Intuitive Surgical (ISRG) PT Lowered to $550 at Stifel on 'Uncertainty Ahead'

Stifel analyst Rick Wise lowered the price target on Intuitive Surgical (NASDAQ: ISRG) to $550.00 (from $670.00) while maintaining a Buy rating.

The analyst commented, "Despite a number of positive performance metrics in 2Q26, including a top-line, bottom-line, system placement, and procedure growth beat, management's post-release call commentary suggests some uncertainty ahead. In the second quarter, US da Vinci procedure growth at ~12% slowed and US da Vinci installed base growth was 8.7%...both the slowest growth rates since the 2020-2021 Covid period. Management highlighted two key factors driving the slower US performance: Affordable Care Act disenrollments “modestly” impacted procedure growth and...the “law of large numbers”. Long-term, we believe Intuitive is making prudent choices to invest in innovation, such as the extended-use-program, which positions the company positively for procedure growth re-acceleration. And these investments could have the compounding effect of reaccelerating incremental and greenfield system placements. But this investment could limit and/or pressure margins and may argue for less dramatic growth and earnings outperformance potential than we have seen in recent years."

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