Shares of Intuitive Surgical (NASDAQ:ISRG) are soaring today, as the company beat expectations and gave strong guidance for 2011.
Canaccord says, "Q4 results beat expectations on the top and bottom lines. 2011 guidance for 16-20% revenue growth is solid and could prove to be conservative. We think ISRG still has room to run in penetrating the hysterectomy market and it also has opportunities to sustain strong procedure growth for the next couple of years through mainstream adoption of emerging robotic-assisted procedures (thoracic, lung, trans-oral, etc.)...We are incrementally more positive on the name but would refrain from buying into strength. The stock is indicating to open at $315-320 and we think it is fairly valued at those levels but would be buyers on a pull back."
Canaccord reiterates a "Hold" rating on Intuitive Surgical (ISRG), which was trading at $332.44, gaining $42.61, or 14.70 percent, as of 2:34 PM EST. Canaccord has a price target of $330 on Intuitive Surgical.
Friday, January 21, 2011
Intuitive Surgical (NASDAQ:ISRG) Shares Explode on Strong Guidance
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1 comment:
Oh yippy! MORE ROBOTIC HYSTERECTOMIES. I alway think I have heard it all and then another way to keep the hysterectomy business booming. This is sick sick sick. It looks like the hospitals will be busy using robotic surgeries for everything, SO BEWARE. I can see alot of unnecessary surgeries.
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