UPDATE: Barrington Reiterates Outperform Rating, $650 PT on Intuitive Surgical

In a report published Friday, Barrington reiterated its Outperform rating and $650.00 price target on Intuitive Surgical (NASDAQ: ISRG).

Barrington noted, “We are reiterating our OUTPERFORM rating and $650 price target following ISRG's Q4/12 earnings as we believe management will continue to execute on its significant market opportunities over the short and long term and will drive strong procedure growth/pricing power with new technologies in new procedures. We believe the short reports circulated recently are largely based on unfounded concerns and we expect the patient and hospital demand for da Vinci procedures to remain high in the face of the issues highlighted in those reports.”

Intuitive Surgical closed on Thursday at $576.07.