In a report released yesterday, Patrick Wood from Morgan Stanley maintained a Buy rating on Intuitive Surgical, with a price target of $650.00.
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Patrick Wood has given his Buy rating due to a combination of factors that highlight Intuitive Surgical’s strong performance and future potential. The company reported an exceptional third quarter, alleviating investor concerns about stagnant utilization in the US and softness overseas. Utilization rates improved significantly, with a 4% increase in the US and an 8% rise internationally, surpassing expectations.
Additionally, system placements were robust, with 427 gross placements, exceeding market predictions. The ability to re-place traded-in systems presents a mid-term advantage, and the average selling price of systems increased, indicating strong pricing power. The company’s expansion into new areas such as cardiac and alternative sites of care, alongside promising incremental catalysts for 2026 and beyond, supports the optimistic outlook. Consequently, Patrick Wood maintains an Overweight rating with a $650 price target.
In another report released yesterday, Piper Sandler also reiterated a Buy rating on the stock with a $610.00 price target.
ISRG’s price has also changed moderately for the past six months – from $478.740 to $527.030, which is a 10.09% increase.