Intuitive Surgical Inc

ISRG: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$137.00	Pns	Mlrthyvcc

Robust Procedure Growth in the U.S. for Intuitive in Second Quarter but Shares Expensive

Alex Morozov

Jul 21, 2021

Intuitive Surgical continued on the strong procedure recovery path in the second quarter, particularly in the United States, which led the firm to revise once again its full-year procedure guidance to 27%-30%, up 450 basis points from the previous midpoint level. We are raising our fair value estimate to $525 per share to reflect stronger-than-expected procedure growth acceleration, but still consider shares to be materially overvalued at current levels. Our wide moat rating is unchanged.

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