Intuitive Surgical Inc. (NASDAQ:ISRG) reported upbeat financial results for the first quarter of 2026, with both revenue and EPS beating the consensus.

Earnings Snapshot

The company reported revenue of $2.77 billion for the first quarter, beating analyst estimates of $2.62 billion, according to Benzinga Pro.

The robotic-assisted surgery company reported first-quarter adjusted earnings of $2.50 per share, beating analyst estimates of $2.10 per share.

Conference Call Takeaways

The company disclosed strong adoption of its Da Vinci 5, SP, and Ion systems, with solid procedure growth in the U.S. and Europe, partly offset by weaker performance in Asia.

For 2026, Intuitive Surgical now expects Da Vinci procedure growth of 13.5%–15.5%, up from the prior 13%–15% range.

The company expects growth to be led by U.S. general surgery and international non-urology procedures.

The outlook factors in potential pressures from U.S. insurance subsidy changes, macro-driven constraints in Europe, China’s tender dynamics, Japan’s capital environment, and obesity drug adoption trends.

Meanwhile, the company now sees adjusted gross margin at 67.5%–68.5%, improved from the prior outlook, reflecting a lower tariff impact along with higher costs in areas such as freight and semiconductor memory.

The company also continues to invest in digital tools and AI to improve surgical outcomes and efficiency.

Management highlighted ongoing international expansion, including European distributor acquisitions, while also noting competitive and regulatory pressures across certain markets.

Analyst Consensus & Recent Actions

The stock carries a Buy Rating with an average price target of $608.57. Recent analyst moves include:

• BTIG: Buy (Maintains Target to $574.00) (April 22)
• Truist Securities: Buy (Lowers Target to $580.00) (April 15)
• Mizuho: Neutral (Lowers Target to $525.00) (April 13)

William Blair analyst says the company’s growth drivers remain solid, including DV5 adoption, 31% growth in emergent procedures, and strong OUS momentum.

However, headwinds included softness in parts of Asia (China and Japan), slightly lower U.S. system placements, a 10% decline in bariatric procedures (as expected), and some international stocking effects, adds the analyst.

ISRG Stock Price Activity: Intuitive Surgical shares were up 2.13% at $460.88 during premarket trading on Wednesday, according to Benzinga Pro data.

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