Intuitive Surgical price target lowered to $310 from $365 at Argus

Argus analyst David Toung lowered the firm’s price target on Intuitive Surgical to $310 from $365 but keeps a Buy rating on the shares. The market reaction to the news that the adoption of GLP-1 weight-loss treatments may be slowing the growth of bariatric procedures using the da Vinci robots is likely “overdone”, the analyst tells investors in a research note. The firm also remains positive about the long-term growth opportunities for robotic surgery, the firm states, adding that the management’s planned increase in investment to be below that of revenue growth should “create operating leverage and improve margins”.