Intuitive Surgical, Inc.
- Open
- 369.00
- Day high
- 382.41
- Day low
- 368.25
- Prev close
- 369.25
- Volume
- 2.0M
- Mkt cap
- $131.4B
- P/E (TTM)
- 42.0
- EPS (TTM)
- $8.85
- P/B
- 7.2
- P/S
- 11.9
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$4.6M over the last 3 months (0 open-market buys, 12 sales)
- 🏛Institutions mixed (13F)
Intuitive Surgical, Inc. (ISRG) is a Healthcare company listed on NASDAQ. The stock is down 15% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 12 sales (SEC Form 4). Drillr has 2 published research articles covering ISRG.
Intuitive Surgical, Inc. (ISRG) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 19 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ISRG earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 16, 2026 | $2.49 | $2.80 | +12.6% | $2.9B | +2.1% |
| Apr 21, 2026 | $2.12 | $2.50 | +17.8% | $2.8B | +5.6% |
| Jan 22, 2026 | $2.28 | $2.53 | +10.9% | $2.9B | +3.4% |
| Oct 21, 2025 | $2.00 | $2.40 | +20.2% | $2.5B | +4.0% |
| Jul 22, 2025 | $1.94 | $2.19 | +13.1% | $2.4B | +3.7% |
| Apr 22, 2025 | $1.74 | $1.81 | +3.8% | $2.3B | +3.0% |
| Jan 23, 2025 | $1.76 | $2.21 | +25.2% | $2.4B | +7.4% |
| Oct 17, 2024 | $1.63 | $1.84 | +12.6% | $2.0B | +1.7% |
| Jul 18, 2024 | $1.54 | $1.78 | +15.2% | $2.0B | +1.9% |
| Apr 18, 2024 | $1.41 | $1.50 | +6.2% | $1.9B | +0.9% |
| Jan 23, 2024 | $1.48 | $1.60 | +8.3% | $1.9B | +2.2% |
| Oct 19, 2023 | $1.41 | $1.46 | +3.8% | $1.7B | -1.2% |
ISRG insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 21, 2026 | Brosius Markofficer: EVP & Chief Mfg and Supply Cha | Sell | 77 | $396.37 |
| Aug 19, 2026 | Brosius Markofficer: EVP & Chief Mfg and Supply Cha | Sell | 77 | $390.67 |
| Aug 12, 2026 | GUTHART GARY Sdirector | Sell | 10,000 | $400.00 |
| Aug 11, 2026 | Ladd Amy Ldirector | Sell | 72 | $393.10 |
| Aug 11, 2026 | Ladd Amy Ldirector | Sell | 400 | $379.00 |
| Aug 10, 2026 | LOEB GARYofficer: EVP & Chief Legal and Complian | Sell | 400 | $379.00 |
| Jul 31, 2026 | Brosius Markofficer: EVP & Chief Mfg and Supply Cha | Sell | 28 | $346.83 |
| Jul 29, 2026 | Brosius Markofficer: EVP & Chief Mfg and Supply Cha | Sell | 28 | $344.00 |
| Jul 13, 2026 | Rosa David J.director, officer: Chief Executive Officer (CEO) | Tax | 947 | $411.55 |
| Jul 13, 2026 | Rosa David J.director, officer: Chief Executive Officer (CEO) | Option | 1,910 | — |
| Jun 12, 2026 | Brosius Markofficer: EVP & Chief Mfg and Supply Cha | Sell | 25 | $414.13 |
| Jun 12, 2026 | Brosius Markofficer: EVP & Chief Mfg and Supply Cha | Sell | 23 | $412.16 |
| Jun 10, 2026 | Brosius Markofficer: EVP & Chief Mfg and Supply Cha | Sell | 23 | $420.12 |
| Jun 10, 2026 | Rosa David J.director, officer: Chief Executive Officer (CEO) | Option | 1,358 | — |
| Jun 10, 2026 | Rosa David J.director, officer: Chief Executive Officer (CEO) | Tax | 674 | $426.61 |
Source: ISRG SEC Form 4 filings, latest Aug 21, 2026. For informational purposes only — not investment advice.
See the full ISRG insider & 13F page →ISRG research & analysis
[ISRG] Intuitive Surgical Thesis 2026: da Vinci 5 Refresh Cycle Defends Against Medtronic Hugo + J&J Ottava
Intuitive Surgical FY2025 revenue ~$9B (+18%) with ~2.7M procedures (+17% YoY) across urology + general surgery + gynecology + thoracic + cardiac. da Vinci 5 (March 2024 launch) driving multi-year platform refresh cycle — Xi → 5 upgrades plus new placements. Installed base ~9,500 systems globally. Razor/blade economics: Instruments+Accessories 58% of revenue scales with procedures. Ion bronchoscopy platform reached $220M (+30% growth, 120K procedures). FY2026 thesis: da Vinci 5 + procedure expansion (general surgery + emerging cardiac/thoracic) + Ion scaling drives ~$11-12B revenue by FY2027; key competitive risks: Medtronic Hugo FDA approval pending (already commercial international, ~20-30% pricing discount vs da Vinci), J&J Ottava launch FY2027-2028 ironically founded by Frederic Moll (Intuitive co-founder) via Auris Health acquired by J&J.
