Intuitive Surgical Inc (NASDAQ:ISRG) on Tuesday posted better-than-expected financial results for the third quarter.
Intuitive Surgical reported revenue of $3.05 billion for the quarter, beating analyst estimates of $2.91 billion, according to Benzinga Pro. The robotic-assisted surgery company reported third-quarter adjusted earnings of $3.00 per share, beating estimates of $2.64 per share.
"Our strong performance this quarter was marked by broad-based adoption across our multi-port, single-port, and Ion platforms, with customers using our systems to perform, on average, over 10,000 procedures per day throughout the period," said Dave Rosa, CEO of Intuitive Surgical.
Intuitive Surgical expects full-year 2026 worldwide da Vinci procedures to increase approximately 14% to 15%, and gross profit margin to be between 68.7% and 69.3% of revenue. The company previously guided for 2026 da Vinci procedures growth of 13.5% to 15.5%.
Intuitive Surgical shares fell 5.8% to trade at $413.12 on Wednesday.
These analysts made changes to their price targets on Intuitive Surgical following earnings announcement.
- Baird analyst David Rescott maintained the stock with an Outperform rating and raised the price target from $513 to $550.
- Mizuho analyst Anthony Petrone maintained the stock with a Neutral and lowered the price target from $415 to $400.
- RBC Capital analyst Kendall Au maintained the stock with an Outperform rating and cut the price target from $575 to $550.
- Barclays analyst Christopher Pasquale maintained the stock with an Overweight rating and raised the price target from $485 to $500.
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