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Intuitive Surgical target upped to $830 by Barclays

April 18, 2017

Barclays raised its price target on Intuitive Surgical (NASDAQ: ISRG) to $830.00 (from $800.00) while maintaining a Overweight rating following a survey of 50 US OB/GYNs to understand hysterectomy trends, which remains an important business for ISRG (32% of WW procedures).

Analyst Matthew Taylor notes U.S. ISRG gynecology procedures grew 3% in 2016, a figure the company expects to maintain over time, while the survey suggests a continuation of growth in robotic surgeries in the GYN space, above low expectations, resulting in an increase in estimates.

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