Street View: Intuitive Surgical to see robust demand for robotic surgeries
** Medical device maker Intuitive Surgical ISRG.O beat third-quarter profit estimates on Thursday, helped by strong demand for surgical robots that are used in minimally invasive procedures
** Shares rise 8% to $511, top gainer among S&P 500 .SPX components
ROBOTIC SURGERIES TO DRIVE REVENUE IN 2024 AND BEYOND
** Jefferies ("hold", PT: $475) says "we expect robotic surgery to grow and take share from traditional approaches for many years"
** Leerink Partners ("outperform", PT: $548) says ISRG will continue to trade at a significant premium to its large-cap medtech competitors given its favorable margins
** RBC Capital Markets ("outperform", PT: $555) expects the volume of procedures using its Da Vinci systems to grow in mid-teens globally through 2026
** Raymond James ("outperform"; PT: $560) says "Asia-Pac remains challenging, but we view this issue as transient and continue to believe ISRG is well positioned"
** Stifel ("buy"; PT: $525) says ISRG should easily exceed 2.5 million annual procedures given a new guidance mid-point now implying ~2.6 million in 2024
Reporting by Sruthi Narasimha Chari in Bengaluru
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