Leerink Partners Weighs in on Intuitive Surgical (ISRG) Following ROLARR Data

Leerink Partners analyst Richard Newitter weighed in on Intuitive Surgical (NASDAQ: ISRG) as ROLARR data was just presented at ASCRS in Boston, and represents the first randomized trial in robotics to date in colorectal.

Newitter commented, "At a high level, the data failed to meet stat significance (SS) vs. lap in its primary endpoints, but it did show improved lower conversion rates as well as improved outcomes in certain subgroups (males, high BMI)--albeit not SS--that were supportive of robotics. Overall our initial discussion with docs at the conference suggest the data is “not bad” and still supportive of robotics in rectal resections. There is still much debate over robotics, and the trial did little to address cost-benefit. Still with investors nervous (and the stock weak) heading into this data we're inclined to think that the takeaway --- at least for now on our initial gauge on doc reaction --- will be "less bad than feared." The case for robotics in hard-to-perform rectal cases where traditional MIS penetration is extremely low (~10%) remains strong, in our view. The ROLARR data seems unlikely to meaningfully shift this view based on our preliminary discussions. We continue to believe rectal surgery can continue to be an important procedure volume growth driver for ISRG."

The firm maintained an Outperform rating and price target of $590 on the stock.

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 $487.75 yesterday.

You May Also Be Interested In

• Intuitive Surgical (ISRG) April option implied volatility into quarter results
• Morgan Stanley Assumes Bumble Inc. (BMBL) at Equalweight
• Wolfe Research Downgrades Williams Companies (WMB) to Underperform