Fly News Breaks for October 18, 2019
Oct 18, 2019 | 05:35 EDT
Intuitive Surgical last night reported "solid" Q3 results with an "exceptional" margin profile and an acceleration in procedure growth at 20%, Piper Jaffray analyst JP McKim tells investors in a research note. However, system placements were a little light and SP commentary was disappointing as the market feedback from physicians is not tracking to the system placements and revenue at this time, adds the analyst. Nonetheless, McKim remains bullish on single port surgery and views it as the future for a lot of cases. He reiterates an Overweight rating on Intuitive Surgical with a $633 price target.
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