Intuitive Surgical receives CE Mark for da Vinci Xi Surgical System Intuitive Surgical announced it has received a CE Mark for its da Vinci Xi Surgical System. Achieving this milestone allows the company to market the Xi System in Europe and other countries that require the CE Mark. With the U.S. and European introductions underway, Intuitive Surgical is seeking additional regulatory clearances to market the da Vinci Xi System around the world. These include clearances for advanced technologies such as vessel sealing, stapling and fluorescence imaging, which are designed to enhance the capabilities of the da Vinci Xi System. This month, Intuitive Surgical received the first of these clearances from the FDA to market the EndoWrist One Vessel Sealer instrument for the da Vinci Xi System in the U.S.
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.