Intuitive Surgical, IncNasdaq: ISRG
Health Care · Health Care Equipment
$419.37
+0.68%
Vol: 325K
Research Digest
Tuesday, June 16, 2026
BofA trimmed its Intuitive Surgical price target to $515 from $520 while keeping a Buy rating, a modest adjustment amid otherwise strong procedure growth.
On June 16, 2026, BofA analyst Travis Steed lowered his price target on Intuitive Surgical to $515 from $520 while reiterating a Buy rating. The shares traded between $411.59 and $420.59 on the day, around $415, giving the company a market cap near $147B. The minor target cut sits against a fundamentally strong backdrop: Q1 2026 delivered 17% procedure growth and 23% revenue growth, with robust adoption of the da Vinci 5, Ion, and SP platforms and raised 2026 guidance. The cut appears valuation-driven rather than a thesis change, as the stock trades at a premium multiple. The main risks flagged are regulatory scrutiny and market volatility weighing on a richly valued name despite continued double-digit growth.
Previous Market Intelligence
13 daysJun 15No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 14Intuitive Surgical drew mixed analyst targets and rolled out AI software for Ion as the stock stays down sharply YTD.Mixed▶
Intuitive Surgical released FDA-cleared software updates introducing AI across the Ion endoluminal system's navigational workflow with advanced imaging for lung biopsy procedures, and won a court ruling on all of Surgical Innovations System's antitrust claims. The stock is down roughly 27% YTD, pressured by prior FDA recalls, rising competition, and margin concerns, trading near $411 on June 13. Q1 2026 showed 17% procedure growth and 23% revenue growth with raised 2026 guidance. Analysts are split: BofA's Travis Steed cut his target to $515 from $520 (Buy), while Deutsche Bank cut to $366 from $440 on June 2. The wide target spread reflects debate over whether innovation can offset competitive and margin risk.
May 21Intuitive Surgical hits 12-month low as BofA cuts price target to $520 (from $650) and Leerink cuts to $573 amid valuation concerns and FDA stapler recall.Negative▶
Intuitive Surgical shares fell to a 12-month low after Bank of America lowered its target to $520 from $650 on May 18 and Leerink Partners cut to $573 from $622 on May 11, both citing valuation concerns. The stock is down 23.7% YTD despite strong operational metrics — Q1 2026 revenue hit $2.77B (+23% YoY) with overall da Vinci procedures up 16% and after-hours U.S. procedures up 31%, leading the company to raise 2026 procedure guidance. The da Vinci 5 platform continues to drive utilization, with FDA clearance recently granted for a range of cardiac procedures. However, the company is dealing with FDA Class I recalls on certain da Vinci stapler components. Consensus rating remains Moderate Buy with average target of $583.45. EVP Mark Brosius reported small Rule 10b5-1 sales totaling 54 shares May 18-20 at $422-$441.
May 20Intuitive Surgical rises 3.76% as analysts back growth story despite 23.7% YTD decline and FDA recall overhang.Mixed▶
Intuitive Surgical shares moved up 3.76% on May 18, 2026, supported by optimistic analyst sentiment and continued growth in robotic surgery procedures. Despite the recent bounce, ISRG is down 23.7% year-to-date amid a valuation reassessment and an FDA recall overhang. Recent Q1 2026 results were strong: revenue of $2.77 billion (+23% YoY), non-GAAP EPS of $2.50 vs. $2.11 estimate, da Vinci procedures up 16%, Ion procedures up 39%, and 431 da Vinci system placements including 232 da Vinci 5 units. FY26 guidance calls for 13.5%-15.5% da Vinci procedure growth, and the company holds $7.98 billion in cash after repurchasing $1.1 billion in stock. Average analyst price target is $572.68 (29.7% upside). Risk: high multiple plus lingering regulatory concerns.
