Overview
- Intuitive Surgical closed 2025 with 532 fourth‑quarter da Vinci placements, an installed base of 11,106 systems, and about 18% growth in annual procedures.
- Management projects a moderation to roughly 13%–15% procedure growth in 2026.
- TD Cowen initiated coverage on Jan. 26 with a Buy rating and a $660 price target, citing underestimated longer‑term procedure growth.
- Freedom Capital Markets raised its target to $610 and upgraded to Buy, pointing to expected benefits from the da Vinci 5 system.
- About 75% of revenue comes from recurring instruments, accessories, and services, the FDA cleared an AI lung‑biopsy visual aid in late 2025, and shares trade near 67x earnings versus about 28x for the S&P 500.