Intuitive Surgical Fell 6% Last Week. Here’s Where the Stock Could Be Headed in 2026

Key Stats for Intuitive Surgical Stock

• Past-Week Performance: -6%
• 52-week Range: $425 to $609
• Valuation Model Target Price: $734
• Implied Upside: 45.6% over 2.9 years

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What Happened?

Intuitive Surgical, Inc. stock fell about 6% over the past week, sliding to roughly $500 per share as shares moved lower late in the period and traded closer to the lower end of their recent range.

The stock declined mainly due to institutional selling and position trimming following earlier gains. Principal Financial Group reduced its stake by 2.3%, cutting holdings to 558,151 shares worth about $249.62 million, while Thrivent Financial trimmed its position by 14%, selling 61,744 shares, adding meaningful selling pressure during the week.

Foundations Investment Advisors LLC reduced its exposure by 93.3%, selling 37,895 shares, marking the most aggressive pullback among disclosed holders and reinforcing the broader rebalancing trend.

Analyst updates remained supportive but were not enough to offset the selling. HSBC raised its price target to $653 from $644 and maintained a Buy rating, implying roughly 25% upside from current levels.

While the increase reinforced confidence in the company’s long-term growth outlook, the modest adjustment pointed to more measured near-term expectations, which limited incremental buying interest during the week.

Not all positioning moved in the same direction. Atlantic Union Bankshares Corp increased its stake by 19.3%, adding 3,676 shares to bring total holdings to 22,759 shares valued at about $10.18 million.

The major development is that Intuitive secured FDA 510(k) clearance for the da Vinci 5 to perform select cardiac procedures, marking a meaningful expansion in robotic-assisted surgery. Training programs and limited U.S. site partnerships will roll out in 2026.

Overall, the week reflected portfolio rebalancing, with trimming by larger holders outweighing selective buying and keeping pressure on the stock.

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Is Intuitive Surgical Undervalued?

Under valuation model assumptions, the stock is modeled using:

• Revenue Growth (CAGR): 13.8%
• Operating Margins: 38.7%
• Exit P/E Multiple: 50.3x

Based on these inputs, the model estimates a target price of $734, implying 45.6% total upside from current levels over the next 2.9 years.

Over the next year, performance is likely shaped by procedure volume growth across core surgical categories, where higher utilization directly supports recurring instrument and accessory revenue with strong incremental margins.

System placements and upgrades remain an important factor, particularly as hospitals evaluate adoption of the da Vinci 5 platform, which can support higher average selling prices and reinforce the company’s technology leadership.

Margin performance remains closely tied to revenue mix and scale, as faster growth in recurring revenue and manufacturing efficiencies can offset elevated R&D investment tied to platform expansion.

At current levels, Intuitive Surgical appears undervalued, with future results likely driven by sustained procedure growth, da Vinci 5 adoption, and expansion of high-margin recurring revenue rather than a short-term valuation reset.

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