NEW YORK, January 27, 2026, 14:52 EST — Regular session
Shares of Intuitive Surgical, Inc. slipped 0.7% to $525.09 Tuesday, despite a fresh U.S. approval for its newest da Vinci 5 surgical robot. Meanwhile, the broader market moved higher, with the S&P 500 ETF (SPY) gaining roughly 0.5% and the Nasdaq-focused QQQ rising about 0.9%.
Just a day earlier, Intuitive announced the FDA had cleared its da Vinci 5 system for select cardiac procedures, including mitral valve repair. This expands the company’s ability to market the platform in the U.S. The clearance came via the FDA’s 510(k) pathway, which permits devices to gain approval by demonstrating substantial equivalence to an existing product. CEO Dave Rosa described the move as a “commitment to advancing minimally invasive cardiac surgery.” 1
The significance lies in how new procedures can boost “pull-through” sales — the instruments and accessories tied to each case. Investors often zero in on that recurring revenue. Cardiac surgery, being a more challenging arena, also serves as a key test; success here can influence purchasing choices across other hospital departments.
TD Cowen jumped on the positive bandwagon Tuesday, kicking off coverage with a Buy rating and a $660 price target. The firm highlighted that the da Vinci 5 launch might trigger a “ripple effect,” prompting hospitals to expand their fleets and swap out older models. Refurbished earlier-generation robots could then be funneled into more price-sensitive markets. 2
Intuitive laid out nine cleared cardiac procedures as part of its latest push, aiming to collaborate with a select group of U.S. sites through 2026 to build da Vinci 5 cardiac programs. The approved procedures cover valve repairs and left atrial appendage closures, putting Intuitive in the mix with established heart device giants like Boston Scientific, Abbott, and Edwards Lifesciences, according to MedTech Dive. 3
Investors are still absorbing Intuitive’s recent outlook on procedure growth, a crucial indicator for the company. In its January 22 earnings release, Intuitive projected da Vinci procedure growth of roughly 13% to 15% for 2026, along with a non-GAAP gross margin between 67% and 68%. This forecast factors in an estimated 1.2% revenue hit from tariffs. 4
Traders are focused on timing now. Cardiac programs need training, careful patient selection, and usually take time to build up significant case volumes.
The rollout begins on a modest scale, and the stock’s valuation offers little cushion for setbacks — be it sluggish adoption, postponed hospital budgets, or heavier trade and tariff expenses than anticipated.
Tuesday’s subdued moves seemed partly driven by positioning. Growth stocks with high multiples often sway with shifts in rate outlooks and risk appetite, even if their company news is solid.
Investors are focusing on two key points: early signs that cardiac programs expand beyond a limited number of sites, and fresh data on procedure trends as 2026 gets underway. On the broader stage, eyes shift to the Federal Reserve’s policy announcement set for Wednesday, January 28, at 2:00 p.m. ET, followed by Chair Jerome Powell’s press briefing at 2:30 p.m. ET. 5
