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Intuitive Surgical, Inc.

ISRG · NASDAQ

Market closed$345.42$-56.91 (-14.15%)After hours $345.58 · +0.05%

Key statistics

Previous close$402.33
Open$364.51
Day high$367.15
Day low$344.55
52-week high$603.88
52-week low$344.55
Market cap122.33B
Volume11.55M
Average volume2.60M
P/E ratio35.91
Forward P/E26.59
EPS9.62
Dividend yield0.00%

Market context

Why it moved

Intuitive Surgical shares fell sharply despite beating Q2 earnings and revenue estimates, as investors were rattled by decelerating U.S. da Vinci procedure growth, disappointing full-year procedure growth guidance, concerns over ACA premium subsidy changes reducing patient access, declining bariatric procedures due to GLP-1 drug adoption, and a planned 2027 instrument life extension that could pressure recurring revenues.

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What is happening

Recent company-specific developments and publisher coverage.

July 18, 2026Intuitive Surgical plunged 14% to a 30-month low after its Q2 earnings report triggered a broad wave of analyst price target cuts, despite beating both EPS ($2.80 vs. $2.51 est.) and revenue ($2.89B vs. $2.82B est.) expectations. Investors fixated on U.S. da Vinci procedure growth decelerating to 12% in Q2 from 14% in Q1, below the 13% Wall Street had expected, with management citing ACA premium subsidy expirations, GLP-1 drug adoption reducing bariatric surgeries, and a challenging China environment as headwinds. The company maintained — rather than raised — its full-year procedure growth guidance near the midpoint of 13.5%–15.5%, disappointing investors who anticipated an upgrade, while over a dozen analysts slashed price targets (ranging from $400 to $685) and Citi removed the stock from its 'Upside 90-Day Catalyst Watch,' pulling broader medical device peers like STAA and GMED lower as well.

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July 17, 2026Intuitive Surgical rose 3.4% during the regular session ahead of its Q2 earnings report, but shares are plunging roughly 11% in after-hours trading despite a strong beat — Q2 EPS of $2.80 crushed the $2.51 estimate, and revenue of $2.89B topped forecasts, with da Vinci procedures up 16% and 468 systems placed. The post-earnings selloff appears driven by elevated valuation concerns, a challenging China environment with rising domestic competition and pricing pressure flagged on the call, and a guidance range for 2026 procedure growth of 13.5%–15.5% that likely disappointed investors hoping for an upward revision after the beat.

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July 16, 2026Intuitive Surgical shares rebounded, gaining ahead of its closely watched Q2 2026 earnings report scheduled for July 16, after hitting a fresh 52-week low the prior session. The recovery came despite Mizuho lowering its price target to $500 from $525 (maintaining Neutral) and Goldman Sachs reiterating a Buy on the stock, which is down roughly 28% year-to-date. Sentiment had been rattled earlier in the week by HCA Healthcare's report of declining surgical volumes — a demand signal for Intuitive's da Vinci systems — though bulls point to the company's strong recurring revenue base (86% of Q1 revenue) and a consistent track record of earnings beats averaging 16.8% over the past four quarters.

2.4954

July 15, 2026Intuitive Surgical tumbled to a fresh 52-week low as HCA Healthcare's Q2 report revealed a 2.3% decline in inpatient surgeries and a 3.4% drop in outpatient surgeries, raising alarm bells ahead of Intuitive's own earnings on July 16. The surgical volume warning hit the robotic-surgery leader directly, given its recurring revenue model depends on procedure activity, while a wave of analyst price-target cuts — from TD Cowen ($520), Baird ($525), RBC ($600), Barclays ($651), and Evercore ISI ($430) — amplified selling pressure by resetting valuation expectations even as most firms maintained bullish ratings. Stifel bucked the trend, reiterating a Buy with a $670 target following a surgeon survey. Investors are now laser-focused on Thursday's report, watching for da Vinci procedure growth against the 13.5%–15.5% annual guide and instrument revenue per procedure, as a routine beat may no longer be sufficient at a ~49x P/E premium to medtech peers.

