Intuitive Surgical reported second-quarter 2026 revenue of $2.89 billion, up 18.4% year-over-year, and adjusted earnings per share of $2.80, beating consensus by $0.30, yet its stock sold off sharply as U.S. da Vinci procedure growth moderated to 12% year-over-year. Worldwide procedure growth reached 16%, gross margin expanded to 70.0% on a non-GAAP basis, and the company placed 468 da Vinci systems, an 18% increase. Management reaffirmed full-year 2026 worldwide da Vinci procedure growth of 13.5% to 15.5% and raised its non-GAAP gross margin guidance to 68.0% to 69.0%, while some analysts flagged headwinds from the expiry of enhanced ACA tax credits and a structural decline in bariatric procedures tied to GLP-1 drugs. Seeking Alpha's quant system rates the stock a Hold, with an A+ in profitability but a D- in valuation and a D in momentum following a post-earnings decline of 9% to 14%.
Intuitive Surgical IncU.S. da Vinci procedure growth slowed to 12%, below expectations, and analysts flagged headwinds from GLP-1 drugs reducing bariatric procedures
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