Intuitive Surgical price target raised to $421 from $412 at BTIG

BTIG analyst Ryan Zimmerman raised the firm’s price target on Intuitive Surgical to $421 from $412 and keeps a Buy rating on the shares after its Q1 earnings beat. The firm already believed that the Street was too low on Systems, with the idea being that hospitals would hold off ahead of Dv5, but with the option to upgrade and a healthy capex environment, system demand is proving more robust, the analyst tells investors in a research note. BTIG adds that results should still take a backseat to a focus on Dv5, with most investors looking to FY25 and FY26 EPS estimates potentially moving higher as the company optimizes its supply chain ahead of the broader Dv5 launch.