INTUITIVE SURGICAL INC · Orthopedic, Prosthetic & Surgical Appliances & Supplies

ISRG

Low riskAI: Robotics and autonomyNext report: Around Jan 13, 2027 (est.)

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The short version

A high-quality, profitable business with growing sales.

Going well

Sales up 22% in the latest quarter vs a year ago
Profitable every year for 10 years
Sales up 21% last year

Money moves

Insiders sold $11.9M in the last 30 days, all through pre-planned sales
Institutions added 4.8% to their holdings in the quarter ending June 2026 (1045 bought, 1078 sold)
Held by Philippe Laffont (Coatue), Ray Dalio (Bridgewater), Cathie Wood (ARK Invest)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$451.67-0.1% that day

Company value: $156.6B; Share price times all shares
Price vs profit (P/E): 54.7x; You pay about $55 for each $1 of yearly profit
Price vs sales: 13.5x; Company value is 13.5 times a year of sales
Cash vs value: 2%; Cash as a share of company value

From ISRG's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Sep '26

$3.0B+22% vs a year earlier

Dec '23Tap a barSep '26

Last 12 months: $11.6B, up 20% from the 12 months before. Over 5 years, sales grew about 18% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of ISRG. Starting points are the company's recent numbers.

Sales growth+20% a yearRecently: +20% a yearProfit margin26%Last 12 months: 25.5%P/E at the end40xToday: 54.7x. Many steady companies trade at 12x to 25xShare count change0% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$28.8B

Profit in 5 years$7.5B

Price these guesses point to$864.35+91% vs $451.67 todayAbout +14% a year, before dividends

What today's price needs: with a 26% margin and a 40x P/E, sales would have to grow about 5.4% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

7/7Strong

PassReturn on equity 15%+Earns a lot on the money owners have in the business.16.7%
PassDebt under half of equityNot relying on borrowed money.No debt reported
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.28.4%
PassProfitable every yearSteady profits, not one good year.10 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$3.0B
PassShare count not growingNot diluting owners. Falling means buybacks.+0.2% in 3 years
PassGross margin 40%+Pricing power: sells for well above what it costs to make.66.0%

Revenue: $10.1B; +20.5% vs prior year
5-year growth: +18.2%/yr; revenue, per year
Total debt: None; 0.00x equity
Current ratio: 4.87x; short-term assets / bills due

From annual reports filed with the SEC. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Sep 30, 2026

Reported Oct 20After close4:05 pm ET

Revenue: $3.0B; +21.7% YoY
EPS: $1.49; vs $1.95
Op. margin: 19.4%; -10.9 pts
Gross margin: 68.4%; +2.0 pts
Free cash flow: $1.1B
Share count: -2.8%; vs a year ago

Insider rating

Last 90 days

43Mixed

Pre-planned sales of $11.9M (weaker signal)

50 is neutral. Buying by more insiders, top executives and bigger stakes raises it. Selling lowers it; pre-planned sales count less.

Weekly insider trend

13 weeks agoBoughtSoldThis week

Filing buzz

Last 7 days vs normal

86/ 100

This week: 9
Normal week: 1.5
vs normal: 6.1x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Steady+4.8%

Institutions added 4.8% to their holdings. 1045 bought, 1078 sold.

Shares held by institutions306.9M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

-0.5%

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

No debt reported

Shares outstandingLatest reported

347M

Earnings reports

Last 12

Next reportAround Jan 13, 2027 (est.)Estimated from the same quarter last year

Results filedOct 20
Results filedJul 16
Results filedApr 21
Results filedJan 22
Results filedJan 14

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

No offerings, red flags or new big holders. Clean record.

Insider trades

Open-market buys and sells, last 90 days

Bought$00 insiders

Sold$11.9M4 insiders, 4 pre-planned

Insider	Trade	Shares	Avg price	Value	Owns after	Date
Craig H BarrattDirector	Sell	1K	$443.80	$510K	0	Oct 23Filing ↗
Sold entire stake Pre-planned sale (10b5-1) Filed 3 days after
Gary S GuthartDirector	Sell	20K	$451.61	$9.1M	1M	Oct 23Filing ↗
-1.6% of their holdings Held via Trust Pre-planned sale (10b5-1) Filed 3 days after
Patricia L WadorsSVP Chief Human Resources Offi	Sell	1K	$443.80	$478K	0	Oct 23Filing ↗
Sold entire stake Pre-planned sale (10b5-1) Filed 3 days after
Fredrik WidmanVP Corporate Controller	Sell	4K	$453.21	$1.8M	1K	Oct 23Filing ↗
-79.8% of their holdings Pre-planned sale (10b5-1) Filed 3 days after