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July 14, 2026Intuitive Surgical closed essentially flat ahead of its highly anticipated Q2 earnings report due July 16, as multiple analysts trimmed price targets following a recent da Vinci component recall while maintaining bullish ratings — RBC cut its target to $600 (from $650), TD Cowen to $520 (from $585), and BTIG to $512 (from $574). Goldman Sachs has pushed back against the bearish narrative, arguing the stock's ~28% decline from highs is overdone, while some analysts see 35%+ upside from current levels. The broader market faced headwinds from surging oil prices amid renewed U.S.-Iran tensions.

0.0836

July 11, 2026Intuitive Surgical edged lower ahead of its Q2 earnings report scheduled for July 16, as the healthcare sector (XLV) also pulled back on the day. Investor focus is squarely on the upcoming results, with the Zacks consensus estimate pegging Q2 sales at $2.81 billion. Adding a constructive backdrop, BMO Capital initiated coverage with an Outperform rating and a $518 price target on July 9, calling ISRG a top MedTech pick — though the stock remains under pressure, down roughly 27% year-to-date and hovering near its 52-week low of $396.68 amid broader medtech valuation resets and a mixed analyst debate over whether strong da Vinci 5 demand and 17% system placement growth in Q1 can justify the current premium multiple.

-1.159

July 10, 2026Intuitive Surgical shares edged lower, underperforming amid a volatile backdrop shaped by renewed U.S.-Iran military exchanges and geopolitical risk weighing on broader markets. The session's key positive catalyst was BMO Capital Markets initiating coverage with an Outperform rating and a $518 price target — well above current levels — citing ISRG as a top MedTech pick in a beaten-down sector. This follows strong Q1 2026 fundamentals, including 17% procedure growth and 23% revenue growth, alongside growing interest in new opportunities like appendectomy expansion, even as the stock remains down roughly 24% year-to-date.

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July 9, 2026Intuitive Surgical closed down nearly 3%, underperforming the broader healthcare sector (XLV) as a sweeping risk-off selloff gripped markets after President Trump declared the U.S.-Iran ceasefire 'over,' sending oil prices surging over 5% and stoking fresh inflation fears. Despite the macro-driven pullback, the company's fundamental story remains intact — Q1 2026 delivered 17% procedure growth and 23% revenue gains, and analysts see the appendectomy market as a new growth runway for its Da Vinci platform. Shares are recovering modestly in after-hours trading, up ~0.6%.

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Barron's · July 17, 2026Why This Surgical Robot Stock Is Still a Buy During Its Worst Day in 4 YearsInvestopedia · July 17, 2026Why Intuitive Surgical Stock Plunged TodaySeeking Alpha · July 17, 2026Intuitive Surgical stock falls despite Q2 beat (ISRG:NASDAQ)Reuters · July 17, 2026Intuitive Surgical falls as Obamacare concerns rekindle medtech demand debateBloomberg.com · July 16, 2026Intuitive Surgical Drops as ACA Changes, GLP-1s Weigh on GrowthInvestor's Business Daily · July 16, 2026Robotic Surgery Giant Crashes After Guiding To Its Slowest Growth In YearsNAI500 · July 16, 2026Intuitive Surgical’s Stock Has Fallen Over 25% This Year, but Goldman Sachs Still Recommends Investors BuyInvesting.com · July 16, 2026Earnings call transcript: Intuitive Surgical beats Q2 2026 estimates, shares fall
Benzinga · July 17, 2026Raymond James Maintains Outperform on Intuitive Surgical, Lowers Price Target to $483
Benzinga · July 17, 2026Intuitive Surgical Stock Sinks to 52-Week Low - Here's Why
Benzinga · July 17, 2026Piper Sandler Reiterates Overweight on Intuitive Surgical, Lowers Price Target to $470
Benzinga · July 17, 2026JP Morgan Maintains Overweight on Intuitive Surgical, Lowers Price Target to $450
Mt Newswire · July 17, 2026Intuitive Surgical Seen Maintaining Durable Growth Despite Temporary US Headwinds, RBC Says
Mt Newswire · July 17, 2026Intuitive Surgical Faces Rising Competitive Pressure, Long-Term Pricing Risks, Oppenheimer Says
Benzinga · July 17, 2026Mizuho Maintains Neutral on Intuitive Surgical, Lowers Price Target to $400
Benzinga · July 17, 2026Wells Fargo Maintains Overweight on Intuitive Surgical, Lowers Price Target to $487

Peers

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