Leerink Partners Raises Price Target on Intuitive Surgical (ISRG) to $710 Following Strong 1Q
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Rating Summary:
27 Buy, 9 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 7 | Down: 11 | New: 1
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Leerink Partners reiterated an Outperform rating on Intuitive Surgical (NASDAQ: ISRG), and raised the price target to $710.00 (from $700.00), following the company's 1Q earnings report. ISRG reported revenue results of $595M, slightly ahead of consensus' $591M. EPS also beat consensus with $4.42, compared to $4.33.
Analyst Richard Newitter commented, "Procedure growth acceleration remains a central underpinning to our OP rating, where 1Q outperformance (+17% vs. +12% consensus) was most prominent, complemented by GM upside, and in-line system adds. Improving procedure growth outlook & new product cycle momentum nearer term (Xi, Stapler, table motion) & beyond (Sp, advancing visualization capabilities, new approvals in Japan) increase our confidence that LT sales/EPS growth drivers are intact even as near-term R&D investment steps up a bit. Reiterate OP. PT to $710 (from $700) on higher '17E & cash/shr."
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 $623.71 yesterday.
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