Intuitive Surgical (ISRG) Stock in December 2025: Earnings Beat, Tariff Risks and New Robotic Rivals

Published: December 6, 2025

Intuitive Surgical, Inc. (NASDAQ: ISRG), the pioneer of robotic-assisted surgery and maker of the da Vinci and Ion systems, remains one of the most closely watched healthcare stocks as 2025 draws to a close. The company has delivered a powerful third-quarter earnings beat, continued double‑digit procedure growth and new AI-driven product upgrades—while at the same time warning about tariff-related margin pressure and facing fresh competition from Medtronic’s newly approved surgical robot. ^[1]

For investors tracking Intuitive Surgical stock on Google News and Discover, here is a comprehensive look at the latest share price, earnings trends, forecasts and key risks as of December 6, 2025.

Where Intuitive Surgical Stock Stands Today

As of December 6, 2025, Intuitive Surgical stock trades around $575 per share, leaving the company with a market capitalization of about $204 billion, squarely in mega‑cap territory. ^[2]

Key trading metrics:

Current price: ~$575.34
52‑week range: $425.00 – $616.00
Distance from 52‑week high: roughly 6.6% below the January peak of $616
P/E ratio: around the mid‑70s on a trailing earnings basis, near the low end of its three‑year range but still at a premium to the broader market ^[3]

Recent trading has been constructive. On Friday, December 5, the stock rose 1.18% to close at $575.34, outperforming major competitors such as Medtronic and Stryker on a positive day for the broader market indices. ^[4]

Earlier coverage also notes that shares are up a high‑single‑digit percentage year‑to‑date in 2025, helped by a strong rebound around the third‑quarter earnings release. ^[5]

Q3 2025: A Big Earnings Beat Powered by Procedure Growth

Intuitive’s third quarter of 2025 was the main catalyst for the stock’s recent strength.

According to the company’s earnings release and subsequent industry coverage: ^[6]

Total Q3 2025 revenue:$2.51 billion, up 23% year over year
Net income:$704 million, up 25% year over year
GAAP diluted EPS:$1.95
Non‑GAAP diluted EPS:$2.40, well above analyst expectations around $1.99

Revenue growth was broad‑based across segments:

Instruments and accessories: $1.52 billion, up ~20% year over year
Systems (da Vinci and Ion hardware): $590 million, up sharply from $445 million a year earlier
Services: $396 million, also up strongly year over year ^[7]

On the operating side:

Global da Vinci procedure volume grew about 19–20% year over year
Ion robotic bronchoscopy procedures grew approximately 52%
The company placed 427 da Vinci systems in the quarter, up from 379 in Q3 2024
Of these, 240 were da Vinci 5 systems, more than double the prior‑year quarter ^[8]

Management raised full‑year 2025 procedure growth guidance to 17–17.5%, from 15.5–17%, signaling confidence in sustained demand for robotic surgery. ^[9]

The market’s immediate reaction was enthusiastic. Following the Q3 release, shares jumped nearly 15% intraday as investors reassessed fears about slowing hospital capital spending and competitive pressures. ^[10]

Growth Engines: da Vinci 5, Ion and an Expanding Recurring Revenue Base

Intuitive’s investment case continues to rest on three key pillars: technology leadership, procedure growth and a high‑quality recurring revenue model.

da Vinci 5: Next‑generation flagship platform

The da Vinci 5 system, the company’s newest multi‑port surgical robot, is central to the growth story. Intuitive describes the platform as a ground‑up redesign with more than 150 design innovations and roughly 10,000× the computing power of prior generations, supporting greater surgeon autonomy, streamlined operating‑room workflow and advanced data analytics. ^[11]

Broader availability of da Vinci 5 in the U.S. during 2025 has been a key driver of new system placements and higher procedure volumes, particularly in urology and gynecology.

Ion: AI‑enhanced lung biopsy platform

The Ion endoluminal system targets minimally invasive biopsies of peripheral lung nodules, an area of growing focus given the global burden of lung cancer. ^[12]

In October 2025, Intuitive received FDA clearance for new software advancements that expand AI and advanced imaging integration in Ion, enhancing navigation and access to lung nodules. These upgrades are designed to improve accuracy and broaden use in thoracic oncology centers. ^[13]

Ion procedures grew more than 50% year over year in Q3, and management highlighted the platform as a major contributor to instruments and accessories revenue growth. ^[14]

Recurring revenue: Razor‑and‑blade at scale

Intuitive’s business increasingly resembles a classic razor‑and‑blade model:

Instruments, accessories and services now account for the majority of revenue.
Q3 2025 data show instruments and accessories alone at about 61% of total revenue, with systems at roughly 24% and services making up the rest. ^[15]
Independent data suggest that around 86% of Intuitive’s total revenue is now recurring, up from roughly 79–83% a year earlier. ^[16]

A recent bull case analysis summarized the impact of this model: Intuitive is estimated to hold 60–70% share of the soft‑tissue surgical robotics market, with its platforms used in over 17 million procedures across 74 countries. It has grown revenue at roughly a 15% compound annual rate over the past decade, maintains near‑70% gross margins, and operates with little or no debt—while generating more than $1 billion in free cash flow annually. ^[17]

This combination of technology leadership and recurring revenue is a major reason the stock commands a premium valuation.

Margin and Tariff Pressure: The Main Near‑Term Risk

Despite the strong top‑line momentum, margin guidance has become a central concern for investors.

During Q1 2025, Intuitive warned that U.S. tariffs—particularly on components sourced from China—could have a “material” impact on 2025 profitability. The company cut its full‑year gross margin outlook from roughly 69% in 2024 to about the mid‑60s, attributing around 1.7 percentage points of the decline to existing tariffs. ^[18]

More recent coverage indicates that tariffs continue to weigh on profitability: one analysis notes a ~90 basis‑point hit to gross margins from tariffs, with management guiding to gross margins in the high‑60% range for 2025, even as revenue and earnings grow robustly. ^[19]

A December 6 report from Simply Wall St framed the trade‑off clearly: Intuitive’s procedure growth and U.S. system placements are exceeding expectations, and full‑year procedure guidance has been nudged higher, but management remains cautious on margins and European capital spending, leading to a more nuanced earnings profile. ^[20]

In other words, demand does not appear to be the problem. The risk is that tariffs, input costs and hospital budget constraints, particularly in Europe, could cap margin expansion even as volumes rise.

Analyst Ratings and ISRG Stock Forecasts

Wall Street remains broadly positive on Intuitive Surgical, but expectations are tempered by valuation.

Street consensus

According to data compiled by MarketBeat, around 29 analysts currently cover ISRG, with an overall “Moderate Buy” consensus rating:

1 Sell
7 Hold
19 Buy
2 Strong Buy

The average 12‑month price target is about $609 per share, implying low‑ to mid‑single‑digit upside from current levels, with individual targets ranging from roughly $440 to $675. ^[21]

Separate forecast aggregations show a similar picture: an average 12‑month target around $592, again just a few percent above the current price, with a wide dispersion of estimates reflecting differing views on long‑term growth and margins. ^[22]

Valuation and fair value debates

Simply Wall St’s fundamental model currently pegs “fair value” for Intuitive Surgical at about $592.96 per share—roughly 3% above the latest trading level—based on revenue growing to an estimated $13.4 billion and earnings to $3.7 billion by 2028 (a roughly 13.5% annual revenue growth assumption). ^[23]

A separate GuruFocus valuation snapshot shows: ^[24]

Trailing P/E ratio around 75×
Gross margin ~66–67%
Net margin ~28%
High institutional ownership (mid‑80% range) and relatively low insider ownership

These data points reinforce the core tension around ISRG stock: excellent business quality, but priced at a premium multiple where upside depends on many years of sustained double‑digit growth.

Quant Models and Retail Forecast Tools

Beyond traditional Wall Street coverage, a growing number of retail‑focused sites publish algorithmic or statistically driven price forecasts for ISRG.

One such service projects that Intuitive Surgical’s stock could trade in a broad $520–$760 range over various months of 2026, with hypothetical “potential returns” ranging from high single digits to more than 40% depending on the time frame. ^[25]

These tools generally rely on historical volatility, technical patterns and quantitative models rather than detailed fundamental analysis. They can be useful for scenario framing, but they are not guarantees and should be treated as speculative rather than predictive.

Sentiment, Insider Selling and Congressional Trades

Social and alternative‑data platforms offer another lens on ISRG.

A recent QuiverQuant analysis of X (formerly Twitter) activity noted: ^[26]

Strong buzz after the Q3 earnings beat, centering on 20% global procedure growth, raised 2025 guidance and the company’s long‑term compounding record.
Enthusiasm about the da Vinci 5 system and real‑time surgical insights features, particularly around AI and imaging advances.
Counterpoints focused on the high valuation and rising competitive risks.

