Intuitive Surgical ISRG is steadily expanding its robotic-assisted surgery beyond its traditional strength in urology, with general surgery and emerging specialties becoming increasingly important growth drivers. Management reaffirmed that U.S. general surgery remains the primary contributor to procedure growth, supported by a 26% increase in after-hours procedures, highlighting broader hospital utilization and deeper penetration across routine surgical workflows.
The company's long-term growth story is being shaped by newer clinical applications. Cardiac procedures accelerated 39% year over year, while nipple-sparing mastectomy (NSM) procedures increased 43%, reflecting growing surgeon adoption despite both categories remaining in the early stages of commercialization. Intuitive Surgical is reinforcing these opportunities by investing in cardiac-specific instruments and expanding the clinical evidence base supporting NSM, laying the foundation for broader adoption over time.
Not every procedure category is moving in the same direction. Bariatric surgery remains a headwind, with U.S. da Vinci bariatric procedures declining at a high single-digit rate as rising GLP-1 drug adoption continues to reduce surgical demand. However, management emphasized that weakness in bariatrics is being offset by strength across other benign procedures.
Outside the United States, benign procedures now account for just over one-quarter of da Vinci volumes, with growth accelerating 37% during the quarter, underscoring the significant runway for robotic adoption in lower-acuity surgeries. The planned Extended Use Program, which will lower instrument costs for selected benign procedures beginning in 2027, is expected to further support adoption in cost-sensitive settings and geographies.
Intuitive Surgical's clinical momentum is becoming increasingly diversified. Growth across general surgery, cardiac, breast surgery, benign procedures and the expanding SP and Ion platforms demonstrates that the company's future is no longer dependent on urology alone. This broadening clinical footprint strengthens Intuitive Surgical's competitive positioning and provides multiple avenues for sustained procedure growth over the long term.
Peer Updates
Stryker SYK is broadening the clinical reach of its Mako ecosystem by extending robotics across multiple orthopedic indications rather than relying solely on knee and hip arthroplasty. The company highlighted record first-quarter Mako installations and rising utilization globally, reflecting robust hospital demand. Mako Shoulder is scheduled for a full launch on the Mako 4 platform in mid-2026, opening a new upper-extremity indication. Stryker is also introducing the handheld Mako RPS system, targeting surgeons and ambulatory surgery centers seeking a lower-barrier entry into robotic surgery. Management believes these additions complement the core Mako franchise, expanding the addressable surgeon base and strengthening its orthopedic robotics leadership.
Zimmer Biomet ZBH is expanding the clinical scope of its robotic portfolio through a broader technology ecosystem spanning knees, hips, shoulders and future autonomous robotics. Strong ROSA and TMINI sales, coupled with nearly 12% growth in its technology and data business, underscore rising adoption across orthopedic procedures.
The company is scaling ROSA Shoulder following positive surgeon feedback, with the platform supporting both anatomic and reverse shoulder arthroplasty while integrating seamlessly into the broader ROSA ecosystem. Zimmer Biomet is preparing to launch the semi-autonomous mBos robotic system after completing clinical enrollment, positioning robotics to address a wider range of orthopedic indications with enhanced precision, efficiency and workflow integration.
ISRG’s Price Performance, Valuation and Estimates
Shares of ISRG have lost 37.7% so far this year compared with an 11.6% decline of the industry.
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From a valuation standpoint, Intuitive Surgical trades at a forward price-to-earnings ratio of 30.88X, above the industry average. But, it is significantly lower than its five-year median of 69.38X. ISRG carries a Value Score of D.
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The Zacks Consensus Estimate for Intuitive Surgical’s 2026 earnings implies a 20.3% rise from the year-ago period’s level.
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The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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