NVDA Leads $1T Robotics Race — 6 Stocks Positioned to Win on AI and Autonomous Tech
Anchored in a 2026 report on Nvidia AI, autonomous trucking, and $1T robotics growth, this analysis ranks NVDA, TSLA, ISRG, DE, PATH, and PLTR as key winners. Nvidia leads with GPU dominance, while Tesla's Optimus eyes trillion-dollar potential amid scrutiny.
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Intuitive Surgical, Inc. company profile
Overview
Intuitive Surgical, Inc. (NASDAQ:ISRG) is a pioneering medical technology company founded in 1995 and headquartered in Sunnyvale, California. The company went public in 2000 and has since established itself as the global leader in robotic-assisted minimally invasive surgery. Intuitive Surgical revolutionized surgical procedures by developing sophisticated robotic systems that enable surgeons to perform complex operations through tiny incisions with enhanced precision, visualization, and control. Today, the company operates a global installed base of over 10,000 surgical systems and has facilitated millions of procedures worldwide, fundamentally transforming how surgeries are performed across multiple medical specialties.
Business
Intuitive Surgical operates in the robotic-assisted surgical systems industry, which sits at the intersection of medical devices, robotics, and digital health technology. The company's core business revolves around developing, manufacturing, and supporting advanced robotic surgical platforms that enable minimally invasive procedures. The company's flagship product is the da Vinci Surgical System, a sophisticated robotic platform that allows surgeons to operate through small incisions using wristed instruments controlled from a console. The system provides surgeons with enhanced 3D visualization, tremor filtration, and precise instrument control that surpasses human hand capabilities. The latest generation, da Vinci 5, features four orders of magnitude greater processing power than previous versions and includes advanced capabilities like force feedback technology and improved imaging systems. Beyond the traditional multi-port da Vinci systems, Intuitive Surgical has expanded its portfolio to include specialized platforms. The Ion endoluminal system extends the company's reach into diagnostic procedures, specifically enabling minimally invasive lung biopsies through flexible robotic navigation of the bronchial tree. The da Vinci SP (Single Port) system allows surgeons to perform procedures through a single small incision, further reducing surgical trauma. The company's revenue streams can be categorized into three main segments: 1. Systems revenue (approximately 15-20% of total revenue) from the sale and lease of robotic platforms, 2. Instruments and accessories (approximately 65-70% of total revenue) from the consumable tools used in each procedure, and 3. Service revenue (approximately 15-20% of total revenue) from maintenance, training, and support services. Recurring revenue from instruments, accessories, and services represents approximately 85% of total revenue, providing a stable and growing income stream.
Revenue model
Intuitive Surgical operates on a razor-and-blade business model, similar to companies like Gillette or printer manufacturers. The company generates revenue through multiple complementary streams that create a self-reinforcing cycle of growth and customer retention. The primary revenue driver is the sale of instruments and accessories, which are consumable items that must be replaced after a limited number of uses (typically 10-18 procedures depending on the instrument type). These generate approximately 65-70% of total revenue and provide predictable, recurring income that scales directly with procedure volume. Each robotic procedure requires multiple specialized instruments, creating substantial per-procedure revenue. Systems revenue comes from the sale or lease of the robotic platforms themselves, ranging from approximately $1.5-2.5 million per system depending on configuration and market. While this represents a smaller portion of total revenue (15-20%), it establishes the installed base that drives future recurring revenue. The company increasingly offers flexible leasing arrangements and upgrade programs to reduce customer capital requirements and maintain competitive positioning. Service revenue includes maintenance contracts, training programs, and technical support, representing 15-20% of total revenue. These contracts typically span multiple years and provide stable income while ensuring optimal system performance and customer satisfaction. The company's paying customers are primarily hospitals, surgery centers, and healthcare systems worldwide. These institutions invest in robotic surgical systems to attract top surgeons, improve patient outcomes, reduce complications, and potentially increase procedure volumes through enhanced capabilities. Several factors influence Intuitive Surgical's margins and profitability. Positive margin drivers include the company's dominant market position allowing premium pricing, economies of scale in manufacturing as volumes increase, the recurring nature of instrument sales, and the high switching costs that create customer stickiness. Negative margin pressures include increasing competition from companies like Medtronic and Johnson & Johnson, potential healthcare cost containment pressures, the substantial R&D investments required to maintain technological leadership, and the capital-intensive nature of manufacturing sophisticated robotic systems. Additionally, the company faces geographic margin variations, with international markets often requiring different pricing strategies and facing varying reimbursement environments.
