Intuitive Surgical, Inc. (NASDAQ: ISRG) finished Tuesday’s session modestly lower, then traded little-changed in after-hours dealing—exactly the kind of “quiet tape” investors often see heading into the Christmas holiday stretch. With U.S. stocks closing near record levels and trading volumes thinning, Wednesday’s session (Dec. 24) is shaping up to be more about market structure—shortened hours, lighter liquidity, and one key data point—than any single company headline. [1]
Below is what matters after the bell on Dec. 23, 2025, and what investors should keep in mind before the market opens Wednesday, Dec. 24, 2025.
ISRG after-hours check: where Intuitive Surgical stock stands tonight
Intuitive Surgical shares closed Tuesday (Dec. 23) at $577.34, down $2.49 (-0.43%) on the day. The session’s reported range was $573.68 to $579.20. [2]
In after-hours trading, MarketWatch’s delayed quote showed $577.60 at 6:43 p.m. ET, up $0.26 (+0.05%) from the cash-session close—essentially flat after the bell. [3]
Why this matters: after-hours stability often signals that traders didn’t see a late-breaking company catalyst (earnings, regulatory news, major analyst action) compelling enough to reprice the stock immediately. Into a holiday-shortened week, that “no new surprise” tone can be just as informative as a big move.
The bigger backdrop: markets hit records, but holiday liquidity is tightening
Tuesday’s broader market tone was constructive. The S&P 500 ended near/at record levels, supported by tech leadership and economic data that reinforced expectations around future Federal Reserve policy (even as other indicators remained mixed). [4]
At the same time, multiple reports flagged that trading volumes were light ahead of the Christmas holiday, which can amplify small price swings—up or down—without necessarily changing the underlying investment story. [5]
That liquidity dynamic becomes even more important tomorrow.
What to know before the market opens Wednesday, Dec. 24, 2025
1) It’s an early-close session for U.S. stocks
The New York Stock Exchange will close early at 1:00 p.m. ET on Wednesday, Dec. 24, 2025 (with eligible options closing at 1:15 p.m. ET, and NYSE “late trading sessions” ending at 5:00 p.m. ET). [6]
Nasdaq’s U.S. holiday schedule likewise lists Dec. 24, 2025 as an early close at 1:00 p.m. ET, with Christmas Day (Dec. 25) closed. [7]
MarketWatch also notes bond markets closing early (2:00 p.m. ET) on Dec. 24 and being closed on Dec. 25. [8]
Practical implication for ISRG: liquidity can evaporate faster than usual in the final 60–90 minutes of a half-day session. That doesn’t mean ISRG is “breaking out” or “breaking down”—it often means fewer participants are active.
2) The key macro datapoint before the open: initial jobless claims (8:30 a.m. ET)
MarketWatch’s U.S. economic calendar lists initial jobless claims at 8:30 a.m. ET on Wednesday, Dec. 24. [9]
Why ISRG investors should care: Intuitive Surgical is a mega-cap growth-oriented medtech name. Rate expectations and risk appetite can still influence its multiple, even if the company itself isn’t in the headlines. In a thin market, even a “normal” macro surprise can cause exaggerated premarket and early-session moves.
3) Government holiday closures add noise, not necessarily signal
The Federal Reserve’s calendar notes federal government offices will be closed on Dec. 24, 2025. [10]
Separately, Reuters reported that U.S. stock markets were expected to be open on Dec. 24 and Dec. 26 even amid federal government closure orders around the holiday period. [11]
Bottom line: headlines about “closures” can confuse investors—so it helps to anchor on what actually impacts trading: the market is open tomorrow, but it’s an early close, and liquidity will be lighter.
Today’s ISRG-specific news and analysis: what analysts are focusing on right now
Even though the stock itself didn’t swing wildly on Dec. 23, investors did get fresh “what’s next” framing from Wall Street-style previews and sector commentary.
Earnings expectations are back in focus
A widely circulated earnings preview published Tuesday highlighted what analysts are looking for heading into Intuitive Surgical’s fiscal Q4 2025 report:
- Expected Q4 2025 EPS: $1.83, down from $1.93 in the year-ago quarter (per that analyst consensus snapshot)
- Expected FY2025 EPS: $6.93, up from $6.48 in FY2024
- Expected FY2026 EPS: $7.79, implying continued growth
- Street stance described as “Moderate Buy”, with an average price target around $614 (implying mid-single-digit upside from then-current levels) [12]
The same analysis also pointed to a notable recent rating move: Citigroup’s downgrade to “Neutral” from “Buy” on Dec. 11, framing it as a more cautious near-term view despite strong fundamentals. [13]
How to read this: going into year-end, the debate around ISRG tends to cluster around two themes:
- durability of procedure growth and utilization, and
- valuation sensitivity—how much investors are willing to pay for category leadership in robotic-assisted surgery.
Next known catalyst: Q4 earnings call timing
Nasdaq’s earnings calendar shows Intuitive Surgical’s next earnings date as Jan. 22, 2026. [14]
Intuitive’s investor events listing also points to an earnings call on Jan. 22, 2026. [15]
Why it matters tomorrow: with no earnings event in the immediate next session, ISRG’s Dec. 24 action is more likely to track sector flows and holiday liquidity than a company-specific “binary” catalyst—unless new regulatory or analyst headlines hit premarket.
