New York, Jan 31, 2026, 17:32 EST — Market closed.
Intuitive Surgical shares dipped 0.66% on Friday, settling at $504.22 and stretching their decline to two days after a 2.78% fall on Thursday. The stock fluctuated between $501.39 and $511.03, with roughly 1.7 million shares traded, while the S&P 500 slipped 0.43%.
The move keeps the surgical-robot maker under the microscope as next week approaches, with investors still parsing its latest growth forecast and the implications for a stock known for high expectations. Intuitive projects 2026 global da Vinci procedure growth between 13% and 15%, and it expects a 67% to 68% non-GAAP gross margin range. That margin outlook factors in an estimated tariff hit of roughly 1.2% of revenue.
Procedure growth remains the main metric, since every surgery drives increased use of instruments and accessories — reliable, recurring revenue. System placements are important, but they fluctuate with hospital budgets.
A Form 4 filing with the U.S. Securities and Exchange Commission revealed that Executive Vice President and Chief Medical Officer Myriam Curet exercised options to purchase 126 shares at $208.90 each and then sold those 126 shares at $520.02 per share. The filing noted the sale was executed under a Rule 10b5-1 plan, a pre-set trading program, which is set to expire on July 29, 2026.
In another Form 4 filing, CEO David J. Rosa disclosed performance stock units — equity grants linked to specific targets — credited after the compensation committee confirmed the performance goals were achieved. The filing detailed tranches set to vest in February 2026 and February 2027, contingent on ongoing service.
Peers have been sending mixed signals. Stryker Corp. boosted its annual profit outlook, citing robust sales. However, it also warned of a heavier tariff impact hitting in 2026, Reuters reported Thursday.
Medtech watchers have more earnings on the horizon: Edwards Lifesciences Corp. will hold its quarterly earnings call on Feb. 10, followed by Medtronic plc’s call set for Feb. 17.
There’s a downside risk that’s not far-fetched: if procedure growth slows beyond what investors expect, or if hospitals cut back on major expenditures, multiples could shrink fast. On top of that, tariffs and changing trade policies create extra uncertainty for device companies operating across global supply chains.
Markets reopen Monday, with the U.S. Employment Situation report for January scheduled for Feb. 6 at 8:30 a.m. ET standing out as the next major macro event. This report often shifts rate expectations and could impact growth stocks such as ISRG.
