Investment analysts at JPMorgan Chase (NYSE: JPM) lifted their target price on shares of Intuitive Surgical (NASDAQ: ISRG) to $570.00 in a note issued to investors on Wednesday.
The analysts wrote, “We recently surveyed general surgeons (n=28) to gauge interest in the use of da Vinci for new indications, beyond the early successful foothold in prostatectomy and hysterectomy. The results were more positive than we had anticipated, and point to the likely rapid and significant conversion of several large general surgery markets, notably, colorectal and cholecystectomy (i.e. gall bladder). We look for additional clinical feedback at the ASCRS meeting next week.”
Shares of Intuitive Surgical traded up 0.69% during mid-day trading on Wednesday, hitting $531.55. Intuitive Surgical has a 52 week low of $320.00 and a 52 week high of $594.89. The company has a market cap of $21.104 billion and a P/E ratio of 39.89.
Intuitive Surgical last issued its quarterly earnings data on Tuesday, April 17th. The company reported $3.50 earnings per share for the quarter, beating the analysts’ consensus estimate of $3.15 by $0.35. Intuitive Surgical’s revenue was up 27.6% compared to the same quarter last year. On average, analysts predict that Intuitive Surgical will post $3.63 earnings per share next quarter.
A number of other firms have also recently commented on ISRG. Analysts at Stifel Nicolaus raised their price target on shares of Intuitive Surgical to $570.00 in a research note to investors on Wednesday. Separately, analysts at Raymond James (NYSE: RJF) initiated coverage on shares of Intuitive Surgical in a research note to investors on Wednesday, April 25th. They set an “outperform” rating on the stock. Finally, analysts at Zacks upgraded shares of Intuitive Surgical from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, April 19th. They now have a $701.00 price target on the stock.
Intuitive Surgical, Inc. (Intuitive) designs, manufactures and markets da Vinci Surgical Systems and related instruments and accessories.
