TD Cowen Rates Intuitive Surgical (ISRG) Buy, $485 Price Target

On October 21, 2026, TD Cowen reiterated its Buy rating on Intuitive Surgical, Inc. (NASDAQ:ISRG) while leaving its price target unchanged at $485.00. The research note provides an updated forward-looking perspective on the medical device maker as Wall Street firms adjust their outlooks following recent market activity. The stock closed at $438.00 on October 20, 2026.

ISRG Intuitive Surgical, Inc.

$438 ▼ -22.06% year to date

1M 3M YTD

Daily close · Oct 20, 2026

TD Cowen's Call on Intuitive Surgical

In its research note published on October 21, 2026, TD Cowen maintained a Buy rating on Intuitive Surgical, Inc. with a $485.00 target price. The firm kept the target flat compared to its prior level.

Intuitive Surgical, Inc. Stock Down 0.5%

Intuitive Surgical shares recently traded around $424.71 as of October 21, 2026, down about 3.0% from their prior close of $438.00. The recent price sits about 8.1% above its 50-day moving average of $392.76, while resting about 3.2% below its 200-day moving average of $438.97. The stock trades roughly 29.7% below its 52-week high of $603.88 and about 29.3% above its 52-week low of $328.57. At current trading levels, the shares sit roughly 11.2% below the consensus mean price target of $478.53.

Recent Earnings

For the trailing twelve months, Intuitive Surgical generated $11.03 billion in revenue and reported basic earnings of $8.85 per share. The company posted a net profit margin of 28.4% alongside a return on equity of 17.4% and year-over-year revenue growth of 18.5%.

Dividend

Intuitive Surgical maintains a dividend payout ratio of 0.0% and does not currently pay a dividend to shareholders.

Insider Buying and Selling at Intuitive Surgical, Inc.

Company insiders completed several transactions prior to the rating update. On August 21, 2026, officer Mark Preston Brosius sold 154 shares valued at $59,439.00. Brosius later sold 69 shares valued at $24,671.00 on September 9, 2026, and another 48 shares valued at $17,141.00 on September 11, 2026. Separately, officer Fredrik Widman sold 1,089 shares at an average price of $374.44 on September 15, 2026, for a total value of $407,765.00.

Analysts Set New Price Targets

Wall Street firms updated their views on the stock on October 21, 2026. Evercore ISI Group maintained its In-Line rating and lowered its price target from $400.00 to $385.00. Wells Fargo maintained an Overweight rating and adjusted its target from $487.00 to $486.00. Barclays maintained an Overweight rating and lifted its target from $485.00 to $500.00. RBC Capital maintained an Outperform rating and trimmed its target from $575.00 to $550.00. Overall, the stock carries a consensus buy recommendation from 30 analysts with a mean price target of $478.53.

About Intuitive Surgical

Intuitive Surgical, Inc. is a healthcare company based in Sunnyvale, California, that designs and builds robotic-assisted surgical systems and related instruments. Its technology helps medical professionals perform complex minimally invasive procedures across hospitals worldwide.

Bottom Line

Investors will continue monitoring broader healthcare sector trends and analyst revisions as the company approaches its upcoming financial reports. The wide gap between current trading levels and analyst targets highlights ongoing debate over the valuation of major medical technology firms.