Intuitive Surgical (NASDAQ:ISRG) Posts Quarterly Earnings Results

Intuitive Surgical (NASDAQ:ISRG) issued its earnings results on Tuesday. The medical equipment provider reported $2.50 EPS for the quarter, topping the consensus estimate of $2.08 by $0.42, FiscalAI reports. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.62 billion. Intuitive Surgical had a net margin of 28.38% and a return on equity of 15.06%. The business’s revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.81 EPS.

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

• Intuitive delivered a strong quarter with Q1 revenue up 23% to $2.77B, non?GAAP operating margin of 39%, and non?GAAP EPS of $2.50, with recurring revenue representing 86% of total sales.
• Procedure and device adoption accelerated—total procedures +17% (da Vinci +16%, Ion +39%, SP +68%) and Intuitive placed 431 da Vinci systems (including 232 da Vinci 5) and 52 Ion systems, with da Vinci 5 showing higher utilization versus Xi.
• Management raised its 2026 outlook for da Vinci procedure growth to 13.5%–15.5% and nudged non?GAAP gross margin guidance higher to 67.5%–68.5%, while forecasting non?GAAP operating expense growth of 11%–14%.
• International headwinds persist—China faces weak tender activity, domestic competition and pricing pressure, and Japan remains below historical growth despite recent MHLW reimbursement gains, creating near?term uncertainty in OUS procedure growth.
• Clinical and regulatory progress supports future adoption—Mayo Clinic data showed strong diagnostic yield and safety for Ion, Intuitive received expanded FDA clearances for force?feedback instruments (broader availability expected in Q2), and ROSE/EBUS integrations are in development.

Intuitive Surgical Trading Down 3.1%

Shares of ISRG stock opened at $451.29 on Wednesday. The firm has a 50-day moving average price of $477.79 and a 200 day moving average price of $515.63. Intuitive Surgical has a twelve month low of $427.84 and a twelve month high of $603.88. The company has a market capitalization of $160.27 billion, a price-to-earnings ratio of 57.20, a PEG ratio of 3.64 and a beta of 1.68.

Analyst Upgrades and Downgrades

ISRG has been the subject of several research reports. Raymond James Financial lifted their price target on Intuitive Surgical from $603.00 to $615.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. BTIG Research reaffirmed a “buy” rating and set a $574.00 price target on shares of Intuitive Surgical in a research note on Wednesday. Evercore cut their price target on Intuitive Surgical from $550.00 to $480.00 and set a “neutral” rating for the company in a research note on Monday, April 6th. Barclays set a $712.00 price target on Intuitive Surgical and gave the stock an “overweight” rating in a research note on Monday, January 26th. Finally, Argus cut their price target on Intuitive Surgical from $630.00 to $560.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Intuitive Surgical presently has an average rating of “Moderate Buy” and a consensus price target of $596.45.

Key Stories Impacting Intuitive Surgical

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

• Positive Sentiment: Double beat on revenue and EPS; robust procedure growth (worldwide procedures ~17%, da Vinci +16%, Ion +39%) supports durable demand for systems and consumables. Reuters: Intuitive Surgical beats quarterly expectations
• Positive Sentiment: Company reiterated growth initiatives — digital innovation and broader availability of Force Feedback — which could expand procedure mix and drive longer-term consumable and software revenue. Yahoo: Q1 highlights & digital progress
• Neutral Sentiment: Analyst views remain mostly constructive (average “Moderate Buy” / several firms maintain Buy ratings) but some price targets have been trimmed ahead of Q1. These mixed analyst moves temper near-term upside. American Banking News: Broker ratings
• Negative Sentiment: Shares slipped after hours despite the beat — investors noted the full-year guidance raise was smaller than the quarterly beat implied, suggesting management expects some slowdown or is being conservative. Yahoo: Why Intuitive dropped despite beat
• Negative Sentiment: Ongoing weakness in some international markets and the fact that a handful of firms trimmed price targets before results increase execution risk for near-term revenue cadence. Yahoo: Notes on international challenges

Insider Transactions at Intuitive Surgical

In related news, EVP Myriam Curet sold 421 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total value of $208,378.16. Following the completion of the transaction, the executive vice president owned 409 shares of the company’s stock, valued at approximately $202,438.64. The trade was a 50.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gary S. Guthart sold 24,500 shares of the business’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $530.10, for a total transaction of $12,987,450.00. Following the completion of the transaction, the director directly owned 3,694 shares of the company’s stock, valued at $1,958,189.40. The trade was a 86.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 32,943 shares of company stock worth $17,279,568 in the last ninety days. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Intuitive Surgical by 24.9% during the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider’s stock valued at $1,916,000 after acquiring an additional 731 shares during the last quarter. Sivia Capital Partners LLC increased its stake in shares of Intuitive Surgical by 3.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider’s stock valued at $504,000 after acquiring an additional 34 shares during the last quarter. Schnieders Capital Management LLC. increased its stake in shares of Intuitive Surgical by 38.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 973 shares of the medical equipment provider’s stock valued at $529,000 after acquiring an additional 268 shares during the last quarter. Osterweis Capital Management Inc. acquired a new position in shares of Intuitive Surgical during the 2nd quarter valued at about $200,000. Finally, Main Street Financial Solutions LLC increased its stake in shares of Intuitive Surgical by 92.4% during the 2nd quarter. Main Street Financial Solutions LLC now owns 2,929 shares of the medical equipment provider’s stock valued at $1,592,000 after acquiring an additional 1,407 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

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.