Intuitive Surgical shares tumble as investors warn of slower growth

Intuitive Surgical's stock fell sharply in mid‑July, sliding 11%–14% after the company reported a strong second‑quarter earnings beat but left its full‑year guidance unchanged. Analysts cited the guidance as a sign that worldwide procedure growth could decelerate, prompting multiple price‑target cuts: JPMorgan lowered its target to $450, while other banks trimmed theirs to between $450 and $523.

Despite a 16% year‑over‑year rise in global procedures and a 19% revenue increase to $2.9 billion, the market reacted to the muted outlook for the second half of 2026. Commentators highlighted the firm’s dominant position with over 11,700 da Vinci systems installed worldwide and the high switching costs for hospitals, suggesting the stock may now be undervalued relative to its fundamentals.

Some analysts and investment newsletters pointed to the recent decline as a potential buying opportunity, noting that the company's strong margins and expanding instrument sales could support a price rebound if growth picks up.