BTIG Raises Intuitive Surgical (ISRG) Price Target, Maintains Buy Rating

Intuitive Surgical, Inc. (NASDAQ:ISRG) is one of the Best Non-Mega Cap NASDAQ Stocks to Buy Right Now. BTIG analyst Ryan Zimmerman has raised the firm’s price target on Intuitive Surgical, Inc. (NASDAQ:ISRG) to $566 from $542 while reiterating a Buy rating ahead of the company’s second-quarter earnings report. The adjustment comes as part of a broader outlook on the MedTech sector, which has faced pressure in recent months.

BTIG Raises Intuitive Surgical (ISRG) Price Target, Maintaining Buy Rating

A medical team performing minimally invasive surgery with a da Vinci Surgical System.

In a research note to clients, Zimmerman highlighted that healthcare lagged the broader market in Q2, with MedTech stocks continuing to struggle early into the third quarter. Concerns over Medicaid reductions and potential hospital closures, stemming from recent legislative changes, have cast a shadow over the group, contributing to cautious investor sentiment.

BTIG believes, however, that these fears may be exaggerated. While the upcoming earnings season is expected to produce uneven results, the firm sees conditions that could support a rebound. Inflation remains contained, currency exchange rates have become more favorable, and equity markets are near record highs, all of which could provide a tailwind to medical technology names.

Within this mixed backdrop, Intuitive Surgical, Inc. (NASDAQ:ISRG) stands out for its consistent performance and robust fundamentals. The maker of robotic-assisted surgical systems is seen as well-positioned to weather sector-specific concerns, justifying BTIG’s upward revision. Investors will be watching closely to see if the company can deliver results strong enough to reinforce its premium valuation.

While we acknowledge the potential of ISRG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ISRG and that has a 100x upside potential, check out our report about the cheapest AI stock.

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