Intuitive Surgical stock: TD Cowen keeps USD 485.00 target for shares

Published on 10/21/2026 at 15:53 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

TD Cowen kept a USD 485.00 target on October 19, 2026. Intuitive Surgical stock costs EUR 381.45 at Lang & Schwarz on October 21, 2026.

Analyst target and quarterly growth

TD Cowen reiterated a Buy rating and USD 485.00 target on October 19, 2026.
Third-quarter 2026 revenue reached USD 3.05 billion, up 22.00 percent year over year.
Intuitive Surgical stock costs EUR 381.45 at Lang & Schwarz on October 21, 2026 at 3:39 p.m. CEST.
Full-year 2026 non-GAAP gross margin is guided to 68.70 to 69.30 percent.

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Intuitive Surgical (ISIN US46120E6023) retains a USD 485.00 target from TD Cowen, which reiterated its Buy rating on October 19, 2026, putting the target 14.48 percent above the Nasdaq price of USD 423.66 at the time of the latest quote. According to Investing.com, the firm also lowered its 2027 and 2028 estimates. Intuitive Surgical was trading at EUR 381.45 at Lang & Schwarz on October 21, 2026 at 3:39 p.m. CEST.

Revenue reaches USD 3.05 billion

Intuitive's third-quarter 2026 revenue rose 22.00 percent year over year to USD 3.05 billion from USD 2.51 billion. The company placed 546 da Vinci systems, compared with 427 in the third quarter of 2025, while worldwide da Vinci and Ion procedures grew approximately 15.00 percent.

GAAP net income attributable to Intuitive Surgical fell to USD 522.80 million from USD 704.00 million in the third quarter of 2025. The result included a USD 450.00 million pretax litigation charge tied to an antitrust settlement. The company reported non-GAAP diluted earnings per share of USD 3.00, compared with USD 2.40 a year earlier. These figures came from the company's October 20, 2026 release by Intuitive Surgical.

Margins and valuation set the test

For full-year 2026, Intuitive expects worldwide da Vinci procedure growth of 14.00 to 15.00 percent and non-GAAP gross profit margin of 68.70 to 69.30 percent. The September 30, 2026 quarter produced a non-GAAP gross margin of 69.90 percent, while GAAP income from operations was USD 592.60 million.

The Nasdaq-listed company had USD 6.80 billion in cash, cash equivalents, and investments as of September 30, 2026. The latest primary-market quote was USD 423.66 at 9:52 a.m. ET on October 21, 2026, with a market capitalization of USD 149.7 billion and a price-to-earnings ratio of 51.07.

What comes next for the valuation?

The analyst target remains above the latest Nasdaq quote, while the operating figures point to continued procedure growth. The key counterweight is the litigation charge, which reduced GAAP earnings in the third quarter even as adjusted earnings rose.

Price position and market frame

Intuitive Surgical's 52-week Nasdaq range is USD 328.57 to USD 603.88. The current euro quotation is a separate German trading indication and is not combined with the dollar valuation figures.

Investor view

The October 20, 2026 results place revenue growth, procedure volumes, and the 2026 margin outlook alongside the analyst target. The valuation discussion therefore turns on how consistently Intuitive can convert system placements into recurring instruments and services revenue. The further course of trading is shown by the continuously updated real-time quote of Intuitive Surgical stock.