On July 23, Intuitive Surgical fell 3.22% in regular trading, trading at $329.58 per share, with turnover of approximately $197 million.

On the news front, Argus on July 22 sharply lowered its price target on the company from $560 to $420, following Piper Sandler's earlier cut to $470 and Raymond James' reduction to $483 from $577. The wave of target price downgrades has continued to weigh on the stock. Intuitive Surgical reported Q2 adjusted EPS of $2.80, beating the consensus estimate of $2.50 by 12%, while revenue of $2.89 billion also exceeded expectations of $2.83 billion. However, the company maintained its full-year da Vinci procedure growth outlook of 13.5% to 15.5%, unchanged from prior guidance. The decision not to raise guidance despite the earnings beat disappointed investors expecting an upward revision. Additionally, US da Vinci procedure growth decelerated to 12% in Q2 from 14% in Q1, partly attributed to deferred elective procedures linked to Affordable Care Act premium subsidy changes and GLP-1-related pressure on bariatric volumes. The stock has declined approximately 30% year-to-date amid sustained valuation compression.

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