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Fly News Breaks for March 21, 2016
TRXC, TITXF, ISRG
Mar 21, 2016 | 06:02 EDT
After attending SAGES 2016, Piper Jaffray analyst Matt O'Brien says that while Intuitive Surgical's (ISRG) monopoly in surgical robotics is ending, the company is unlikely to be materially impacted in the near term. Several competitive systems on display at SAGES including TransEnterix's (TRXC) Alf-X and SurgiBot as well as Titan Medical's (TITXF) SPORT, O'Brien tells investors in a research note. The analyst believes that if anything, new entrants could actually accelerate adoption of robotically performed procedures in the near term. O'Brien views Intuitive's procedure volume guidance as conservative but keeps a Neutral rating on the name due to valuation.
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