Intuitive Surgical price target raised to $610 from $595 at Piper Sandler

Piper Sandler analyst Adam Maeder raised the firm’s price target on Intuitive Surgical (ISRG) to $610 from $595 and keeps an Overweight rating on the shares. The firm notes the company posted an across-the-board robust Q3 print with nothing to pick at in its view. The company beat on the top and bottom line, and on key operating metrics, including volumes and placements. Additionally, the company increased its FY 2025 procedure guidance to +17%-17.5% from +15.5%-17% prior, and gross margin guidance to 67%-67.5% from 66%-67%. Piper believes the Q3 print may help relieve some of the bear arguments, including concerns around the durability of U.S. procedure growth, a softening capital environment, and margin pressures.