New York, January 22, 2026, 14:36 ET — Trading session ongoing
- Shares of Intuitive Surgical climbed in afternoon trading, with earnings set to drop after the bell
- After last week’s cautious forecast, analysts are now zeroing in on growth in da Vinci procedures for 2026
- The stock has dropped sharply from its recent peak, trailing behind several medtech peers.
Intuitive Surgical shares jumped 0.9% to $528.38 Thursday, clawing back after a recent dip that had the surgical-robot maker trailing some peers in the medtech sector. Medtronic gained roughly 1.0%, while Stryker edged down 0.6%.
The shift happens just hours ahead of Intuitive’s fourth-quarter results, set to drop after markets close. Investors want clearer signals on demand, especially after last week’s update shook confidence in 2026 growth projections.
Intuitive dropped 1.4% on Tuesday, marking its sixth day in a row of declines. The stock remains roughly 14% under its 52-week peak, according to MarketWatch data. 1
The crucial variable is procedure growth — tracking the number of surgeries performed on the da Vinci platform — since each operation tends to generate ongoing revenue from instruments, accessories, and services, beyond just the initial system sale.
Bernstein’s Lee Hambright labeled Intuitive a “top pick” before the report but called the company’s 2026 outlook “conservative,” TipRanks noted. UBS analyst Danielle Antalffy stayed with a Hold rating, pointing out that the preliminary sales beat last quarter might still raise eyebrows due to the slowdown suggested by the comparisons, the report said. 2
Intuitive announced on Jan. 14 that its preliminary fourth-quarter revenue hit roughly $2.87 billion, marking a 19% increase from the same period last year. The company installed 532 da Vinci systems during the quarter, including 303 of its latest da Vinci 5 models. It projects global da Vinci procedures will grow between 13% and 15% in 2026 compared to 2025. CEO Dave Rosa described the results as “strong” for the final quarter and full year but noted these are unaudited preliminary figures pending audit completion. 3
On Thursday’s call, investors hope to uncover details missing from the preliminary update — like what’s behind hospital buying trends, the balance of system sales versus leases, and if procedure growth is staying within the company’s 2026 target range.
The setup works both ways. If procedure volumes drop faster than anticipated, or hospitals delay purchases, Thursday’s modest gains could vanish just as fast.
Intuitive’s earnings report and management remarks come after the close Thursday. The outlook for procedure growth in 2026 will probably steer the stock’s direction heading into next week.
