Wednesday, October 03, 2007

Intuitive Surgical (NASDAQ:ISRG): Oppenheimer takes tgt to $270

Oppenheimer is out positive on Intuitive Surgical (NASDAQ:ISRG) upping their tgt to $270 from $255 after the co was featured at the Mayo Clinic Techniques in the Advanced Endoscopic and Robotic Gynecologic Surgery conference last week. Approximately 150-200 physicians attended this event and judging by the full conference room the firm estimates the event may have sold out. They came away from the meeting believing Intuitive has the ability to address more than just the hysterectomy in the GYN area. Firm spoke with several physicians who were extremely interested in incorporating the da Vinci into their practice. ISRG was also highlighted the da Vinci at the American Urogynecologic Society annual meeting in Hollywood, Florida over the weekend.

After attending these meetings and speaking with GYN physicians, the firm feels utilization may be increasing faster than they had expected. In their newest model, they have slightly tweaked utilization upwards. Based upon this change, firm's estimated revenue has increased from $750.0mm to $768.9mm. EPS forecast has increased from $4.24 to $4.50.

Maintains Buy.

Notablecalls: This is the new Street high tgt for ISRG. Even more importantly, I suspect OpCo's comments may cause other firms to take a look at their utilization ests in the n-t. Expect the call to create buy interest in ISRG stock today, possibly pushing it to a new all time high.

3 comments:

Francis said...

Well we were doing fine.
We got in, in the low 80's and added small amounts into the high 90's during dip sell offs by Dips.
But just when we thought we could relax we get the financial equivalent to having our picture on the front of SI.."Kramer" likes ISRG?? Why us?
Go over and bless STXS or JNJ or Jones Soda or FRPT..
Just leave us alone "Kramer"

notablecalls said...

LOL

nuancy49 said...

My friend says Kramer has been talking up IRSG for months, I say he just started his ranting on this? Does anyone else know?
By the way, congrats francis on getting in in low 80's. I have been telling everyone about ISRG for a year and a half. LOVE this company. Nuancy49