Intuitive Surgical, Inc.
ISRG · NASDAQ
Company research
Intuitive Surgical, Inc. (NASDAQ: ISRG) is the global pioneer and undisputed leader in robotic-assisted minimally invasive surgery, founded in 1995 and headquartered in Sunnyvale, California. The company develops, manufactures, and markets its flagship da Vinci Surgical System — the world's most widely adopted robotic surgical platform — along with the Ion endoluminal system for minimally invasive lung biopsies, and a broad suite of proprietary instruments, accessories, and digital solutions serving surgical specialties including urology, gynecology, cardiothoracic, and general surgery. Intuitive operates a highly recurring razor-and-blade business model, with approximately 75–78% of its $10.1 billion in 2025 revenue derived from instruments, accessories, and service contracts tied to its installed base of over 10,000 systems deployed across 85+ countries. Under the leadership of CEO David J. Rosa, the company employs approximately 17,000 people globally and commands a market capitalization of approximately $134 billion, underpinned by significant competitive moats including high hospital switching costs, deep surgeon training lock-in, and a robust intellectual property portfolio.
Research reports
Sahm Capital · February 15, 2026How Strong Procedure Growth and Capital Returns at Intuitive Surgical (ISRG) Have Changed Its Investment Story
Recaps ISRG’s stronger-than-expected da Vinci procedure growth and completion of a US$7.95 billion buyback, projecting revenue of US$13.4 billion and earnings of US$3.7 billion by 2028 and estimating fair value of US$596.36 (about 23% upside), while highlighting hospital capital-budget constraints, regulatory delays in Japan and Europe, and margin pressure as key risks that could temper the bullish narrative.
Zacks Investment Research (via Nasdaq.com) · February 4, 2026Can Intuitive Surgical Sustain Robust Top-line Growth in 2026?Analyzes ISRG’s 2025 results—20.5% revenue growth to US$10.1 billion, EPS up 21.7%, and 3.1 million patients treated—with emphasis on da Vinci 5 adoption and 2026 guidance for 13–15% procedure growth, concluding that despite a premium forward P/E of 47 and a Value Score of F, the stock’s fundamentals and consensus 12.1% expected earnings growth support a Zacks Rank #1 (Strong Buy) stance.
Henry Fund, Tippie College Of Business, University Of Iowa · September 29, 2025Intuitive Surgical Inc. (ISRG) – Henry Fund Equity ResearchRecommends a Hold rating with a US$607 price target (~6% upside from US$572), arguing that ISRG’s leadership in robotic-assisted surgery, high switching costs, and recurring razor-and-blades revenue streams underpin long-term growth, while near-term tariff-related margin pressure, a rich valuation around 74.8x P/E, and rising competitive and execution risks justify a balanced rather than strongly bullish positioning.