INTUITIVE SURGICAL INC(ISRG)Stock Analysis
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Rank #30 of 2,879 stocksTOP 5%
Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.
Revenue Growth
Profitability
Balance Sheet
Earnings Quality
Free Cash Flow
Institutional Flow
Revenue Scale
Dilution Risk
ISRG Stock Analysis & AI Quality Score
AI stock analysis and institutional research for INTUITIVE SURGICAL INC (ISRG), a Healthcare sector company. 13F Pro's AI-powered ranking engine scores ISRG at 81.4/100 on a 32-signal composite quality model, placing it at rank #30 of 2,879 stocks — the top 5% of the AI-ranked universe. ISRG scores in the top quartile across balance sheet strength (92.4), profitability (90.5), revenue scale (86.6). Shareholder dilution risk is elevated at 19.9/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), INTUITIVE SURGICAL INC reports quarterly revenue of $2.8B, net income of $821.5M, an operating margin of 30.9%. Top institutional holders of ISRG by reported 13-F value include BlackRock,, VANGUARD CAPITAL MANAGEMENT, STATE STREET, based on the most recent SEC filings. ISRG trades on the Nasdaq exchange and files with the SEC under CIK 1035267. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate ISRG daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for INTUITIVE SURGICAL INC directly from SEC EDGAR. INTUITIVE SURGICAL INC's 13F Pro composite quality score has ranged between 8 and 83 since 2021, currently 81.4 — an improving long-term trajectory across 56 quarterly and live scoring snapshots.
What's Driving ISRG's Business? Latest 10-Q Breakdown
✓ 24/24 datapoints verifiedAI-extracted from INTUITIVE SURGICAL INC's 10-Q filed 2026-04-22 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Total revenue grew 23% to $2.77B, driven by 16% da Vinci procedure growth and 23% instruments & accessories revenue increase.
Biggest Revenue Drivers
Total revenue: $2.77B+23% YoY
Driven by 16% higher da Vinci procedure volume and 39% higher Ion procedure volume.
Increase in da Vinci system placements, higher operating lease revenue, and higher ASPs from da Vinci 5 sales.
Larger installed base of systems producing service revenue and favorable product mix from da Vinci 5 placements.
Largest Expense Items
Higher direct project costs for expanded product development initiatives and increased personnel-related expenses.
Higher personnel-related expenses from increased headcount and employee compensation, partially offset by lower legal expenses.
Product cost reductions and fixed overhead leverage offset by higher tariff expenses of ~$28M and higher service costs.
Margins: Gross profit margin expanded to 66.1% from 64.7% YoY, driven by product cost reductions, fixed overhead leverage, and lower logistics costs, partially offset by higher tariff expenses. Operating income increased 48% to $855M.
Watch Items from the Filing
- Tariffs recognized in cost of revenue were ~$28M in Q1 2026; future changes to tariff rates could have material adverse effect. Company manufactures majority of instruments in Mexico (USMCA-qualified) and imports endoscopes from Germany, both subject to ongoing tariff uncertainty.
- China market headwinds: governance campaign by Chinese government has created heightened scrutiny and delayed tenders; competitive dynamics from domestic robotic-assisted surgical system manufacturers contributed to fewer systems placed than anticipated in Q1 2026.
- Usage-based operating lease revenue (variable revenue) creates volatility; customers can exit without penalty, and company not guaranteed to recuperate system costs if utilization differs from expectations.
- Product liability litigation ongoing: company defendant in multiple individual product liability lawsuits across state and federal courts alleging da Vinci surgical system defects; company unable to estimate possible loss in excess of current accrual at this time.
