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ISRG

Intuitive Surgical

$525.36

-17.49 (-3.22%)

14:59
10/18/18
10/18
14:59
10/18/18
14:59

Fly Intel: 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 out in mid-July, Intuitive Surgical raised its fiscal year 2018 procedural growth view to 14.5%-16.5% from 12%-15%. Commenting on the announcement, Gary Guthart, President and CEO of Intuitive Surgical, said, "We are pleased with our customers' increased use of da Vinci in the second quarter and the financial results that follow. We remain dedicated to working with our customers to deliver superior programs while continuing to build on our record of innovation - including the recent clearances of our SP surgical system and 3rd generation stapling platform." 2. GROWTH PROSPECTS INTACT: Following its Q2 report, analysts were for the most part in agreement on Intuitive's growth prospects. After the company's Q2 earnings beat in July, JPMorgan analyst Tycho Peterson raised his price target for Intuitive Surgical to $575, saying the company reported "exceptionally strong" Q2 results. The company's momentum is "showing absolutely no signs of slowing," Peterson told investors in a research note after the company Q2 report. He continued to like the set-up for Intuitive Surgical shares and reiterated an Overweight rating on the name. After Intuitive's July report, Cantor Fitzgerald analyst Craig Bijou raised his price target for Intuitive Surgical to $620 from $510. Intuitive continues to justify its premium valuation, again significantly beating on all metrics, including sales and earnings, Bijou said. He noted the company posted 18% procedure growth for Q2, one of the strongest quarterly procedure growth figures year-over-year in the last five years. The analyst said he believes surgical robotics "remains at an early stage" and that Intuitive Surgical will drive adoption with its existing platforms and pipeline products. Bijou reiterated an Overweight rating on the shares. GLOBAL ROBOTIC SURGERY MARKET: According to a recent report out of BIS Research, titled "Global Minimally Invasive Surgical Systems Market- Analysis and Forecast, 2018-2025," the global minimally invasive surgical systems market is estimated to grow over $40.52B by 2025. Intuitive Medical is currently leading the surgical robotics market space, occupying approximately 70% of the market, according to the BIS study.

  • 18

    Oct

ISRG Intuitive Surgical
$525.36

-17.49 (-3.22%)

10/10/18
10/10/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Discovery (DISCA) upgraded to Outperform from Neutral at Credit Suisse with analyst Doug Mitchelson saying he has reviewed the company's Nielsen ratings trends in detail, discussed the company's ad execution with industry contacts and recalibrated distribution trends leading to an increase in his U.S. revenue forecast and increased confidence in his above-Street EBITDA estimates. 2. McDonald's (MCD) upgraded to Buy from Neutral at Guggenheim. 3. Ferrari (RACE) upgraded to Hold from Sell at Societe Generale with analyst Stephen Reitman saying the final version of the mid-term FY22 plan shared by new CEO Louis Camilleri in September broadly repeats the key financial goals first stated in February, but the manner as to how these will be achieved appears to have fundamentally altered. 4. Intuitive Surgical (ISRG) upgraded to Overweight from Neutral at Piper Jaffray with analyst JP McKim saying a survey of doctors from various specialties came back favorable for robotics and confirms that robotic surgery penetration is going "much higher." 5. Tile Shop (TTS) assumed with a Buy from Neutral at Citi with analyst Geoffrey Small saying the hard-surface flooring sector is attractive given its favorable growth profile, highly-fragmented structure and because it carries very little threat of e-commerce disruption. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/09/18
PIPR
10/09/18
UPGRADE
Target $600
PIPR
Overweight
Piper upgrades Intuitive Surgical, sees robotic surgeries going 'much higher'
Piper Jaffray analyst JP McKim upgraded Intuitive Surgical to Overweight from Neutral after taking over lead coverage from analyst Matt O'Brien. McKim also boosted his firm's price target for the shares to $600 from $540. The stock closed the trading day up $4.74 to $531.21. A survey of doctors from various specialties came back favorable for robotics and confirms that robotic surgery penetration is going "much higher," McKim tells investors in a research note. Further, the analyst's analysis of Intuitive's current install base and recent trade-in activity point to the beginnings of an upgrade/new product cycle of older generation to fourth generation systems. He sees upside to the company's system placements in 2018 and 2019 coupled with "sustainable" 15%-plus procedure growth going forward.
10/09/18
PIPR
10/09/18
UPGRADE
PIPR
Overweight
Intuitive Surgical upgraded to Overweight from Neutral at Piper Jaffray
10/09/18
SBSH
10/09/18
NO CHANGE
SBSH
Citi more selective on Medical Device stocks into Q3 results
Citi analyst Amit Hazan is "much more selective than usual" on Medical Device stocks into the Q3 earnings season. While easier comps should bring "strong and stable" Q3 organic sales growth, recent currency volatility will limit both earnings upside and guidance raises, Hazan tells investors in a research note. He sees only Boston Scientific (BSX) and Intuitive Surgical (ISRG) shares moving higher on earnings reports. The analyst expects volatility in both Becton Dickinson (BDX) and Varian Medical (VAR), but would be an "aggressive" buyer of the stocks on any post-earnings weakness. Hazan is also more cautious on names like Edwards Lifesciences (EW), Baxter (BAX), and Zimmer Biomet (ZBH) into the Q3 prints.

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SR

Spire

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JPM

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WMT

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  • 15

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MDR

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DVMT

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$105.75

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  • 11

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BRC

Brady

$41.93

-0.27 (-0.64%)

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  • 15

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ABBV

AbbVie

$88.28

0.06 (0.07%)

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WMT

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  • 15

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MNGA

Magnegas

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  • 04

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DVMT

Dell Technologies

$105.75

4.13 (4.06%)

, VMW

VMware

$152.41

1.86 (1.24%)

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Dell Technologies increases 'final' offer for Class V shares to $120 per share »

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DVMT

Dell Technologies

$105.75

4.13 (4.06%)

VMW

VMware

$152.41

1.86 (1.24%)

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BPMC

Blueprint Medicines

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WMT

Walmart

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BRC

Brady

$41.93

-0.27 (-0.64%)

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ARNA

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$32.40

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WMT

Walmart

$101.58

-1.37 (-1.33%)

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Earnings
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  • 15

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AVEO

Aveo Pharmaceuticals

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  • 27

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DVMT

Dell Technologies

$105.75

4.13 (4.06%)

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  • 11

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CSCO

Cisco

$44.35

-0.78 (-1.73%)

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ENR

Energizer

$55.95

-2.13 (-3.67%)

07:00
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  • 15

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