The two company developments investors are still digesting in December
Even if they didn’t break today, these are the kinds of items that can shape sentiment and institutional positioning into January.
1) FDA posted a Class 2 recall listing tied to the da Vinci 5 system
The FDA’s recall database shows a Class 2 device recall entry for “Da Vinci 5” (Surgeon Console Column Motor Connector). The listing indicates:
- Date initiated by firm: Aug. 21, 2024
- Date posted by FDA: Dec. 19, 2025
- Recall status: open/classified
- The reason described includes an error condition that could lock ergonomics adjustments until restart or repair, with potential for procedure delay, aborted procedure, or alternate procedure in some cases. [16]
How to interpret this carefully: FDA recall postings can be complex—some are corrections, field actions, or component-level issues rather than broad product stoppages. Still, investors typically monitor these entries because they can influence hospital perceptions and service costs, even when clinical risk is limited.
2) New FDA clearance expanded da Vinci SP indications (growth tailwind narrative)
Intuitive announced on Dec. 10 that the FDA cleared the da Vinci Single Port (SP) system for additional procedures, including inguinal hernia repair, cholecystectomy (gallbladder removal), and appendectomy. [17]
Industry coverage framed this as a meaningful expansion of SP’s addressable use cases in general surgery—an area that can drive procedure volume over time when adoption inflects. [18]
Why this still matters after the bell today: in ISRG’s story, incremental indications and expanded use cases tend to support the long-term narrative (procedure growth → higher recurring instruments/service revenue), even if the stock doesn’t react instantly.
For context, Intuitive’s most recent quarterly earnings release (Q3 2025) highlighted continued growth and an expanding installed base across platforms, underscoring the operating leverage investors are paying for. [19]
Management update that’s on the radar heading into 2026
In an SEC Form 8‑K dated Dec. 18, Intuitive disclosed that Brian E. Miller, Ph.D. will transition from Chief Digital Officer to Head of Digital and AI Strategy effective Jan. 1, 2026, and that in the new role he will no longer report directly to the CEO. [20]
Why investors notice: ISRG is increasingly discussed not just as a robotics hardware company, but as a platform business where software, data, training, and workflow tools can expand the moat. Any leadership reshuffle tied to “Digital and AI Strategy” can draw attention—especially with the medtech sector leaning harder into AI-enabled features. [21]
Key levels and positioning: where ISRG sits relative to recent trading
ISRG closed at $577.34 on Dec. 23. [22]
It remains below its $616.00 52-week high referenced in recent market coverage. [23]
Recent price history listings also show a 52-week low around $425, reinforcing how much of the 2025 move has been about re-rating and renewed momentum after prior drawdowns. [24]
What this means into a half-day session: many short-term traders will treat the $575–$580 zone as an “inventory area” (where shares have recently traded repeatedly). In thin holiday conditions, breaks above or below can happen quickly—but follow-through may be limited until normal volume returns.
What to watch specifically for ISRG before Wednesday’s open
Here’s a practical checklist tailored to Intuitive Surgical shareholders and watchers:
- Premarket quote behavior vs. the $577 close: Is the stock drifting on thin volume, or responding to a new headline? [25]
- Any late analyst notes / price target actions: December often brings year-end desk cleanups and 2026 outlook notes; these can move high-multiple names disproportionately in thin markets. [26]
- Regulatory/quality headlines: FDA database updates (including recall clarifications) can pop up unexpectedly and spark a quick sentiment shift. [27]
- Macro at 8:30 a.m. ET: initial jobless claims are the standout scheduled release. [28]
- Remember the early close: if you’re watching intraday action, the “end-of-day” dynamic arrives fast on Dec. 24. [29]
The setup going into Dec. 24: steady stock, catalyst-light calendar, holiday-driven tape
As of after-hours on Dec. 23, Intuitive Surgical stock is behaving like a large, liquid, institutionally owned leader: modest day-to-day movement, tight after-hours range, and a narrative still driven by procedure growth expectations, regulatory execution, and valuation sensitivity. [30]
With Q4 earnings not due until late January, the near-term driver for Wednesday is more likely to be holiday market mechanics—shortened hours and thin liquidity—plus whatever signal the macro tape takes from jobless claims at 8:30 a.m. ET. [31]
If you want, I can also write a second version of this piece optimized for (1) a shorter Google Discover “mobile-first” format, or (2) a more technical investor format that goes deeper on consensus revisions and what tends to move ISRG into earnings season—without using charts or images.
References
1. www.reuters.com, 2. www.marketwatch.com, 3. www.marketwatch.com, 4. www.reuters.com, 5. www.reuters.com, 6. www.nyse.com, 7. www.nasdaq.com, 8. www.marketwatch.com, 9. www.marketwatch.com, 10. www.federalreserve.gov, 11. www.reuters.com, 12. www.barchart.com, 13. www.barchart.com, 14. www.nasdaq.com, 15. isrg.intuitive.com, 16. www.accessdata.fda.gov, 17. www.globenewswire.com, 18. www.medtechdive.com, 19. www.globenewswire.com, 20. www.sec.gov, 21. www.nasdaq.com, 22. www.marketwatch.com, 23. www.marketwatch.com, 24. stockanalysis.com, 25. www.marketwatch.com, 26. www.barchart.com, 27. www.accessdata.fda.gov, 28. www.marketwatch.com, 29. www.nyse.com, 30. www.marketwatch.com, 31. www.nasdaq.com


