Intuitive Surgical price target lowered to $325 from $385 at Piper Sandler

Piper Sandler analyst Adam Maeder lowered the firm’s price target on Intuitive Surgical to $325 from $385 and keeps an Overweight rating on the shares. Intuitive’s Q3 to-line performance was solid, but fell slightly short of consensus, with Systems revenue missing estimates due to a higher mix of operating leases versus capital purchases, the analyst tells investors in a research note. While the update was mixed, Piper Sandler remains constructive on the set-up going forward.