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Fly News Breaks for June 1, 2015
TRXC, ISRG
Jun 1, 2015 | 09:51 EDT
Piper Jaffray views TransEnterix's (TRXC) 510k application for its SurgiBot system as in-line with management's expectations. Piper believes the SurgiBot system will be more market expanding than head-to-head direct competition to Intuitive Surgical's (ISRG) da Vinci. It expects SurgiBot to hit the market in early 2016, marking "the first real commercial" competitive robot for Intuitive Surgical. However, Piper thinks the impact on the da Vinci to be "fairly modest." It keeps a Neutral rating on Intuitive Surgical with a $505 price target.
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