May 19Intuitive Surgical hits 12-month low as Leerink cuts price target to $573 amid 24% year-to-date declineNegative▶
Intuitive Surgical (ISRG) extended its losses in mid-May 2026 as shares fell to a 12-month low after Leerink Partners reduced its price target from $622 to $573 citing valuation concerns. The stock is down more than 20% year-to-date despite strong Q1 operational results showing 431 da Vinci system placements (up from 367), Q1 non-GAAP EPS of $2.50 beating $2.11 estimates, and revenue of $2.77B growing 23% YoY. Two-thirds of 33 analysts maintain Buy ratings with consensus 33% above current prices. Risk: FDA Class I recall on certain 8mm SureForm 30 Gray Reload staplers associated with serious injuries and one death continues to weigh on sentiment alongside premium P/E of 50.1x.
May 18Intuitive Surgical hits 12-month low on May 11 after Leerink cuts price target to $573 from $622 as shares extend YTD drop past 23%.Mixed▶
Intuitive Surgical shares hit a 12-month low on May 11 after Leerink Partners cut its price target to $573 from $622, citing valuation concerns despite strong operating fundamentals. The stock fell another 4% on May 12, extending a 23.8% year-to-date decline, and traded around $421.12 on May 16. Operationally, the company placed 431 da Vinci systems in Q1 (versus 367 a year earlier), procedures grew 17% year over year, Q1 revenue rose 23% to $2.77 billion, and EPS of $2.50 beat by 17.9%, with non-GAAP operating margin reaching 39%. The FDA identified a Class I recall for certain 8mm SureForm 30 Gray Reload staplers used with the da Vinci system after reports of incomplete staple lines linked to serious injuries and one death. Roughly two-thirds of 33 covering analysts still rate ISRG Buy or Strong Buy, with average targets about 33% above the current price.
May 15Intuitive Surgical hits 12-month low after Leerink price-target cut and FDA Class I recall on SureForm staplersNegative▶
ISRG shares fell to a 12-month low on May 11 after Leerink Partners cut its price target from $622 to $573 citing valuation concerns; stock dropped 5.77% that day. The FDA identified a Class I recall (most serious) for certain 8mm SureForm 30 Gray Reload staplers used with da Vinci, tied to reports of incomplete staple lines, serious injuries, and one death — overshadowing otherwise strong Q1 2026 results where revenue and EPS beat estimates and procedures grew 16% YoY. The installed base reached 9,539 da Vinci systems (up 15.1% YoY) running ~2.2M annual procedures (up 22.2% YoY), with 83% of revenue now recurring. The stock is down >20% YTD and trades at 43.5x forward earnings vs healthcare sector average of 16.8x. Next earnings July 21.
May 14Intuitive Surgical shares hit a fresh 52-week low of $423.33 on May 11 after Leerink cut its PT to $573 from $622, compounded by an FDA Class I recall on SureForm 30 staplers tied to one death.Negative▶
Intuitive Surgical shares fell to a 12-month low of $423.33 on May 11 after Leerink Partners cut its price target to $573 from $622 on valuation concerns, with shares dropping another 4% on May 12 and now down 23.8% YTD. The FDA identified a Class I recall (most serious classification) on certain 8mm SureForm 30 Gray Reload staplers used with the da Vinci Surgical System due to incomplete staple lines linked to serious injuries and one death. Why it matters: Class I recalls can trigger litigation risk and procedural delays for hospitals re-evaluating da Vinci workflows even though Q1 placements were strong (431 systems, +17% YoY). Risk: continued multiple compression from P/E of ~54x vs ~24x industry median, plus reputational damage on the stapler franchise; offset by zero debt and 28.2% net margins.
