diff --git a/src/tooltip/test/tooltip.spec.js b/src/tooltip/test/tooltip.spec.js
index 2f49bbc00e..73d2fcba82 100644
--- a/src/tooltip/test/tooltip.spec.js
+++ b/src/tooltip/test/tooltip.spec.js
@@ -271,7 +271,7 @@ describe('tooltip', function() {
       expect( elmScope.tt_isOpen ).toBeFalsy();
     }));
 
-    it('should not share triggers among different element instances - issue 692', inject( function ($compile) {
+    it('should only set up triggers once', inject( function ($compile) {
 
       scope.test = true;
       elmBody = angular.element(
@@ -290,10 +290,12 @@ describe('tooltip', function() {
 
       scope.$apply('test = false');
 
-      elm2.trigger('mouseenter');
+      // click trigger isn't set
+      elm2.click();
       expect( elmScope2.tt_isOpen ).toBeFalsy();
 
-      elm2.click();
+      // mouseenter trigger is still set
+      elm2.trigger('mouseenter');
       expect( elmScope2.tt_isOpen ).toBeTruthy();
     }));
   });
diff --git a/src/tooltip/tooltip.js b/src/tooltip/tooltip.js
index 68ba0788d9..dfed38d87f 100644
--- a/src/tooltip/tooltip.js
+++ b/src/tooltip/tooltip.js
@@ -146,6 +146,9 @@ angular.module( 'ui.bootstrap.tooltip', [ 'ui.bootstrap.position', 'ui.bootstrap
               if(hasEnableExp && !scope.$eval(attrs[prefix+'Enable'])) {
                 return;
               }
+
+              prepareTooltip();
+
               if ( scope.tt_popupDelay ) {
                 // Do nothing if the tooltip was already scheduled to pop-up.
                 // This happens if show is triggered multiple times before any hide is triggered.
@@ -242,6 +245,11 @@ angular.module( 'ui.bootstrap.tooltip', [ 'ui.bootstrap.position', 'ui.bootstrap
               }
             }
 
+            function prepareTooltip() {
+              prepPlacement();
+              prepPopupDelay();
+            }
+
             /**
              * Observe the relevant attributes.
              */
@@ -257,21 +265,24 @@ angular.module( 'ui.bootstrap.tooltip', [ 'ui.bootstrap.position', 'ui.bootstrap
               scope.tt_title = val;
             });
 
-            attrs.$observe( prefix+'Placement', function ( val ) {
+            function prepPlacement() {
+              var val = attrs[ prefix + 'Placement' ];
               scope.tt_placement = angular.isDefined( val ) ? val : options.placement;
-            });
+            }
 
-            attrs.$observe( prefix+'PopupDelay', function ( val ) {
+            function prepPopupDelay() {
+              var val = attrs[ prefix + 'PopupDelay' ];
               var delay = parseInt( val, 10 );
               scope.tt_popupDelay = ! isNaN(delay) ? delay : options.popupDelay;
-            });
+            }
 
             var unregisterTriggers = function () {
               element.unbind(triggers.show, showTooltipBind);
               element.unbind(triggers.hide, hideTooltipBind);
             };
 
-            attrs.$observe( prefix+'Trigger', function ( val ) {
+            function prepTriggers() {
+              var val = attrs[ prefix + 'Trigger' ];
               unregisterTriggers();
 
               triggers = getTriggers( val );
@@ -282,7 +293,8 @@ angular.module( 'ui.bootstrap.tooltip', [ 'ui.bootstrap.position', 'ui.bootstrap
                 element.bind( triggers.show, showTooltipBind );
                 element.bind( triggers.hide, hideTooltipBind );
               }
-            });
+            }
+            prepTriggers();
 
             var animation = scope.$eval(attrs[prefix + 'Animation']);
             scope.tt_animation = angular.isDefined(animation) ? !!animation : options.animation;