Truist Securities Reiterates Buy Rating on Intuitive Surgical (ISRG)
Truist Securities analyst Richard Newitter reiterated a Buy rating and $570.00 price target on Intuitive Surgical (NASDAQ: ISRG).
The analyst comments "ISRG delivered 3Q rev/EPS upside as growth accelerated both on sales & EPS. The qtr saw a big US system beat (incl 110 D5 vs our 78 est), procedure upside (18% y/ y vs. ~17% CNS, helped by an extra sell-day), & mgn overage, which translated to +26% EPS y/y. D5 upside in its 'soft launch' is particularly encouraging & increases our confidence in further est. upside /growth accel. into '25 (full-launch planned mid-next yr). ISRG remains a preferred lgcp delivering mid-to-high teens+ rev/EPS growth & one of the more exciting prod cycles in MedTech that shld sustain an already substantial lead in a big/underpenetrated robotic oppty. Reit. Buy "
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Shares of Intuitive Surgical closed at $473.73 yesterday.