Leerink Partners Raises Price Target on Intuitive Surgical (ISRG) Following 4Q Pre-Announcement

Leerink Partners reiterated an Outperform rating on Intuitive Surgical (NASDAQ: ISRG), and raised the price target to $640.00 (from $600.00), following the company's 4Q pre-announcement. The announcement is showing above consensus results, led by system placement outperformance and dd procedure growth.

Analyst Richard Newitter commented, "ISRG preannounced above consensus 4Q led by system placement outperformance and dd procedure growth. Procedure guidance for 2016 of 9-12% captures consensus on the high-end, and we view this as conservative and setting up for potential beats. We continue to see key drivers in place for outperformance (i.e., accelerating procedure growth, new product cycles, and expansion into general surgery) and reiterate OP. PT to $640 as we roll forward to 2017E."

For an analyst ratings summary and ratings history on Intuitive Surgical click here. For more ratings news on Intuitive Surgical click here.

Shares of Intuitive Surgical closed at $542.12 yesterday.

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