William Blair analyst Brandon Vazquez has maintained their bullish stance on ISRG stock, giving a Buy rating on August 22.
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Brandon Vazquez has given his Buy rating due to a combination of factors that suggest sustained growth for Intuitive Surgical. The company is benefiting from the expansion of after-hours procedures, which are still in early stages of adoption and represent a significant portion of the total addressable market. Additionally, international markets are expanding beyond urology into broader segments like general surgery, which has been a significant growth driver in the U.S. for years.
Another reason for the positive outlook is the anticipated increase in trade-ins for the DV5 system, both in the U.S. and internationally, which indicates strong demand. This upgrade cycle is expected to provide Intuitive with a substantial number of refurbished Xi systems, opening new markets and penetrating cost-sensitive areas. Despite potential risks such as increased competition and regulatory uncertainties, these factors are not currently impacting the business materially. Overall, the setup for durable profit and loss growth supports the stock’s positive rating.
In another report released on August 22, Piper Sandler also maintained a Buy rating on the stock with a $595.00 price target.