Intuitive Surgical, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Lee Hambright from Bernstein maintained a Buy rating on the stock and has a $685.00 price target.
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Lee Hambright has given his Buy rating due to a combination of factors that suggest potential growth for Intuitive Surgical. Despite a recent decline in share prices, the company’s performance in 2024 was notably strong, with a 55% return. This has set a low bar for expectations, which could lead to positive surprises in upcoming quarters.
Furthermore, the launch of the da Vinci 5 system in the U.S., along with recent approvals in Japan and Europe, is expected to boost placement numbers. The fading impact of previous challenges, such as physician strikes in Korea and declines in U.S. bariatric procedures, also supports a positive outlook. Additionally, the company’s strong position in the growing market of robotic-assisted surgery, coupled with ongoing product innovations, reinforces the Buy rating with a price target of $685.
In another report released on October 15, Truist Financial also maintained a Buy rating on the stock with a $525.00 price target.