Intuitive Surgical is a high-quality franchise — a perfect Piotroski financial-health score, 28% operating margins ranked best-in-class among peers, and four consecutive earnings beats — but the stock carries a forward multiple of 35x in a confirmed price downtrend with a put/call ratio of 5.85, arguing that the setup rewards waiting for either a better entry price or a technical reversal signal before adding exposure.
Thesis pillars
- High Quality Franchise Perfect Health→Stable
- Strong Revenue Growth Rule Of 40→Stable
- Consistent Earnings Outperformance→Stable
- +2 more pillars — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Feb 3, 2026· older than 90 days
Intuitive Surgical, Inc. (ISRG) Stock Analysis
Healthcare · Medical Instruments & Supplies
Hold if already holding. Not a fresh buy at $440.75, but acceptable to hold if already in. Reasons: Concentration risk — Supplier: sole- and single-sourced suppliers; Analyst target reached - limited upside remaining.
Intuitive Surgical makes the da Vinci robotic surgical platform (five active generations, including the da Vinci 5) and the Ion lung-biopsy system, sold to hospitals globally. Revenue spans system sales, recurring per-procedure instruments and accessories, and service contracts;... Read more
Hold if already holding. Not a fresh buy at $440.75, but acceptable to hold if already in. Reasons: Concentration risk — Supplier: sole- and single-sourced suppliers; Analyst target reached - limited upside remaining. Chart setup: No clear chart pattern; technical signals are mixed. Maintain position. Not compelling to add more. Score 5.4/10, moderate confidence.
Passes 6/10 gates (positive momentum, clean insider activity, news events none recent, earnings proximity 78d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio and death cross (50MA < 200MA). Suitability: aggressive.
About Intuitive Surgical, Inc.
About Intuitive Surgical, Inc.
Intuitive Surgical's da Vinci platform — spanning five active generations including the recently launched da Vinci 5 with force-feedback technology — and the Ion endoluminal lung-biopsy system (FDA-cleared 2019) generated revenue with OUS markets contributing approximately 32% in 2025 (33% in 2024, 34% in 2023). Intuitive first received FDA clearance for general laparoscopic surgery in 2000; the company maintains field service coverage across the U.S., Canada, Europe, and Asia.
Intuitive generates revenue through three streams: upfront system sales, recurring per-procedure instruments and accessories, and multi-year service contracts. The instrument model creates recurring demand because programmed chips inside each da Vinci instrument enforce usage limits — restricting each instrument to a defined number of procedures — requiring hospitals to reorder. The filing notes that substantially all customers have sourced services from Intuitive rather than third-party providers. Manufacturing of instruments and accessories takes place primarily in Mexico, exposing the company to tariff risk; during 2025, the U.S. government imposed new tariffs on imports from Mexico, Germany, and China. In China, an anti-corruption campaign targeting healthcare launched in July 2023, combined with domestic competition, contributed to fewer system placements in 2025 than anticipated. Competitors named in the filing include Johnson & Johnson, Medtronic, and CMR Surgical.
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Certain components for Intuitive's systems are sourced exclusively from sole-sourced or single-sourced suppliers, with purchases through standard purchase orders rather than long-term agreements. In 2025, China announced export controls and licensing requirements on rare earth elements critical to certain Intuitive components — China being a predominant producer — which may require export licenses and could cause supply disruptions. Any sole-source component substitution additionally requires regulatory re-verification, a time-consuming process the 10-K identifies as a potential manufacturing delay. Tariffs on Mexico imports may further pressure gross margins on the instrument and accessories revenue stream.
See also: Healthcare · Medical Instruments & Supplies
From Intuitive Surgical, Inc.'s most recent 10-K filing, extracted June 10, 2026.
Recent developments
updated Nov 1, 2026Recent Developments — Intuitive Surgical, Inc.
Latest news
- NEWS Intuitive Surgical Stock Just Fell Despite a 22% Revenue Jump. Here's What Investors Are Missing. - The Motley Fool — The Motley Fool Nov 1, 2026 negative
- NEWS Intuitive Surgical Sheds $6.7 Billion in a Single Session - 24/7 Wall St. — 24/7 Wall St. Oct 30, 2026 negative
- NEWS Intuitive Surgical EVP Mark Brosius sells $82,043 in company stock - Investing.com — Investing.com Oct 28, 2026 neutral
- NEWS Is Intuitive Surgical (ISRG) Undervalued As Upbeat Earnings Lifted Sentiment? - Yahoo Finance — Yahoo Finance Oct 28, 2026 positive
- NEWS ISRG Gains Nearly 12% in a Month: Should You Buy, Hold or Sell? - TradingView — TradingView Oct 14, 2026 positive
Latest item Nov 1, 2026 · Generated 2026-11-04T11:54:38Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- MEDIUMGeographicOUS markets32%10-K Item 1A: 'Revenue from OUS markets accounted for approximately 32%, 33%, and 34% of our revenue for the years ended December 31, 2025, 2024, and 2023, respectively'
- HIGHSuppliersole- and single-sourced suppliers10-K Item 1A: 'Some of the components necessary for the assembly of our products are currently provided to us by sole-sourced suppliers or single-sourced suppliers'
- MEDIUMGeographicMexico manufacturing10-K Item 1A: 'potential tariffs on goods imported from Mexico where we manufacture a significant majority of our instruments and accessories that we sell'
Material Events(8-K, last 90d)
- 2026-05-28Item 5.02MEDIUMHenry Charlton transitions from Chief Commercial and Marketing Officer to SVP of Global Business Operations effective July 1, 2026. Taylor Patton named successor as Chief Commercial and Marketing Officer.SEC filing →
- 2026-05-04Item 5.02LOWStockholders approved amendment to the 2010 Incentive Award Plan at the April 30, 2026 Annual Meeting, increasing reserved shares from 120,350,000 to 125,350,000 and extending the plan term to January 29, 2036.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
2 floor-breakers
Priced at a premium — multiples above sector norms. Needs delivery on growth + margins to justify.static
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Hold if already holding. Not a fresh buy at $440.75, but acceptable to hold if already in. Reasons: Concentration risk — Supplier: sole- and single-sourced suppliers; Analyst target reached - limited upside remaining. Chart setup: No clear chart pattern; technical signals are mixed. Maintain position. Not compelling to add more. Analyst target $444.02 (+0.7%), stop $413.25 (−6.7%), A.R:R 0.1:1. Score 5.4/10, moderate confidence.
Analyst target: $444.02 (+0.7% upside). Analyst target $444.02 (+0.7%), stop $413.25 (−6.7%), A.R:R 0.1:1. Stop-loss: $413.25.
Concentration risk — Supplier: sole- and single-sourced suppliers; Analyst target reached - limited upside remaining; Expensive valuation.
Intuitive Surgical, Inc. trades at a P/E of 52.8 (forward 35.3). TrendMatrix value score: 3.0/10. Verdict: Hold.
40 analysts rate ISRG, with a consensus score of 4.0/5. 30 analysts publish price targets averaging $483.
What does Intuitive Surgical, Inc. do?Intuitive Surgical makes the da Vinci robotic surgical platform (five active generations, including the da Vinci 5) and...
Intuitive Surgical makes the da Vinci robotic surgical platform (five active generations, including the da Vinci 5) and the Ion lung-biopsy system, sold to hospitals globally. Revenue spans system sales, recurring per-procedure instruments and accessories, and service contracts; OUS markets contributed approximately 32% of 2025 revenue.