Intuitive Surgical (NASDAQ:ISRG) Issues Earnings Results

Intuitive Surgical (NASDAQ:ISRG) released its quarterly earnings results on Thursday. The medical equipment provider reported $2.53 EPS for the quarter, topping the consensus estimate of $2.27 by $0.26, FiscalAI reports. Intuitive Surgical had a return on equity of 15.18% and a net margin of 28.38%.The business had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.72 billion. During the same period last year, the business posted $2.21 earnings per share. The company’s quarterly revenue was up 18.8% on a year-over-year basis.

Here are the key takeaways from Intuitive Surgical’s conference call:

• Intuitive delivered strong 2025 financial results—revenue rose 21% to $10.1B, pro forma operating margin ~37%, Proforma EPS up 22%, $2.5B free cash flow and $2.3B of share repurchases.
• Rapid platform adoption drove procedure growth—da Vinci procedures +18% (multi?port +17%, single?port +87%), Ion procedures +51%, and 1,721 systems placed in 2025 including 870 da Vinci 5 units, supporting higher utilization.
• Company is targeting ambulatory surgery centers and international expansion via refurbished da Vinci XIR systems and tailored economic programs to broaden access and capture ASC volume opportunities.
• 2026 outlook shows slower growth (da Vinci procedures guide 13%–15%) with margin headwinds—gross margin guide 67%–68% includes an expected ~1.2% net?revenue tariff impact and pro forma OpEx growth of 11%–15%.
• Regional risks—intensifying competition and provincial tender preferences in China reduced win rates, and Ion placements declined in Q4 (42 vs. 69 prior year), creating near?term capital and pricing pressure in those markets.

Intuitive Surgical Price Performance

Shares of NASDAQ ISRG opened at $523.99 on Friday. The business has a 50-day moving average of $562.32 and a two-hundred day moving average of $511.79. The company has a market capitalization of $187.84 billion, a price-to-earnings ratio of 66.41, a price-to-earnings-growth ratio of 4.28 and a beta of 1.67. Intuitive Surgical has a 1 year low of $425.00 and a 1 year high of $609.08.

Intuitive Surgical News Roundup

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: Q4 results beat Wall Street: Revenue and adjusted EPS topped estimates, backed by higher procedure volumes and system demand — a primary near?term driver of recurring instrument sales. Reuters: Intuitive Surgical beats quarterly estimates on demand for surgical robots
• Positive Sentiment: Analysts boost some targets and reaffirm conviction: Bernstein raised its target sharply (big upside), Raymond James and BTIG reaffirmed/outperform with higher targets — supporting upside potential from elongation of the company’s growth runway. Benzinga: Analysts revise forecasts after Q4
• Neutral Sentiment: Guidance is measured: Management expects mid?teens da Vinci procedure growth (midpoint ~14%) and 2026 gross margin around 67–68%, while flagging higher operating expenses for R&D — signaling steady growth but potential margin/operating?leverage moderation. MarketBeat: Intuitive Surgical Just Proved the Growth Engine Still Runs
• Neutral Sentiment: JURA clinical update and milestone PRs add long?term optionality: Early imaging data from the JURA feasibility study and a new 20 million?patient da Vinci milestone reinforce long?term growth narratives beyond core platforms. TipRanks: JURA feasibility study update GlobeNewswire: 20 Million Patients Benefit from da Vinci Surgery
• Negative Sentiment: Tariffs and gross?margin pressure noted: Management expects tariffs to cut gross margins (about a 1.2% headwind in 2026) and flagged some gross?margin decline vs. recent quarters — a medium?term profitability risk. Zacks: Q4 beat but gross margin declines
• Negative Sentiment: Mixed analyst moves and a few downgrades: Some firms trimmed targets or moved to in?line/hold (Evercore, Zacks), creating near?term debate over valuation vs. growth and muting upside for traders focused on short?term catalysts. The Fly: Evercore lowers price target

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ISRG shares. Robert W. Baird decreased their target price on Intuitive Surgical from $655.00 to $645.00 and set an “outperform” rating on the stock in a research note on Friday. Citigroup reissued a “neutral” rating and set a $590.00 price target (down previously from $635.00) on shares of Intuitive Surgical in a research report on Friday. Royal Bank Of Canada raised their price objective on shares of Intuitive Surgical from $625.00 to $650.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. BTIG Research reaffirmed a “buy” rating and set a $616.00 target price on shares of Intuitive Surgical in a research note on Friday. Finally, Raymond James Financial raised their price target on shares of Intuitive Surgical from $603.00 to $615.00 and gave the company an “outperform” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $617.57.

Insider Buying and Selling

In related news, insider Gary S. Guthart sold 22,806 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $570.89, for a total value of $13,019,717.34. Following the completion of the sale, the insider directly owned 2,694 shares of the company’s stock, valued at $1,537,977.66. The trade was a 89.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mark Brosius sold 4,500 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $547.36, for a total value of $2,463,120.00. Following the transaction, the senior vice president directly owned 907 shares in the company, valued at approximately $496,455.52. The trade was a 83.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 55,714 shares of company stock valued at $31,617,799 over the last three months. 0.70% of the stock is currently owned by insiders.

Institutional Trading of Intuitive Surgical

Several institutional investors and hedge funds have recently made changes to their positions in the company. Riggs Asset Managment Co. Inc. grew its stake in Intuitive Surgical by 84.2% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 70 shares of the medical equipment provider’s stock worth $38,000 after buying an additional 32 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in Intuitive Surgical in the third quarter valued at approximately $45,000. Wealth Watch Advisors INC acquired a new stake in shares of Intuitive Surgical in the third quarter valued at approximately $52,000. Triumph Capital Management purchased a new position in shares of Intuitive Surgical during the third quarter worth approximately $54,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of Intuitive Surgical during the third quarter worth approximately $70,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Company Profile

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.