Competitive moat
Intuitive Surgical possesses a strong but potentially narrowing competitive moat built on several key advantages that have sustained its market leadership for over two decades. The company's primary moat stems from its massive installed base network effects. With over 10,000 systems installed globally, Intuitive Surgical has created a self-reinforcing ecosystem where surgeons trained on da Vinci systems prefer to continue using them, hospitals invest in maintaining their existing platforms, and the large procedure volume (over 2.6 million procedures annually) generates continuous data for system improvements. This installed base creates substantial switching costs, as hospitals would need to retrain surgical teams, modify workflows, and potentially face surgeon resistance when considering alternative platforms. The company's technological leadership and patent portfolio provide additional protection. Intuitive Surgical holds thousands of patents covering robotic surgical technologies, and its continuous R&D investment (representing a significant portion of revenue) maintains its innovation edge. The recently launched da Vinci 5 system demonstrates this commitment, featuring advanced capabilities like force feedback technology and dramatically improved processing power. Regulatory barriers also strengthen the moat. The FDA approval process for robotic surgical systems is lengthy, expensive, and requires extensive clinical data, creating high barriers for new entrants. Additionally, the company's established relationships with regulatory bodies worldwide facilitate faster approval of new products and indications. However, this moat faces increasing challenges. Competitive threats are emerging from well-funded companies like Medtronic (Hugo system), Johnson & Johnson (Ottava platform), and various startups developing specialized robotic systems. Some competitors are pursuing different approaches, such as open platforms or lower-cost alternatives, which could appeal to price-sensitive customers. Additionally, the company faces potential disruption from emerging technologies like AI-powered surgical assistance, alternative minimally invasive techniques, and new therapeutic approaches (such as GLP-1 drugs reducing bariatric surgery demand). The increasing commoditization of robotic components and the entry of technology giants with substantial resources could also erode Intuitive Surgical's technological advantages over time.
Risks & safety
Intuitive Surgical demonstrates a strong margin of safety with excellent financial health and reasonable valuation metrics despite premium pricing. Financial Strength: • Cash position: $2.6 billion in cash and short-term investments with zero debt • Current ratio: 4.98, indicating strong liquidity • Free cash flow: $465 million in Q1 2025, demonstrating consistent cash generation • No solvency risk given debt-free balance sheet and strong cash flows Valuation Metrics: • P/E ratio: 63.4x (premium but justified by growth and market position) • EV/EBITDA: 60.7x (elevated due to high-growth, asset-light model) • Price-to-book: 10.4x (reflects intangible value of market position and technology) • Graham number suggests potential overvaluation at current levels Other Considerations: • Recurring revenue model provides earnings stability and predictability • Strong competitive position reduces business risk despite high valuation multiples • Potential headwinds from increasing competition and economic pressures on healthcare spending • Currency and tariff exposure could impact near-term margins
Recent development
Over the past few years, Intuitive Surgical has executed several strategic initiatives to maintain its market leadership and expand its addressable market. The most significant development has been the launch of the da Vinci 5 platform, which began in 2024 and represents a generational leap in robotic surgical technology. This next-generation system features dramatically improved processing power, advanced force feedback technology, enhanced 3D visualization, and better ergonomics. By Q1 2025, the company had placed 362 da Vinci 5 systems with over 2,500 surgeons performing more than 32,000 procedures. The company has also focused on platform diversification beyond traditional multi-port surgery. The Ion endoluminal system has shown remarkable growth with 58% procedure growth in Q1 2025, expanding Intuitive Surgical's presence in diagnostic procedures and lung interventions. The da Vinci SP (Single Port) system has gained traction with 94% procedure growth, particularly in markets like Korea and with recent regulatory approvals expanding its global reach. Geographic expansion has been another key strategic priority. The company has strengthened its international presence through direct acquisitions, including the da Vinci business in Italy, Spain, and Portugal. Strong growth in emerging markets like India and Taiwan demonstrates the global appetite for robotic surgical technology. The company has also established local manufacturing capabilities in China to better serve that market despite facing increased competition from domestic players. Digital transformation initiatives have become increasingly important, with the company developing comprehensive digital ecosystems including surgical simulators, mobile applications for surgeons, and the Intuitive Hub platform that provides data analytics and workflow optimization. These digital tools enhance the value proposition of Intuitive Surgical's platforms while creating additional touchpoints with customers. The company is also investing heavily in artificial intelligence and machine learning capabilities that will be integrated into future system updates.
ISRG company profile · for informational purposes only — not investment advice.
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