FDA Form 483 on Intuitive Surgical (ISRG) is 'Benign' - Canaccord Genuity

Canaccord Genuity reiterated a Buy rating and $527 price target on Intuitive Surgical (NASDAQ: ISRG) Wednesday amid the Form 483 filing from the FDA saying it is benign.

Canaccord Genuity analyst Jason Mills said "Based on our conversations with management last night, we believe the objections listed on the Form 483 are primarily administrative in nature, do not reflect any safety concerns with the da Vinci surgical system, and will not likely pose any material impact to the business."

Mr. Mills added. "What's more, based on our discussions with management last night, we believe management has thoroughly addressed each observation. We would be buyers of the stock on any weakness relating to this Form 483."

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 $501.70 yesterday.

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