Intuitive Surgical

At the Wells‑Fargo conference, Intuitive Surgical reported a slowdown in growth of U.S. procedure volumes but reaffirmed its guidance for global procedure growth of 13.5–15.5% and expects results near the midpoint. The company reported robust revenue, margin and free‑cash‑flow growth in the first half and highlighted support from system upgrades, the launch of the da Vinci 5, expansion into ambulatory surgery centers, and AI and software offerings. Competitive pressure from new market entrants and challenges in China, as well as a decline in bariatric procedures, are cited as headwinds; the operating margin target remains 35–40% and significant share buybacks have been carried out. » Plus sur de.investing.com

Intuitive Surgical's growth has slowed from post-pandemic highs as new competitors like Medtronic and Johnson & Johnson enter the surgical-robotics market, though da Vinci placements rose to 468 in Q2 2026. Surgeries using da Vinci increased 16% year over year, and roughly 75% of revenue now comes from services and instruments, creating annuity-like income. Valuation multiples are below five-year averages after a roughly 40% drawdown, making the stock potentially attractive for investors who can tolerate high volatility. » Plus sur finance.yahoo.com

TCW's Q2 2026 investor letter highlights Intuitive Surgical, noting solid quarterly results, revenue and Da Vinci procedure growth above estimates, but weaker system placements in China and Japan. ISRG repurchased 2.3M shares for $1.1B in 1Q26 and management raised 2026 guidance, yet shares have lagged amid negative sentiment toward medtech and high-growth multiples. TCW expects further penetration from the early rollout of Da Vinci 5 and cites a 20-year lead and strong competitive moat, remaining constructive on the stock. » Plus sur finance.yahoo.com