Reading the tape
NASDAQ: ISRG
Intuitive Surgical, Inc.
Healthcare · Medical - Instruments & Supplies
Market Cap
$159.39B
52w High
$603.88
52w Low
$427.84
P/E
53.62
Volume
2.39M
Outstanding Shares
354.16M
Price vs Fundamentals
Why The Stock Is Moving
Likely multiple compressionHigh confidence
1Y Price: -16.37%Revenue (TTM): 21.43%FCF (TTM): 62.4%P/FCF: 33rd pct
What changed
The stock fell 16.37% over the last year. Revenue grew 21.43% over the trailing twelve months. Operating margin moved from 28.2% to 30.45%. Free cash flow grew 62.4% over the trailing twelve months.
What the market seems to be pricing
Visible fundamentals weakened far less than the stock price, and the shares now sit around the 33rd percentile of their historical P/FCF range. That looks more like a rerating of the multiple than a collapse in the business.
What would invalidate this read
This read changes if operating margin (currently 30.45%) continues to decline, or if revenue growth turns negative. The bull case requires the business to hold its current trajectory.
Company profile
Intuitive Surgical, Inc. develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally.
CEODavid J. Rosa
SectorHealthcare
IndustryMedical - Instruments & Supplies
Employees15,638
IPO dateJun 16, 2000
Valuation
Forward P/E—
EV/EBITDA54.95
Enterprise value$199.07B
Stock splits
Oct 5, 2021↑ Forward
Every 1 shares became 3
Oct 6, 2017↑ Forward
Every 1 shares became 3
Jul 1, 2003↓ Reverse
Every 2 shares became 1
Profitability & growth
Revenue growth22.96%
Gross margin66.29%▼2.17%vs FY2024
Operating margin30.45%▲4.06%vs FY2024
ROE16.02%▲13.37%vs FY2024
Analyst consensus
RatingBuy
Target price$622.60▲38.34%
38
Buy
12
Hold
5
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Jul 28, 2026
Q3 FY26 · EPS est $2.48 · Revenue est $2.82B
View
Congressional Activity
Congress Trades in ISRG
STOCK Act disclosures from senators and representatives.
Markwayne Mullin
OKsenateRepublicanPurchaseJoint2025-12-29$15,001 - $50,000+17d to disclose