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Intuitive Surgical Inc. (ISRG)

Updated: Sep 24, 2023

Recommendation (Mar 2020)

Surgery as a means to investigate and treat pathology dates back many millennia and continues to be an essential branch of medicine. There is widespread agreement on the benefits of robot-assisted surgery (RAS), driving a growing demand from hospitals worldwide. RAS’s complex and life-critical nature yields a winner-take-most landscape. The clear leader in this space is Intuitive Surgical – and has been over the past two decades.

The two narratives presented in this report yield an intrinsic value range of $474 to $548. At $438, the stock offers an 8-20% margin of safety. I recommend a Buy.

TSR: With a 7-year hold period, and a EV/NOPAT multiple contraction from 47 (2019) to 42 (2026), yields a TSR of 13% CAGR and a 240% total gain.

For the full report, see link below

Intuitive Surgical Investment Report
Download PDF • 306KB

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