Intuitive Surgical’s (ISRG) story is improving. A new product was developed as an upgrade to its da Vinci Surgical System. Furthermore, the company enjoys a virtual monopoly in robotic surgery without direct competition.

The company’s razor/razor blade business model ensures recurring revenues even during difficult times. In the first quarter, earnings of $2.12 per share were higher than the Zacks Consensus Estimate of $1.66. Revenue growth was witnessed across all segments.

Based on the company’s strong first quarter performance, we upgrade the stock to Outperform with a target price of $409, based on a P/E of 48.1x our fiscal 2010 EPS estimate.

Zacks Investment Research

1. (ISRG) Intuitive Surgical Analyst Upgrades to OutperformWe recently upgraded Intuitive Surgical, Inc. (ISRG) to ‘Outperform’ with a target price of $409...
2. (ISRG) Intuitive Surgical Incorporated – Bull of the DayIntuitive Surgical’s (ISRG) story is improving. A new product was developed as an upgrade to...
3. ($ISRG) Intuitive Surgical Downgraded to NeutralWe have recently downgraded Intuitive Surgical Inc. (ISRG) to Neutral as a result of its...
4. (ISRG) Intuitive Surgical DowngradedIntuitive Surgical’s (ISRG) story is improving. A new product was developed as an upgrade to...
5. (ISRG) Intuitive Surgical Enters JapanIntuitive Surgical, Inc. (ISRG) recently received regulatory approval from the Japanese Ministry of Health, Labor...
6. (ISRG) Intuitive Surgical- Is the Bull of the DayIntuitive Surgical’s (ISRG) story is improving. A new product was developed as an upgrade to...

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