Piper Sandler analyst Adam Maeder reiterates an Overweight rating on Intuitive Surgical after the company reported preliminary Q4 results. The sales performance was again solid, but fell a touch short of consensus estimates due to COVID-19 disruptions in China, Maeder tells investors in a research note. The analyst says both system placements and procedure volumes came in ahead of his expectations. While Intuitive’s 2023 procedure growth guidance of up 12%-16% came in a "hair lighter" than Maeder expected, the analyst senses management embedded in some conservatism. He remains constructive on Intuitive Surgical shares.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on ISRG:
- Intuitive Surgical sees Q4 revenue $1.66B, consensus $1.68B
- Intuitive Announces Preliminary Fourth Quarter and Full Year 2022 Results
- Intuitive Surgical price target raised to $298 from $235 at Barclays
- Intuitive Surgical named Top Pick for first half of 2023 at BTIG
- Intuitive Surgical price target raised to $320 from $265 at Argus