Vicarious Surgical, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Josh Jennings from TD Cowen maintained a Buy rating on the stock and has a $13.00 price target.
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Josh Jennings has given his Buy rating due to a combination of factors including the strategic leadership change at Vicarious Surgical. The appointment of Stephen From as the new CEO, who brings extensive experience in the healthcare and financial sectors, is seen as a positive development. His previous success in leading companies through significant milestones such as initial public offerings and acquisitions adds confidence in his ability to guide Vicarious Surgical through its current phase.
Furthermore, the strategic shift in priorities outlined by the new CEO, focusing on completing a fully integrated, production-equivalent system before initiating clinical testing, is viewed as a prudent allocation of resources. This approach is expected to enhance the company’s long-term development prospects, making it a more attractive investment opportunity. Jennings believes that these strategic decisions position Vicarious Surgical well for future growth, justifying the Buy rating.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RBOT in relation to earlier this year.