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.

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.

While we acknowledge the potential of ISRG to grow, 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 100x upside potential, check out our report about this cheapest AI stock.

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