New York, May 27, 2026, 14:05 (EDT)
Intuitive Surgical (ISRG) slid over 4% Wednesday afternoon, trading close to session lows. Shares were last seen at $416.43, off $20.21, after dipping to $415.00. The move put the surgical-robotics stock in line with a broader slump in medical-device names.
The action landed on the same day Goldman Sachs lowered its price target on Intuitive Surgical to $558 from $621 but left its Buy call in place, signaling Wall Street is trimming targets on strong medtechs. Data from MarketScreener had Intuitive shares off around 26% this year.
Medical device stocks lagged. The iShares U.S. Medical Devices ETF dropped around 2.5%. Medtronic slipped 1.7%, Stryker slid 2.4%. SPY, which tracks the S&P 500, edged down under 0.2%.
No obvious earnings miss hurt the stock. Intuitive posted first-quarter revenue of $2.77 billion, up 23%. About 847,000 da Vinci procedures were done, 16% higher than last year. More procedures mean more sales of instruments and accessories for each surgery done on the system, which is important for the company’s growth.
The company said it placed 431 da Vinci surgical systems in the quarter, with 232 of those the newer da Vinci 5. At the end of March, the installed base was about 11,395 da Vinci systems. The Ion robotic lung-biopsy platform also saw growth, with procedures up 39% to around 42,700.
Intuitive Surgical CEO Dave Rosa told investors in April that the quarter saw “expanded adoption of our da Vinci, Ion, and digital platforms.” The company is forecasting 2026 da Vinci procedure growth between 13.5% and 15.5%. Intuitive Surgical
RBC Capital’s Shagun Singh kept an Outperform on Intuitive Surgical after the quarter, saying the story is unchanged for the firm. “ISRG delivered another robust quarterly performance,” Singh said, noting revenue and earnings topped estimates by roughly 6% and 18%. Investing.com
But risk is there. Intuitive said its adjusted gross margin for 2026 factors in a tariff hit worth about 1% of revenue, and flagged that more tariffs could have a material impact.
China remains tough for the company. Chief Financial Officer Jamie Samath told analysts on the call that robotics competition in China is picking up, with provincial tenders going to local players or those offering cheaper systems. The company also said in a filing that its demand in China has taken a hit from Chinese robotic-surgery rivals and from the government’s push for systematic governance.
Investors are dealing with two things: Intuitive keeps growing procedures, systems and recurring sales, but the stock faces tougher valuation as medtech names get hit. At the moment, the market is punishing the stock more on the second point.
