Analysts Intuitive Surgical (ISRG) Boost Price Target on Da Vinci 5 Launch

Intuitive Surgical, Inc. (NASDAQ:ISRG) ranks among the top robotics to buy according to analysts. As the company’s da Vinci 5 surgical system moves into its global launch phase, Bernstein SocGen Group maintained its Outperform rating on Intuitive Surgical, Inc. (NASDAQ:ISRG) and increased its price target from $675 to $685 on July 23.

Analysts Intuitive Surgical (ISRG) Boost Price Target on Da Vinci 5 Launch

With revenue of $2.44 billion, the company reported impressive second-quarter earnings, outpacing consensus projections by 4% and indicating 21% growth. Even though worldwide da Vinci systems placements missed estimates by 4%, adjusted earnings per share increased by 23% to $2.19.

During the quarter, Intuitive Surgical’s da Vinci 5 placements increased to 180 units, up from 147 in the first quarter, and procedures gained 17% globally, which was slightly higher than the consensus estimate. In the United States, Intuitive Surgical, Inc. (NASDAQ:ISRG) is moving from a limited to a broad launch after da Vinci 5 was approved in March 2024. This will let clients to upgrade their current fleets to the new system.

Intuitive Surgical, Inc. (NASDAQ:ISRG) is dedicated to developing, manufacturing, and marketing robotic products that utilize minimally invasive surgery to improve clinical outcomes for patients.

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Disclosure: None. This article is originally published at Insider Monkey.