Intuitive Surgical, Inc.
This report evaluates the durability of the robotic-surgery franchise and the valuation justified amid emerging competition.
What we found.
A recurring business
Clinical training and hospital integration support recurring business; roughly 85% of quarterly revenue came from recurring categories in the report’s calculation.
The next hospital customer
Competing systems could win new hospital customers or pressure instrument economics before materially displacing existing installations.
Growth and demand pressure
Revenue increased 19%, while slowing U.S. elective-procedure growth raised questions about the duration of insurance-related pressure.
Read the full analysis.
The report’s base estimate was $324.95 per share versus $350.06 on July 21, 2026. Even after the substantial share-price decline, the valuation required continued growth and improved operating margins.
This page summarizes research published July 22, 2026. Figures and valuations reflect that report’s assumptions and reference dates, and may not be updated. Valuation estimates are not price targets or predictions. Read the full report for the analysis, assumptions, and disclosures.