NEW YORK, July 2, 2026, 14:01 (EDT)
- Intuitive Surgical, Inc. NASDAQ:ISRG climbed 4.7% to $421.42 in the latest quote, beating the Invesco QQQ Trust NASDAQ:QQQ, down 2.3%.
- The rebound put back roughly $6.9 billion in market cap, clawing back just about 9% of the dollar loss since the 52-week high on Jan. 7.
- Nasdaq stocks traded during normal hours at the dateline. Nasdaq says July 3, 2026, is closed for the Independence Day holiday.
Intuitive Surgical, Inc. NASDAQ:ISRG shares rose Thursday, but the bounce did little to mend losses racked up from January through July. The robotic-surgery name was up 4.7% at $421.42 as of 1:46 p.m. EDT, after opening at $409.81 and hitting $423.30 at the high.
The stock last closed at $402.38. MarketWatch reported on Wednesday that Intuitive was 33.37% off its 52-week high of $603.88 from Jan. 7. With Thursday’s price, the gap narrowed to about 30.2%. That still leaves about $65.6 billion in market cap below the January top, based on the latest price and quoted market value.
| ISRG price math | Figure |
|---|---|
| Last price seen | $421.42 |
| Change on the day | +$19.04, or +4.7% |
| Previous session close | $402.38 |
| Trading range for the day | $403.50-$423.30 |
| Market cap gained in session | About $6.9 billion |
| Still down from Jan. 7 peak | -30.2% |
| Total value lost since high | About $65.6 billion |
Stocks climbed after U.S. cash markets opened. The Nasdaq is open from 9:30 a.m. to 4 p.m. Eastern on regular days and will be closed July 3 for the Independence Day holiday. That puts Thursday as the final full trading session ahead of the break.
This wasn’t just about one stock. Medical technology companies saw broad gains as Boston Scientific Corp. NYSE:BSX rose 5.2%, Stryker Corp. NYSE:SYK gained 4.4%, and Medtronic Plc NYSE:MDT added 4.3%. The iShares U.S. Medical Devices ETF (NYSEARCA:IHI) climbed 3.3%. In tech, the Invesco QQQ Trust fell 2.3%.
| Stock or fund | Latest move | Market read |
|---|---|---|
| Intuitive Surgical NASDAQ:ISRG | +4.7% | Bounced after sharp slide |
| Boston Scientific NYSE:BSX | +5.2% | Topped big medtechs |
| Stryker NYSE:SYK | +4.4% | Strength in sector lifted shares |
| Medtronic NYSE:MDT | +4.3% | Defensive medtech saw buying |
| iShares U.S. Medical Devices ETF (NYSEARCA:IHI) | +3.3% | Group gained ground |
| Invesco QQQ Trust NASDAQ:QQQ | -2.3% | Tech heavyweights under pressure |
This is on investors’ radar as ISRG’s valuation story has diverged. The stock trades at around 51 times trailing earnings now, based on recent quote data. StockStory shows a forward P/E of 37.3, with the consensus target at $565.08 for the next year. Off Thursday’s last quote, that’s about 34% upside; from Wednesday’s close, closer to 40%.
Intuitive’s next event is its Q2 earnings call on July 16 at 1:30 p.m. PDT, as listed on its investor site. For the stock, the focus is on Q2 procedure numbers and da Vinci 5 placements, after nearly a third of its value was wiped out since the high in January.
Intuitive’s first-quarter numbers offered bulls more ammunition. The company reported a 23% jump in revenue to $2.77 billion. Combined da Vinci and Ion procedures climbed about 17%. It placed 431 da Vinci systems, with 232 of those the da Vinci 5. CEO Dave Rosa said the quarter showed “expanded adoption” for “da Vinci, Ion, and digital platforms.” Intuitive Surgical
The question is how much of the new growth shows up in earnings. CFO Jamie Samath told investors on the April call that “revenue growth ahead of total procedure growth” was mostly thanks to da Vinci 5, but he also cautioned that higher oil and memory prices could hit results more later in the year. The Motley Fool
Intuitive expects da Vinci procedure growth worldwide in 2026 between 13.5% and 15.5%. The company is guiding for non-GAAP gross margin of 67.5% to 68.5% of revenue, baked in with a 1.0% tariff impact. Intuitive said more tariffs could have a material effect on 2026.
