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Street View: Intuitive Surgical’s Q4 beat prompts focus on adoption, its cautious 2026 outlook

ReutersJan 23, 2026 11:44 AM

Intuitive Surgical ISRG.O on Thursday beat Wall Street estimates for fourth-quarter profit and revenue on growing demand for its surgical robots used in minimally invasive procedures

At least two brokerages raised price targets, with BTIG reiterating its “Buy” rating and $616 PT, Leerink Partners lifting its PT to $622 and keeping “Outperform,” while Citi maintained its “Neutral” rating

EYES ON 2026 PROCEDURE GROWTH AND NEW SYSTEM ROLLOUT

BTIG ("Buy", PT: $616) says procedure growth of about 18% in Q4 capped a strong year and expects the company’s 2026 procedure forecast to move higher as the year progresses

Morningstar (PT: $378) says Intuitive ended the year strong but offered a cautious 2026 outlook, noting continued expansion in outpatient and ambulatory surgery centers

Citi ("Neutral") says Q4 revenue and procedures were solid but notes pressure on profit margins from higher costs and tariffs, with management maintaining its 2026 targets

Leerink Partners ("Outperform", PT: $622) says strong Q4 sales and earnings, growing use of the da Vinci 5 system, and expansion into cardiac and outpatient surgery support its view that 2026 forecasts are conservative, though it notes risks in China, Japan and Europe

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