Intuitive Surgical Stock Tumbles Over 10% On Friday After Q2 Earnings, Draws Multiple Price Target Cuts

Intuitive Surgical (ISRG) shares tumbled over 10% and hit 30-month lows in Friday's premarket following the company's second-quarter earnings report, trading near the $359 level at open. Analysts cut price targets to a range of $400 to $685, with Citigroup lowering its target to $500 from $590 and removing the stock from its 90-day upside catalyst watch.

The company reported Q2 earnings per share of $2.80, beating the consensus estimate of $2.51, and revenue of $2.89 billion, slightly above the estimated $2.82 billion. However, JPMorgan noted that in-line procedure guidance overshadowed gains, while Mizuho cited slowdowns in da Vinci procedure growth as a headwind.