Vinci's Installed Worldwide
Shares of Intuitive Surgical, Inc. (NASDAQ: ISRG) are seeing a nice push higher today, climbing 6.6%, after analysts at Needham & Co got bullish on the maker of robotic surgery equipment.
Needham's Medical Devices and Diagnostics Analyst Sameer Harish
upgraded the stock and raised 2009 estimates to reflect additional da Vinci Si sales and accelerated deferred revenue recognition of systems sold in 1Q09. The firm's 2009 revenues and EPS to $891M and $4.63 from $878M and $4.49, previously.
The firm said deferred revenues associated with the da Vinci Si upgrade program to boost 2Q09
revenues and EPS. ISRG deferred $20.1M from 1Q09 in association with the da Vinci Si upgrade program.
Needham also said checks with hospitals shows that roughly 29% of hospitals expect to purchase an additional da Vinci system within a two year time frame. The firm surveyed 60+ hospital CEO and CFOs.
The firm set an aggressive $180 price target on ISRG, which is based upon 25x their 2010 EPS estimate of $7.06.
Real-Time Market Moving News Two-Weeks FREE http://www.streetinsider.com/premium_content.php
Related Categories
Insiders' BlogUpgrades
Stocks Mentioned
-3.91Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
