New York, Feb 1, 2026, 17:25 EST — The market has closed.
- ISRG slipped 0.7% on Friday, ending the day at $504.22.
- A Form 4 revealed EVP and Chief Medical Officer Myriam Curet sold 126 shares as part of a 10b5-1 plan.
- Focus on Feb. 2: signals of procedure growth, tariff tensions, and the upcoming quarterly earnings season.
Intuitive Surgical shares edged down 0.7% on Friday, closing at $504.22 on the Nasdaq. Investors are cautious heading into Monday following a filing that revealed the company’s chief medical officer offloaded stock. The price fluctuated between $501.44 and $510.75, with roughly 1.7 million shares traded. (SEC)
Why it matters now: the stock remains reactive to the company’s 2026 outlook, where management projects slower growth in a crucial metric — procedures, or the number of surgeries performed with da Vinci systems. This metric drives repeat sales of instruments and accessories. Intuitive expects global da Vinci procedure growth of roughly 13% to 15% in 2026, and forecasted a non-GAAP (adjusted) gross margin between 67% and 68%. That includes a tariff impact estimated at about 1.2% of revenue. (SEC)
The wider environment took a hit Friday as U.S. stocks dropped following Donald Trump’s nomination of Kevin Warsh to replace Jerome Powell at the Federal Reserve. Investors were also weighing new inflation figures. “Markets are calibrating to Trump’s pick of Kevin Warsh,” noted Michael Hans, chief investment officer at Citizens Wealth. (Reuters)
The Form 4 filed with the U.S. Securities and Exchange Commission revealed that EVP and Chief Medical Officer Myriam Curet exercised options to purchase 126 shares at $208.90, then sold those same shares at $520.02. These transactions were flagged under a Rule 10b5-1 plan — a pre-arranged trading setup — with an expiration date of July 29. The filing also noted 5,585 performance stock units set to vest on Feb. 28.
Product updates are also coming through. On Jan. 26, Intuitive announced the U.S. Food and Drug Administration approved its da Vinci 5 system for select cardiac procedures, including mitral valve repair and internal mammary artery mobilization for revascularization. CEO Dave Rosa noted that “opening the chest to perform surgical procedures can involve significant pain,” while cardiac VP Darla Hutton described da Vinci 5 as “the beginning of a global initiative” aimed at transforming cardiac care. (Nasdaq)
The immediate trading question: can that kind of indication growth counterbalance a tougher cost and demand environment? On the Jan. 22 call, Jamie E. Samath noted “the tender win ratio was lower in Q4,” highlighting tighter pricing and increased competition for large-system sales in at least one major market. (The Motley Fool)
For ISRG, the signals are straightforward: procedure growth, system placements, and the share of the installed base generating repeat instruments-and-accessories sales. Traders also keep an eye on the company’s remarks about tariffs, as management has noted that any shifts from what is “currently in effect” might impact margins.
That downside risk remains. If hospitals tighten capital spending, elective surgeries drop, or tariffs exceed management’s forecasts, a quick slide could follow — particularly since the stock is still valued as a high-multiple healthcare play.
The first-quarter report is set for April 21, according to earnings calendars. Investors will be watching closely for any updates on the 2026 procedure-growth range and clearer insights into tariff expenses, though the stock faces its initial test well before then.
er when markets reopen on Feb. 2. (Investing)
