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ISRG

Intuitive Surgical

$709.44

-5.47 (-0.77%)

, TRXC

TransEnterix

$1.85

-0.0099 (-0.53%)

14:08
10/18/16
10/18
14:08
10/18/16
14:08

On The Fly: What to watch in Intuitive Surgical earnings report

Intuitive Surgical (ISRG) is scheduled to report results of its third fiscal quarter after the market close on October 18, with a conference call scheduled for 4:30 pm EDT. What to watch for: 1. PROCEDURAL GROWTH: Along with its second quarter report, Intuitive Surgical raised its much watched procedural growth view for its daVinci system to 14%-15% from 12%-14%. On July 20, the day after Intuitive Surgical's second quarter report, research firm Stifel increased its price target on Intuitive Surgical after the company's products carried out more procedures than expected in Q2 and its financial results beat expectations. The firm said at the time it thinks that the company's procedure growth and gross margin guidance could prove conservative even after they were increased on the Q2 earnings call. The firm said that the company's pipeline is gaining momentum, and it kept a Buy rating on the shares. 2. COMPETITOR PROBLEMS. On April 20, another robotic surgery company, TransEnterix (TRXC), which industry experts viewed as a growing competitive threat to Intuitive Surgical, announced that the FDA determined the company's SurgiBot System does not meet the criteria for substantial equivalence based upon the data and information submitted by TransEnterix in its 510(k) submission. "The FDA's decision is extremely disappointing. We are in the process of reviewing all aspects of the FDA's communication," said Todd Pope, president and CEO of TransEnterix. A day later on April 21, Piper Jaffray analyst Matt O'Brien concluded that TransEnterix's announcement that the FDA had rejected the 510 submission for its SurgiBot robotic system as a incremental positive for Intuitive Surgical. The delay may impact both the ongoing European launch and the upcoming domestic introduction of TransEnterix's more feature-rich ALF-X product, O'Brien told investors in a research note. At the time, he said he believed TransEnterix is the biggest near-term competitive threat to Intuitive. O'Brien kept a Neutral rating on Intuitive Surgical due to valuation. 3. HERNIA OPPORTUNITY: During its earnings conference call last quarter, the company's chief executive officer Gary Guthart commented on the opportunity it sees in hernia repair: "Trends in U.S. general surgery growth continued with strong growth in inguinal hernia repair and ventral hernia repair followed by continued growth in colorectal surgery. Customer feedback and commitment to the use of daVinci in performing inguinal hernia repair for complex conditions has been encouraging in the quarter, increasing our confidence in its long-term acceptance." On September 19, Leerink analyst Richard Newitter said he left the Annual Global Symposium on Robotic-Assisted and Minimally Invasive Hernia Repair "incrementally more positive" on the adoption outlook for Intuitive Surgical's robotic hernia category. Hernia can remain a source of upside for the company's general surgery division, Newitter told investors in a research note. He reiterated an Outperform rating on the shares with a $780 price target.

ISRG

Intuitive Surgical

$709.44

-5.47 (-0.77%)

TRXC

TransEnterix

$1.85

-0.0099 (-0.53%)

  • 18

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  • 29

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ISRG Intuitive Surgical
$709.44

-5.47 (-0.77%)

10/13/16
WELS
10/13/16
INITIATION
WELS
Outperform
Intuitive Surgical initiated with an Outperform at Wells Fargo
Wells Fargo analyst Larry Biegelsen started Intuitive Surgical with an Outperform rating and $815-$825 price target range. The analyst expects continued adoption of hernia repair and colorectal procedures to drive "strong growth" in the United States and views the company's international opportunity as underappreciated. Biegelsen sees "several reasons" for why Intuitive's share outperformance to continue.
09/20/16
SBSH
09/20/16
NO CHANGE
Target $779
SBSH
Buy
Intuitive Surgical procedure upside looks likely, says Citi
Following his firm's semi-annual urology survey and gynecology survey, Citi analyst Amit Hazan believes more procedure upside for Intuitive Surgical looks likely. The results point to continued strength in Intuitive's legacy categories that make up nearly 70% of its U.S. procedures, Hazan tells investors in a research note. He keeps a Buy rating on the shares with a $779 price target.
09/19/16
LEER
09/19/16
NO CHANGE
Target $780
LEER
Outperform
Leerink positive on Intuitive Surgical's hernia opportunity
Leerink analyst Richard Newitter says he left this weekend's Annual Global Symposium on Robotic-Assisted and Minimally Invasive Hernia Repair "incrementally more positive" on the adoption outlook for Intuitive Surgical's robotic hernia category. Hernia can remain a source of upside for the company's gen surgery division, Newitter tells investors in a research note. He reiterates an Outperform rating on the shares with a $780 price target.
09/15/16
SBSH
09/15/16
NO CHANGE
SBSH
Buy
New prostate study a positive for Intuitive Surgical, says Citi
Citi analyst Amit Hazan noted that a new study published in the New England Journal of Medicine found no difference in mortality between prostrate cancer patients treated with surgery or radiation and those placed on active monitoring after 10 years. However, men assigned to active monitoring were significantly more likely to have metastatic disease, Hazan highlighted, calling the study a positive for Intuitive Surgical, as it may help doctors "swing the pendulum" back to treatment. The analyst, who thinks Intuitive's da Vinci Prostatectomy procedures can grow above incidence rates for several years, keeps a Buy rating on the stock.
TRXC TransEnterix
$1.85

-0.0099 (-0.53%)

10/07/16
RILY
10/07/16
INITIATION
Target $3
RILY
Buy
TransEnterix initiated with a Buy at B. Riley
B. Riley analyst Greg Chodaczek started TransEnterix with a Buy rating and $3 price target. The analyst sees a large market opportunity for robotic-assisted surgical systems.
05/11/16
LSCM
05/11/16
DOWNGRADE
Target $2
LSCM
Hold
TransEnterix downgraded to Hold from Buy at Lake Street
Lake Street analyst Bruce Jackson downgraded TransEnterix to Hold saying he prefers to wait on the sidelines until the SurgiBot issues are resolved. The analyst has a $2 price target for the shares.
04/21/16
RBCM
04/21/16
NO CHANGE
RBCM
TransEnterix price target lowered to $4 from $6 at RBC Capital
RBC Capital cut its price target on TransEnterix after the FDA decided not to approve the company's application for its SurgiBot product. However, the firm thinks the company's ALF-X system could be successful, and it keeps an Outperform rating on the name.
04/21/16
PIPR
04/21/16
NO CHANGE
PIPR
Neutral
TransEnterix rejection a positive for Intuitive Surgical, says Piper Jaffray
Piper Jaffray analyst Matt O'Brien views TransEnterix's (TRXC) announcement that the FDA had rejected the 510 submission for its SurgiBot robotic system as a incremental positive for Intuitive Surgical (ISRG). The delay may impact both the ongoing European launch and the upcoming domestic introduction of TransEnterix's more feature-rich ALF-X product, O'Brien tells investors in a research note. The analyst believes TransEnterix is the biggest near-term competitive threat to Intuitive. O'Brien keeps a Neutral rating on Intuitive Surgical due to valuation.

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