In a report released yesterday, Travis Steed from Bank of America Securities reiterated a Buy rating on Intuitive Surgical, with a price target of $650.00.
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.
Travis Steed has given his Buy rating due to a combination of factors including Intuitive Surgical’s strong Q2 performance, where the company exceeded expectations with a 17% growth in procedures and significant system placements globally. The operating margins reached a 15-quarter high, surpassing market expectations by 400 basis points, indicating strong financial health and operational efficiency.
Additionally, Intuitive Surgical’s strategic stock buybacks at prices higher than the current trading value demonstrate confidence in the company’s future prospects. The full launch of the dV5 system and the potential for opening new markets through redeployments further bolster the company’s growth outlook. These factors, combined with anticipated best-in-class EPS growth, underpin Steed’s positive outlook and Buy rating for the stock.
Steed covers the Healthcare sector, focusing on stocks such as Boston Scientific, Zimmer Biomet Holdings, and Intuitive Surgical. According to TipRanks, Steed has an average return of 6.1% and a 60.43% success rate on recommended stocks.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $595.00 price target.