Leerink Partners analyst Mike Kratky has reiterated their bullish stance on ISRG stock, giving a Buy rating yesterday.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Mike Kratky has given his Buy rating due to a combination of factors that highlight Intuitive Surgical’s strong performance and growth potential. The company reported a solid quarter with sales and earnings per share exceeding consensus estimates by 4% and 14%, respectively. This performance was driven by robust revenue growth across all segments and a notable increase in da Vinci system placements in the U.S.
Additionally, Intuitive Surgical’s worldwide procedure growth surpassed expectations, and the company raised its full-year guidance for procedure growth and gross margin. Despite some mixed reactions from the market, possibly due to slightly lower system placements outside the U.S., Kratky remains optimistic about the company’s commercial execution and multiple growth drivers. He has also increased the earnings per share estimates for the upcoming years, reflecting confidence in the company’s ability to sustain its momentum. Consequently, the price target has been adjusted upwards, reinforcing the Buy rating.
In another report released yesterday, Bernstein also maintained a Buy rating on the stock with a $685.00 price target.