Intuitive Surgical price target raised to $589 from $529 at BTIG

BTIG raised the firm’s price target on Intuitive Surgical (ISRG) to $589 from $529 and keeps a Buy rating on the shares following the Q3 report. The company posted strong procedure growth and unit placements, the analyst tells investors in a research note. BTIG believes the stock is positioned “for a bounce” given the growing short interest into the earnings print. The firm continues to believe Intuitive Surgical has “meaningful runway” in its trade-in cycle and while procedure demand is “healthy.”