Truist Securities Starts Intuitive Surgical (ISRG) at Buy

Truist Securities analyst Richard Newitter initiates coverage on Intuitive Surgical (NASDAQ: ISRG) with a Buy rating and a price target of $360.00.

The analyst commented, "As the innovation leader in an expanding (underpenetrated) and rapidly growing robotic surgery category, ISRG should be well-positioned to deliver above-average mid-teens rev/profit growth and estimate upside into the out-yrs. A broadening set of procedure applications across ISRG's growing installed base of da Vinci (dV) & Ion systems generates >70% in annual recurring revenue. All this, plus $8.6B net cash (8% of mkt cap) should continue to set ISRG apart from large-cap peers and sustain a premium valuation."

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 $278.96 yesterday.

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