ISRG: Management Reaffirms Bullish View on Procedure Volume Growth
Thought you guys would appreciate this insight into procedure growth. The comment is from the ThinkEquity analyst.
ISRG: Management Reaffirms Our Bullish View on Procedure Volume Growth
August 15, 2012 – We reiterate our Buy rating and $640 price target on ISRG post our special conference call with the management team (CEO, CFO, VP of Strategy). Management reiterated the importance of procedure volume growth for ISRG's long-term potential and indicated that strong systems sales may imply an increasing demand for procedures. With systems placement having grown sequentially in recent quarters, we believe there could be a major wave of volume growth in the near- term. We consider our EV/E of 41x our 2012 EPS estimate of $15.06 to be reasonable.