May 13Intuitive Surgical shares fell 4.0% on May 12 to $431.87, down 23.8% YTD, with tariffs cited as a 1% revenue headwind for FY2026.Negative▶
Intuitive Surgical shares fell 4.0% on May 12, 2026 to $431.87, marking a 23.8% YTD decline and an 8.5% drop over four weeks. Trailing P/E of 52.4x is below the 5-year median of 72.6x, suggesting potential undervaluation per GF Value, though it remains rich versus industry peers at 24.1x. Q1 2026 results were largely in line with expectations, with moderate uptick in procedure volume and margin guidance. The company placed 431 da Vinci systems in Q1 (up from 367 YoY) and grew its installed base by 12%. FY2026 guidance includes a 1% revenue hit from tariffs, which is weighing on sentiment.
May 12Intuitive Surgical shares plunged 6.6% on May 11 to a 52-week low of $417.80 after an FDA Class I recall of SureForm 30 staplers linked to injuries and one death.Negative▶
The FDA issued a Class I recall (most serious) for certain 8mm SureForm 30 Gray Reload staplers used with the da Vinci system, citing incomplete staple lines associated with serious injuries and one death. ISRG shares plunged 6.6% on May 11 to a 52-week low of $417.80 amid institutional selling. The stock is down 19% YTD and trades at ~43.5x forward earnings vs. the healthcare sector average of 16.8x. Despite the recall, fundamentals remain strong: Q1 2026 revenue hit $2.77B (up 23% YoY) versus $2.62B consensus, with EPS of $2.50 versus $2.08 expected. Installed base reached 9,539 da Vinci systems performing ~2.2M procedures annually (growing 22.2% per year). Next earnings on July 21.
May 11Intuitive Surgical shares face year-to-date pressure down ~19% despite strong Q1 results, with institutional buyers like Jennison Associates accumulating shares.Mixed▶
Intuitive Surgical stock traded around $451 on May 6, 2026, down 0.21% intraday and 19.17% year-to-date despite a strong Q1 with revenue of $2.77B (up 23% YoY) and 40% EBIT jump. Major asset managers including Oppenheimer and Jennison Associates (increased position by 11.1% to $1.82B) continue accumulating shares. Valuation remains rich with P/E of 53.9x vs industry 24.1x, leaving less room for error. Next earnings is scheduled for July 21, 2026.
May 8Intuitive Surgical raised 2026 procedure growth guidance to 13.5-15.5% after Q1 beat with 17% procedure growth and 40% EBIT jump.Positive▶
Intuitive Surgical reported exceptional Q1 2026 results with $2.77 billion in revenue, $2.50 adjusted EPS (beating estimates of $2.12), and 40% EBIT jump to $1.08 billion with 39% margins. Da Vinci procedures grew 16% to 847,000 cases while Ion procedures surged 39% to 43,000 cases, prompting management to raise full-year procedure growth guidance. The FDA cleared da Vinci 5 for cardiac procedures, and the company completed acquisition of Italian distributor ab medica. Analysts rate ISRG as Buy (14 vs 2 Sell) with strong EPS expansion expected.
May 6Intuitive Surgical reports Q1 2026 earnings beat with 23% revenue growth and strong procedure growthPositive▶
Intuitive Surgical delivered strong Q1 2026 results with $2.77 billion revenue (up 23% YoY) and $2.50 EPS, exceeding expectations. Da Vinci procedures grew 16% and Ion procedures surged 39%. The company expanded its installed base to 11,395 systems (up 12%). Analysts have mixed sentiment with price targets ranging from $532 to $651, though Barclays lowered its target to $651 from $712. The stock has climbed 40% from October 2025 lows.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| ABTABBOTT | $89.68 | +1.14% | +0.9% | 14.6x | 0.62 | $154.4B |
| ISRGINTUITIVE | $419.37 | +0.68% | -5.3% | 35.3x | 1.45 | $147.5B |
| SYKSTRYKER | $308.10 | +0.05% | -1.7% | 18.4x | 0.79 | $118.1B |
| MDTMEDTRONIC | $80.86 | +0.60% | +4.0% | 12.6x | 0.60 | $103.2B |
| BSXBOSTON | $46.69 | -0.16% | -16.4% | 12.6x | 0.56 | $69.5B |
Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price below 200d MA — bearish structure.