QuiverQuant’s insider‑trading tracker also highlights a pattern of net insider selling over the past six months, with senior executives—including the executive chair and CEO—disposing of tens of thousands of shares. While insiders sell for many reasons, persistent net selling at elevated valuations is often treated as a yellow flag by cautious investors. ^[27]

In parallel, several members of the U.S. Congress have traded ISRG in 2025, with a mix of purchases and sales. This activity underscores the stock’s visibility but does not, by itself, indicate a clear directional signal. ^[28]

Competitive Pressure: Medtronic, CMR Surgical and a Crowded Robotics Field

Intuitive continues to dominate soft‑tissue robotic surgery, but its moat is being tested more aggressively.

Medtronic’s Hugo RAS enters the U.S. market

In early December 2025, Medtronic announced that the U.S. Food and Drug Administration had granted clearance for its Hugo robotic‑assisted surgery (RAS) system for urologic procedures. ^[29]

Key points from recent coverage:

Hugo had previously received CE Mark in Europe (2021) and is already used in 30+ countries, primarily for urologic, gynecologic and general surgery procedures. ^[30]
FDA clearance gives U.S. hospitals a major alternative to Intuitive’s da Vinci platform, particularly in urology—a core franchise for Intuitive.
Analysts see Hugo’s launch as an important step in eroding Intuitive’s near‑monopoly and pressuring pricing and contracts over time. ^[31]

CMR Surgical and other challengers

CMR Surgical, with its Versius robotic system, has also gained momentum:

Versius received FDA clearance in 2024 for gallbladder removal and is being used in more than 30 countries, with tens of thousands of procedures performed. ^[32]
Industry research notes that companies such as CMR and Medtronic are gradually gaining share in Europe, especially where hospitals seek portable, modular systems and alternative pricing models. ^[33]

Market‑research reports estimate that the global surgical robotics market—variously measured around $8–12 billion in 2024—could double by 2030, with compound annual growth in the low‑ to high‑teens. ^[34]

In this context, Intuitive’s dominant share is both an asset and a target. Competitors are emphasizing:

Lower capital costs and more flexible deployment
Modular designs (like Versius)
Expanded indications and specialty‑specific tools

The outcome of this arms race will help determine how long Intuitive can sustain its current pricing power and margins.

Key Questions for ISRG Investors Heading Into 2026

Pulling together the latest news, guidance and forecasts, the debate around Intuitive Surgical stock in December 2025 revolves around a few core questions:

Can double‑digit procedure growth continue?
Management has raised 2025 procedure guidance and Q3 results show accelerating volume growth, helped by da Vinci 5 and Ion. The long‑term trend toward minimally invasive and robotic surgery remains a powerful tailwind. ^[35]
How much will tariffs and competition compress margins?
Tariffs have already forced the company to reset gross margin expectations lower, and fresh competition from Medtronic and CMR increases the risk of price pressure on systems and services. ^[36]
Is the valuation justified by the growth runway?
With the stock trading at 70–75× trailing earnings and analysts projecting only modest upside to their 12‑month price targets, investors must believe that Intuitive can compound revenue and earnings at double‑digit rates for many years, while defending its moat. ^[37]
Will AI and data turn into monetizable advantages?
Platforms like da Vinci 5 and Ion increasingly emphasize real‑time data, analytics and AI‑enabled decision support. If Intuitive can translate these capabilities into higher utilization, premium pricing or new service lines, it could reinforce the thesis that the stock deserves a sustained premium. ^[38]

Bottom Line: A Premier Franchise With a Premium Price Tag

As of December 6, 2025, Intuitive Surgical stands out as:

A market leader in surgical robotics with strong technology and a massive installed base
A recurring‑revenue machine, with roughly 85%+ of revenue tied to instruments, accessories and services
A company delivering high‑20s operating and net margins and robust balance‑sheet strength, but facing tariff and competitive headwinds that could cap further margin expansion ^[39]

Most analysts still rate ISRG stock as a Buy or Moderate Buy, yet many also flag valuation as the key constraint on future returns. In practice, that means the stock may be priced more as a long‑duration growth asset than a traditional value play; outcomes will hinge on the durability of procedure growth, the pace of adoption for da Vinci 5 and Ion, and how successfully Intuitive can navigate a more crowded competitive field.

For investors following Intuitive Surgical through Google News and Discover, the story at the end of 2025 is not about whether the business is high quality—it clearly is—but whether the current share price adequately compensates for tariff risks, rising competition and the possibility of slower margin expansion over time.