Here's Exactly Why Wall Street Thinks Intuitive Surgical Stock Could Soar 102% Over the Next 12 Months
Analysts are very bullish on Intuitive Surgical, despite the stock's steep decline.
Overview
Intuitive Surgical (NASDAQ: ISRG) has been one of the best growth stocks in the healthcare sector for years. It revolutionized surgical procedures with its da Vinci robotics-assisted surgery platform. So, when shares drop 44% from their high, investors notice. This is currently the stock's second-sharpest decline of the past decade.
But Wall Street hasn't lost faith in the stock. According to CNN Business, 71% of Wall Street analysts rate Intuitive Surgical stock as a buy. Based on 12-month price targets, shares could soar as much as 103%, while the median price target of $485 is about 43% above Intuitive Surgical's current price.
Details
When you put the pieces together, it's clear why analysts remain bullish toward Intuitive Surgical: The stock's valuation has fallen drastically below its long-term average. Yet, it still dominates robotics-assisted surgery, and its new da Vinci 5 system is gaining momentum. All of this makes the stock an obvious rebound candidate. Here's what you need to know.
Source
Originally published at www.fool.com.