"Intuitive delivered non-GAAP EPS of $2.50 versus a $2.11 consensus, and revenue of $2.77 billion, up 22.96% YoY. Operating income jumped 47.95%, and the company placed 431 da Vinci systems, including 232 da Vinci 5 units. That marks four straight EPS beats."
"Bulls point to da Vinci 5, which now has an installed base of 1,500 systems and is driving U.S. utilization growth of 4%, higher than Xi. CEO Dave Rosa noted 'da Vinci 5 utilization continues to exceed that of da Vinci Xi'."
"The bear case starts with valuation. ISRG trades at a P/E of 58 and EV/EBITDA of 42. Procedure growth is decelerating to 13.5% to 15.5% in 2026, down from 18% in 2025."
"Insider activity has been net selling, though it appears largely tied to scheduled vesting. Bulls would counter that gross margin actually expanded to 67.8%, and da Vinci 5 contribution margins are now competitive."
Intuitive Surgical has experienced a 14.86% decline in 2026, trading at $482.22. Despite this, Q1 2026 showed strong growth with non-GAAP EPS of $2.50 and revenue of $2.77 billion, up 22.96% YoY. The da Vinci 5 system is driving utilization growth, with a bull case price target of $649.08. Risks include high valuation metrics, decelerating procedure growth, and external pressures from tariffs and market conditions. Insider selling has been noted, but gross margins have expanded to 67.8%.
Read at 24/7 Wall St.
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