Intuitive Surgical’s (NASDAQ:ISRG) da Vinci Surgical Systems Units Sold declined from 1,119 in 2019 to 936 in 2020 although it recovered to close to 1,350 in 2021. Trefis expects the metric to grow to around 1,600 units by 2023.
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While deliveries dipped in 2020 due to the impact of Covid-19, we expect them to rise going forward, driven by the benefits the system offers to both patients and surgeons. Moreover, the system is also being expanded into new procedures and this could also drive demand.
We think ISRG stock is undervalued at current levels. We value ISRG at about $345 per share, about 25% ahead of the current market price.
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