New York, Jan 23, 2026, 05:30 EST — Premarket
- ISRG climbed roughly 3.6% in premarket action following the surgical-robot maker’s stronger-than-expected quarterly results.
- The company cited slower procedure growth in 2026 and highlighted a tariff impact already factored into its margin forecasts.
- Traders eyes are fixed on the opening bell, looking for any follow-through and updates in analyst notes.
Intuitive Surgical shares climbed $19.19 to $545 in premarket trading Friday, following a 3.3% gain in after-hours trading after the company topped fourth-quarter estimates.
This shift is significant since Intuitive’s earnings typically serve as a barometer for the wider surgical-robotics sector, where investors are keen to gauge procedure demand, hospital capital outlays, and what comes after a robust 2025.
Tariffs are starting to weigh on medtech firms with global supply chains. Intuitive now faces the challenge of pinpointing how this will impact profit margins by 2026.
During the quarter, global procedures using da Vinci and Ion systems rose roughly 18% compared to last year, with da Vinci procedures climbing about 17% and Ion jumping 44%, according to the company. It shipped 532 da Vinci units, including 303 of the da Vinci 5 model, and finished 2025 with 11,106 da Vinci systems installed worldwide. Cash and investments stood at $9.03 billion.
Intuitive projects da Vinci procedure volume to climb about 13% to 15% in 2026, with a non-GAAP gross profit margin sitting between 67% and 68% of revenue. This adjusted margin excludes items like share-based compensation. The forecast factors in a tariff impact estimated at 1.2% of revenue, with a 10 basis point wiggle room. The company cautioned that further tariff shifts could prove “material.” Barchart.com
During the earnings call, CEO Dave Rosa told analysts, “We still see Intuitive as being in the early stages of our journey.” Investing.com
Stifel’s Rick Wise said the results “checked all the key boxes.” Truist Securities’ Richard Newitter highlighted a “big 4Q EPS upside on a revenue beat.” Investing.com
Options traders were gearing up for a big move, pricing in roughly a 3.8% post-earnings shift, according to TheFly.
Investors will be weighing Intuitive’s procedure outlook against signals from medtech peers like Medtronic and Stryker, which also have stakes in operating rooms and capital spending—though their robotics exposure varies.
That said, the outlook works both ways. A 13%-15% procedure-growth target signals a deceleration from last year. Plus, the tariff forecast hinges on the trade-policy environment—any broader impact could squeeze margins and force analysts to revise their estimates downward.
