WALL STREET STOCK COMMENTS
When an analyst upgrades a stock, it’s time to pay attention. Especially if it comes from a top-performing analyst. So it’s no surprise that robotic surgery stock Intuitive Surgical, Inc. (ISRG – Research Report) has caught the eye. The stock has just received an upgrade from five-star Canaccord Genuity analyst Jason Mills (Track Record & Ratings). TipRanks reveals that is a Top 25 analyst, for his savvy stock picking ability:
Following the move, ISRG now boasts 8 recent buy ratings from top analysts. This is versus just 1 hold rating. We can also see that this comes with a $618 average analyst price target (19% upside potential). Bear in mind shares are up 42% year-to-date, and 8% in the last five days alone.
View ISRG Price Target & Analyst Ratings Detail
Remember, this is the company behind the groundbreaking Da Vinci robotic system. The system has already brought minimally invasive surgery to more than 3 million patients worldwide. It allows the surgeon’s hand movements to be translated into smaller, precise movements of tiny instruments inside the patient’s body.
The analyst comments “While valuation is not cheap, it has moderated materially in this latest market downdraft. Importantly, we think the robotics revolution, which ISRG looks primed to continue to lead via massive investment in next-generation technology, is actually gaining momentum.”
Mills concludes: “We would accumulate shares notwithstanding expected strength in the stock on the heels of its robust Q3 print.” He has a $610 price target on the stock.
China Opportunity Confirmed
Also worthy of note is the recent announcement from the Chinese Ministry of Health that it will issue licenses for 154 new surgical robots between now and the end of 2020. However, this could take time: hospitals still must undergo a tender process and receive approvals before sales.
