Overshadowed last week by Intuitive Surgical’s “strong” preliminary Q4 results and 2019 procedure guidance were several positive updates in China, Piper Jaffray analyst JP McKim tells investors in a research note. These included the successful completion of a 63 patient SP trial by Hong Kong University, which highlighted the ability of the system to access hard to reach places and reduced incision, says the analyst. Further, he points out Intuitive’s Xi system in China was cleared in December and that the company is now direct through its joint venture Intuitive-Fosun not only for Ion but for da Vinci products as well. McKim expects a ramp in Intuitive Surgical’s placements throughout 2019 in China, which he believes should “further fuel above average” procedure growth in 2019 and 2020. The analyst reiterates an Overweight rating on Intuitive Surgical with a $625 price target.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.