Intuitive Surgical price target raised to $625 from $615 at RBC Capital

RBC Capital raised the firm’s price target on Intuitive Surgical (ISRG) to $625 from $615 and keeps an Outperform rating on the shares. The company delivered a solid earnings beat, delivering upside surprise of 4% and 20% on sales and EPS, respectively, the analyst tells investors in a research note. The stock also rose thanks to the positive total/dv5 placements, procedure volume raise, and a notable 20% EPS beat as the report helped dispel investor concerns coming into the quarter on dV5 adoption/ramp, hospital environment, and re-manufacturers, RBC adds, noting that it is overall bullish on Intuitive’s prospects as Q3 marks the beginning of the trade-in and multi-year replacement cycle for the company.