NEW YORK, June 27, 2026, 15:09 (EDT)
- Intuitive Surgical Inc. NASDAQ:ISRG ended Friday at $404.70, gaining 1.25% on the day. Shares finished just 2.0% above the 52-week low.
- The stock added 0.43% this week. Volume on Friday hit 3.41 million shares, higher than its 65-day average.
- With the July 3 U.S. holiday, the next trading week is shortened. Intuitive’s next confirmed event is its Q2 earnings call set for July 16.
Intuitive Surgical Inc. NASDAQ:ISRG closed out the week higher, but Friday’s close flattered the five-day move. Shares ended Friday up 1.25% at $404.70 on June 26. The weekly advance came in at just 0.43%, according to the company’s LSEG-powered price tool. The stock traded between a low of $398.89 and a high of $412.54 during the week. The range was tight for ISRG, which is still off sharply in 2026.
Investors are watching the gap between price and the market’s outlook. ISRG finished 32.98% under its Jan. 7 high of $603.88, barely above the June 2 low of $396.68. MarketWatch put the stock down 28.54% for the year so far, with a trailing P/E close to 49.
Wall Street hasn’t slashed numbers enough to catch up with the drop in price. Median target is $575.50, which is 42% over Friday’s close. The lowest target is $366, still under the current price. Analysts tracked by WSJ/FactSet keep an “overweight” view with 19 buys, five overweights, and one sell. Q2 EPS forecast stands at $2.51, matching last month. The 2026 EPS estimate is $10.45, up from $10.05 three months back. The Wall Street Journal
The stock now trades at nearly 38.7 times forecast 2026 earnings. That’s down from its trailing multiple, but it’s still a growth valuation. The question for the market isn’t if Intuitive is growing. The question is how much growth will satisfy traders.
ISRG volume popped to 3.41 million shares on Friday, about 47% over its 65-day average. That was the same session FTSE Russell’s U.S. index reconstitution took effect following the close, a process that brings in forced trades and can cloud regular buying. FTSE Russell said the 2026 indexes go live after the U.S. market closes on June 26. The Russell U.S. indexes are switching to a semi-annual reconstitution schedule this year.
Jefferies analyst Steven DeSanctis said the rebalance is a “really massive trade” with “dramatic” turnover. Stephens analyst Melissa Roberts described Friday as a “key liquidity day.” Trading on reconstitution day is expected to reach about $150 billion. Reuters
Intuitive Surgical’s last earnings report has bulls making their case. In Q1, worldwide da Vinci and Ion procedures were up about 17%. Revenue climbed 23% to $2.77 billion, and non-GAAP EPS hit $2.50. CEO Dave Rosa said the quarter saw “expanded adoption of our da Vinci, Ion, and digital platforms.” Intuitive Surgical
Intuitive’s 2026 outlook is where things get tricky. The company said it sees da Vinci procedure volume growing 13.5% to 15.5%. It also is guiding for non-GAAP gross margin of 67.5% to 68.5%, with about a 1.0% revenue hit from tariffs included, and flagged that more tariffs could have a material impact.
Intuitive Surgical CFO Jamie Samath told analysts Q1 revenue growth outpaced procedure growth “in large part” thanks to da Vinci 5. He said U.S. da Vinci 5 use was roughly 11% higher than Xi, an important data point as investors look for higher throughput rather than just growth in system placements. Investing.com
Stocks lost ground last week, with the S&P 500 down 2% and the Nasdaq dropping 4.6% as AI names slid. The Dow was up 0.6%. The broader market tape was no help.
Markets are set for a shorter week with U.S. exchanges closed Friday, July 3, for the Independence Day holiday, Nasdaq said. Regular trading hours will stay Monday to Friday, 9:30 a.m. to 4:00 p.m. ET.
Intuitive’s next company event is the Q2 2026 earnings call on July 16, set for 1:30 p.m. PDT. The stock is looking at a basic challenge: stay above $400 after rebalancing volume drops, or show that analysts’ earnings forecasts aren’t realistic.
Related articles: NASDAQ:ISRG
