Intuitive Surgical price target lowered to $542 from $560 at BTIG

BTIG lowered the firm’s price target on Intuitive Surgical (ISRG) to $542 from $560 and keeps a Buy rating on the shares following. Intuitive Surgical’s Q1 procedure growth exceeded the Street by 240 basis points as Systems fell short by 40 units, the analyst tells investors in a research note. Procedure demand is healthy, Intuitive Surgical is taking up procedure guidance as a sign of confidence, and is seeing steady utilization increases across all key platforms, the firm argues.