The company’s management also revised its outlook to 12% to 16% procedure volume growth for the full year 2022, compared to its earlier guidance of 11% to 15%. Although the results were upbeat, the company’s bearish commentary on the capital spending environment at the hospitals, amid inflationary headwinds and rising interest rates, didn’t sit well with the investors, weighing on its stock price. Our Intuitive Surgical Valuation of $349 per share reflects a significant 55% upside from the current levels of $225.