- Commercial litigation antitrust claims pending: SIS antitrust case appealed to Ninth Circuit (oral argument scheduled June 25, 2026); class action da Vinci Robot Antitrust Litigation has class certification granted (March 31, 2025) with no trial date scheduled.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Revenue
Q1 2026
$2.8B
Net Income
Q1 2026
$821.5M
Free Cash Flow
Q1 2026
$808.6M
Operating Margin
Q1 2026
30.9%
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
+61.8% YoYNet Income
+116.0% YoYOperating Income
+86.8% YoYEPS (Diluted)
+115.6% YoYTotal Assets
+57.7% YoYOp. Cash Flow
+103.3% YoY| Metric | FY 2025 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2017 |
|---|---|---|---|---|---|---|
| Revenue | $10.06B +61.8% | $6.22B +9.0% | $5.71B +31.0% | $4.36B -2.7% | $4.48B +43.1% | $3.13B |
| Net Income | $2.86B +116.0% | $1.32B -22.4% | $1.70B +60.7% | $1.06B -23.1% | $1.38B +105.6% | $670.9M |
| Operating Income | $2.95B +86.8% | $1.58B -13.4% | $1.82B +73.5% | $1.05B -23.6% | $1.37B +29.3% | $1.06B |
| EPS (Diluted) | $7.87 +115.6% | $3.65 -21.7% | $4.66 +375.5% | $0.98 -23.6% | $1.28 -33.3% | $1.92 |
| Total Assets | $20.46B +57.7% | $12.97B -4.3% | $13.55B +21.4% | $11.17B +14.8% | $9.73B +68.5% | $5.78B |
| Operating Cash Flow | $3.03B +103.3% | $1.49B -28.6% | $2.09B +40.7% | $1.48B -7.1% | $1.60B +39.7% | $1.14B |
AI Insight: ISRG Financial Trends
ISRG delivered strongest operating income and cash flow in Q1 2026, with revenue growth stabilizing above $2.7B.
• Operating income reached $855M in Q1 2026, up 16.3% YoY from $735M in Q4 2024, with operating margin expanding to 30.8%.
• Operating cash flow grew to $912M in Q1 2026 from $620M in Q2 2024, a 47% increase over eight quarters.
• Net income rose to $822M in Q1 2026 versus $527M in Q2 2024, reflecting 56% growth with consistent profitability gains.
⚠ Sequential revenue growth decelerated to 3.7% in Q1 2026 from 18.5% in Q4 2025; monitor for seasonal normalization.
⚠ Equity decreased to $17.5B in Q1 2026 from peak of $17.8B in Q4 2025; track capital allocation decisions.
AI Insight: ISRG Ratio Trends
Operating margin and ROIC both reached multi-quarter highs in Q1 2026, with ROE climbing to 18.8% — strongest profitability and capital efficiency in the dataset.
• OpMargin stabilized near 30% from Q4 2024 onward; Q1 2026 hit 30.9%, matching TTM 30.4%. Consistent high-margin execution.
• ROIC expanded from 13.5% in Q1 2025 to 19.6% in Q1 2026 — a 610bp recovery and the highest level in the full period.
• ROE surged from 14.3% in Q2 2024 to 18.8% in Q1 2026; ROA rose from 12.7% to 16.3% — sustained improvement in asset and equity returns.
⚠ Q1 2025 saw OpMargin dip to 25.7% and ROIC crater to 13.5% — a sharp divergence from trend. Confirm this was transitory.
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Top Institutional Holders of ISRG
BlackRock, Inc.
$13.9B30,075,905 shVANGUARD CAPITAL MANAGEMENT LLC
$10.6B23,079,490 shSTATE STREET CORP
$7.3B15,846,973 shGEODE CAPITAL MANAGEMENT, LLC
$3.9B8,466,851 shCapital World Investors
$3.7B8,048,010 shVANGUARD PORTFOLIO MANAGEMENT LLC
$3.3B7,233,971 shMORGAN STANLEY
$2.8B6,058,840 shFMR LLC
$2.5B5,477,234 shALLIANCEBERNSTEIN L.P.
$2.2B3,812,663 shWELLINGTON MANAGEMENT GROUP LLP
$1.8B3,959,290 sh
| Fund | Value | Shares |
|---|---|---|
| BlackRock, Inc. | $13.9B | 30,075,905 |
| VANGUARD CAPITAL MANAGEMENT LLC | $10.6B | 23,079,490 |
| STATE STREET CORP | $7.3B | 15,846,973 |
| GEODE CAPITAL MANAGEMENT, LLC | $3.9B | 8,466,851 |
| Capital World Investors | $3.7B | 8,048,010 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $3.3B | 7,233,971 |
| MORGAN STANLEY | $2.8B | 6,058,840 |
| FMR LLC | $2.5B | 5,477,234 |
| ALLIANCEBERNSTEIN L.P. | $2.2B | 3,812,663 |
| WELLINGTON MANAGEMENT GROUP LLP | $1.8B | 3,959,290 |
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Is ISRG a good stock to buy?
13F Pro's AI-powered analysis of INTUITIVE SURGICAL INC (ISRG) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for ISRG are available on the ISRG stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own ISRG?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling ISRG. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of INTUITIVE SURGICAL INC's investment landscape.