Barclays analyst Matt Miksic raised the firm’s price target on Intuitive Surgical to $298 from $235 and keeps an Overweight rating on the shares. The macro backdrop remains challenging for medical supplies and devices and the timing for improvements in inflationary pressures, supply chain issues and hospital staffing challenges is uncertain, Miksic tells investors in a research note. However, the analyst remains "generally constructive" on the sector, seeing improving volume trends, stable staffing challenges, and "potentially stabilizing" supply chain and inflationary cost trends. He continues to favor names with operating leverage or "discontinuous and favorable tailwinds, as they are generally better positioned to weather higher input costs."
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on ISRG:
- Intuitive Surgical named Top Pick for first half of 2023 at BTIG
- Intuitive Surgical price target raised to $320 from $265 at Argus
- Intuitive Surgical price target raised to $318 from $245 at Citi
- Intuitive Surgical to participate in a conference call with Bernstein
- Intuitive Surgical price target raised to $316 from $247 at BTIG