Intuitive Surgical shares fall as procedure growth slows despite Q2 earnings beat

Intuitive Surgical (ISRG) shares dropped about 11% after the company reported Q2 results that beat Wall Street expectations but revealed slowing US procedure growth. Q2 revenue of $2.89 billion rose 19% year over year and topped consensus of $2.82 billion, while adjusted EPS of $2.80 exceeded the $2.51 estimate.

Why it matters: US procedure growth decelerated to 12% from 14% in Q1, attributed to deferred treatments and the expiration of enhanced ACA premium subsidies, prompting a cautious full-year outlook with expected growth closer to the midpoint of the 13.5%-15.5% range.