New York, Jan 20, 2026, 2:03 PM EST — Regular session
- Shares of Intuitive Surgical dropped roughly 1.5% in afternoon trading, tracking the wider U.S. market decline.
- The robotic-surgery company is set to hold its earnings call on Jan. 22, with investors zeroing in on procedure growth projections for 2026.
- Intuitive signaled last week that da Vinci procedure volumes could rise 13%–15% by 2026, while preliminary Q4 revenue came in around $2.87 billion.
Intuitive Surgical (ISRG.O) dipped roughly 1.5% to $526.76 in Tuesday afternoon trading, as U.S. stocks slipped broadly. The S&P 500 ETF dropped about 1.9%, and the Nasdaq 100 ETF lost close to 1.9%, though the healthcare sector showed much smaller declines.
Intuitive Surgical shares remain in the spotlight as the company prepares to report quarterly results later this week, following management’s warning of slower growth in a crucial demand indicator.
That metric is “procedures” — the count of surgeries done with Intuitive’s da Vinci robots. It’s crucial since procedures fuel sales of instruments and accessories hospitals buy over and over, beyond the initial robot sale.
Intuitive filed unaudited preliminary results on Jan. 14 for Q4 and the full year, projecting worldwide da Vinci procedures to rise 13% to 15% in 2026 versus 2025. It estimated Q4 revenue near $2.87 billion, with instruments and accessories pulling in about $1.66 billion. The company placed 532 da Vinci systems during the quarter, including 303 of the latest da Vinci 5 platforms. Recurring revenue accounted for roughly 81% of Q4’s total, the filings showed. CEO Dave Rosa described the results as “pleased” with the company’s momentum, highlighting increased platform adoption and over 3.1 million da Vinci procedures performed in 2025. The preliminary figures are still subject to audit and could be revised. 1
Investors will push for clarity on the 2026 procedure outlook—specifically, how much stems from case mix versus hospital budgets, and the speed at which da Vinci 5 boosts utilization and upgrades. Leasing terms and the rollout speed of system placements will also be closely watched.
Competition is heating up. Medtronic has launched its Hugo system in the U.S. following FDA clearance for urology. Johnson & Johnson has filed for FDA approval of its Ottava soft-tissue robot, CEO Rosa revealed at an investor event. He also noted that the 2026 forecast factors in potential headwinds from policy shifts impacting hospitals and patients. 2
There’s a risk on the downside as well: procedure growth could falter if hospitals hold back on capital spending, staffing shortages worsen, or pricing pressure intensifies amid rival competition. The company also emphasized that its latest numbers remain preliminary.
The next key event is Intuitive’s earnings call on Jan. 22, where the company is set to release its full quarterly results. Investors will be watching for updates on 2026 procedure growth, system demand, and how quickly the da Vinci 5 and Ion lung-diagnostics platform are being adopted.
