Intuitive Surgical (ISRG) Reiterated at Buy by Stifel After Survey of 100 Robotic Surgeons

Stifel analyst Rick Wise reiterated a Buy rating and $670.00 price target on Intuitive Surgical (NASDAQ: ISRG).

The analyst commented, "For the first time in over 20 years, US robotic surgery competitive dynamics are profoundly changing...now shifting to a multi-vendor market from, historically, a near-monopoly. To better understand how this transformation potentially could impact Intuitive's market share position and competitive moat, we surveyed 100 practicing robotic surgeons across multiple clinical specialties. Other key topics surveyed include: impact of Intuitive's recently accelerated innovation cadence; gauging surgeons' adoption and interest in deploying AI in surgical care; as well, surgeon interest in and adoption of remanufactured instrumentation. Bottom line: surgeon survey responses were largely positive for Intuitive and left us more confident about the company's competitive positioning. Recently announced DV5 updates also are seen as helping differentiate and clearly improve the DV5, in these surgeons' view. Still, in line with historical physician commentary, the surgeons also noted that lower system prices and instrument ASPs are the number one limitation for greater robotic adoption."

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 $407.12 yesterday.

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