RBC Raises Intuitive Surgical (ISRG) Price Target After Strong Earnings Beat

Intuitive Surgical, Inc. (NASDAQ:ISRG) ranks among the best medical stocks to buy according to analysts. RBC Capital kept its Outperform rating on Intuitive Surgical, Inc. (NASDAQ:ISRG) and raised its price target for the surgical robotics company from $605 to $615 on July 23. The change follows Intuitive Surgical’s quarterly results, which came in better than anticipated. Sales were 3.8% higher than expected, and at $2.19, the company’s adjusted earnings per share represented a 23% increase, exceeding forecasts by more than 13%.

The firm emphasized that the earnings call allayed investor concerns about the impact of third-party remanufacturers, the current hospital spending environment, and the projected timeline for da Vinci 5 adoption and ramp-up.

Intuitive Surgical, Inc. (NASDAQ:ISRG) is dedicated to developing, manufacturing, and marketing robotic products that utilize minimally invasive surgery to improve clinical outcomes for patients. One such product is the da Vinci Surgical System, which comprises of a surgeon’s station, a patient-side cart with four robotic arms, a 3D vision system, and proprietary tools.

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Disclosure: None.