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Oppenheimer upgrades Intuitive Surgical to Outperform with $500 target
The medtech company is developing AI for robotic surgery, while shares have fallen 29.1% year-to-date, and its Q2 revenue rose to $2.9 billion.
Oppenheimer upgraded Intuitive Surgical (ISRG) from Perform to Outperform, setting a $500 price target that implies 24.6% upside from current levels, according to Yahoo Finance.
The analyst team expects Intuitive to keep a leading position as robotic surgery continues to expand, even as competition increases, and pointed to the company’s work on AI as a capability stack built from real-world surgical data to support vision-language and reasoning for complex surgical questions.
Intuitive also faces multiple risks, Oppenheimer noted, including concerns that could reduce elective surgery volumes, a lingering product recall tied to certain da Vinci components, and rising competition. Shares have declined 16.8% over the past 52 weeks and are down 29.1% year-to-date.
On results, Intuitive Surgical reported second-quarter revenue of $2.89 billion, up 18.5% year-over-year, ahead of Wall Street’s $2.82 billion expectation, with instrument and accessory sales rising 17.7% year-over-year to $1.73 billion. Yahoo Finance also noted the stock’s forward non-GAAP price-to-earnings multiple of 37.18, above an industry average of 19.60.