Intuitive Surgical (ISRG)
Builds robotic surgical and lung-biopsy platforms with procedure-linked instruments and service.
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Sells and leases da Vinci robotic surgical systems and the Ion robotic bronchoscopy platform, then earns most revenue from limited-use instruments, accessories, service, and operating leases. Its installed-base model ties recurring revenue to procedure volumes, while adoption depends on medical-device clearances and hospital economics.
Designs and commercializes robotic-assisted platforms for minimally invasive care. The da Vinci 5, Xi, X, and SP systems support soft-tissue surgery across general surgery, urology, gynecology, cardiothoracic, and head-and-neck specialties. Ion extends the portfolio into robotic bronchoscopy for minimally invasive lung biopsies. Instruments, staplers, energy devices, and sterile accessories surround the platforms.
Systems are sold or leased to hospitals; limited-use instruments and accessories are replaced as procedures are performed, while maintenance and operating leases add recurring revenue. Together these streams account for most revenue. The U.S. produces most revenue; field-service teams span North America, Europe, and Asia, with distributors elsewhere. Training and digital analytics help care teams use and manage the platforms.
Product availability and adoption depend on medical-device clearances and hospital economics; payors generally reimburse the underlying procedure without a separate payment for robotic assistance.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 12, 2026 | Citigroup | Upgrade | ||
| Aug 12, 2026 | William Blair | Downgrade | ||
| Aug 12, 2026 | Piper Sandler | Initiate | Rating: — | |
| Aug 12, 2026 | Oppenheimer | Downgrade | ||
| Aug 12, 2026 | Deutsche Bank | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $5.22B · Total debt $0 · Total assets $20.88B · Shareholders' equity $18.17B
- Revenue
- $2.89B
- Operating income
- $971.9M
- Net income
- $818.1M
No dividends on record.
| Institutions | 87.38% | 308.70M shares | |
|---|---|---|---|
| 2,352 holders · as of Jun 30, 2026 | |||
| Insiders | 0.12% | 426.8K shares | |
| 21 holders · as of Sep 16, 2026 | |||
| Other | 12.50% | 44.15M shares | |
| remainder | |||
353.28M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 8.50% | 30.02M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.55% | 23.13M | as of Jun 30, 2026 |
State Street CorpInstitution | 4.55% | 16.06M | as of Jun 30, 2026 |
Invesco Ltd.Institution | 3.35% | 11.84M | as of Jun 30, 2026 |
Price T Rowe Associates Inc /MD/Institution | 3.19% | 11.26M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 15, 2026 | Fredrik Widman | officer: VP Corporate Controller | −543 | $374.44 |
| Sep 11, 2026 | Mark Brosius | officer: EVP & Chief Mfg and Supply Cha | −25 | $365.79 |
| Sep 10, 2026 | Mark Brosius | officer: EVP & Chief Mfg and Supply Cha | −23 | $347.66 |
| Sep 9, 2026 | Mark Brosius | officer: EVP & Chief Mfg and Supply Cha | −23 | $350.20 |
| Sep 8, 2026 | Mark Brosius | officer: EVP & Chief Mfg and Supply Cha | −46 | $361.23 |
- Johnson & Johnson
Multi-platform challenger: Ottava (soft tissue), Monarch (bronchoscopy), Velys.
- Medtronic
Hugo RAS (FDA-cleared Dec 2025) directly contests da Vinci; Mazor targets spine.
- Stryker
Mako dominates orthopedic robotics; competes for the same hospital capex budget.
- Zimmer Biomet
ROSA orthopedic robotics and Monogram autonomous platform contest hospital capex.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Intuitive Surgical | $398.38 | −0.81% | $141.89B | 45.7 | 35.2 | 12.9 | +18.5% |
| Johnson & Johnson | $266.90 | −0.95% | $649.40B | 31.2 | 22.5 | 6.6 | +6.6% |
| Medtronic | $91.35 | −0.44% | $117.44B | 22.6 | 15.2 | 3.1 | +13.7% |
| Stryker | $275.68 | +0.54% | $105.11B | 28.4 | 17.2 | 4.1 | +9.4% |
| Zimmer Biomet | $94.44 | +0.13% | $18.25B | 22.9 | 10.8 | 2.1 | +4.8% |
| Median | 25.7 | 16.2 | 3.6 | +8.0% |