Intuitive Surgical stock falls below $370 despite strong quarterly earnings

Intuitive Surgical's stock price fell below $370 in early September 2026, despite reporting strong quarterly financial results. The company's shares closed at $366.70 on the Nasdaq, which is approximately 21.98 percent lower than its level one year prior and significantly below the average analyst price target of approximately $508.68.

In the second quarter of 2026, the medical robotics company reported revenue of $2.89 billion, a 19 percent increase compared to the same period the previous year. This growth was driven by a 16 percent increase in worldwide procedures using da Vinci and Ion systems. The company reported a GAAP net income of $818 million, resulting in an earnings per share of $2.29, while adjusted net income reached $1.00 billion with an adjusted EPS of $2.80.