Intuitive Surgical’s SP Stapler FDA Clearance Boosts Buy Rating: A Strategic Expansion in Thoracic and Colorectal Markets

In a report released yesterday, Larry Biegelsen from Wells Fargo maintained a Buy rating on Intuitive Surgical (ISRG – Research Report), with a price target of $687.00.

Larry Biegelsen has given his Buy rating due to a combination of factors surrounding Intuitive Surgical’s recent FDA clearance. The company received 510(k) clearance for its SP stapler, which is expected to significantly enhance the adoption of its SP platform in the U.S. market. This clearance is crucial as it pertains to both thoracic and colorectal procedures, areas where the company anticipates increased commercial activity.
Management has indicated that the SP stapler is essential for optimizing these procedures, and its introduction is likely to drive broader adoption of the SP system. The anticipated limited launch of the SP stapler in the coming months suggests a strategic push to expand its market presence. These developments highlight a positive outlook for Intuitive Surgical, supporting the Buy rating.