Intuitive Surgical weakness on Q1 would be unwarranted, says Cantor Fitzgerald

Cantor Fitzgerald analyst Craig Bijou thinks any potential weakness in shares of Intuitive Surgical today would be unwarranted, given the momentum of the company’s underlying business. The slight revenue miss in Q1 was driven by a higher proportion of system placements via lease, which lowers upfront revenue but provides a more stable recurring revenue going forward, Bijou tells investors in a research note. While the analyst expects the stock to see pressure today, he thinks investors should focus on the “impressive underlying business metrics that appear as strong as ever.” Bijou reiterates an Overweight rating on Intuitive Surgical with a $620 price target.

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