Intuitive Surgical (ISRG) Jumps On Bullish Analyst Call
ISRG Hot Sheet
Rating Summary:7 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 20 | Down: 11 | New: 38
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.
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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
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