Intuitive Surgical can meet or beat 2013 procedure outlook, says William Blair William Blair said its analysis and channel checks indicate Intuitive Surgical can meet or beat its 2013 procedure growth guidance of 20%-23% and sustain roughly 20% growth for the next several years. The firm recommends investors add to positions more aggressively on any pullbacks and keeps an Outperform rating on the stock.
Intuitive Surgical initiated with a Neutral at Piper Jaffray Piper Jaffray analyst Matt O'Brien started shares of Intuitive Surgical with a Neutral rating and $505 price target. O'Brien calls the stock "simply too expensive" relative to expected sales and earnings, but admits Intuitive's robotic surgical technology will likely dominate the market in the coming years. Further, the analyst thinks the company's da Vinci Prostatectomy and da Vinci Hysterectomy procedures could contract amid new diagnostic tests and insurance pushback. The stock closed yesterday up $2.05 to $496.37.