Intuitive Surgical’s first quarter results for 2026 exceeded Wall Street’s expectations, with management crediting the outcome to strong global procedure growth and expansion of the da Vinci and Ion platforms. CEO David Rosa pointed to a 17% increase in total procedures, including “broad-based adoption across da Vinci and Ion as customers continue to advance minimally invasive care.” The company also highlighted notable gains in after-hours and non-urology procedures, as well as expanding uptake of newer systems like da Vinci 5, which further lifted overall utilization.

Is now the time to buy ISRG? Find out in our full research report (it’s free for active Edge members).

While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.

Our Top 5 Analyst Questions From Intuitive Surgical’s Q1 Earnings Call

• Travis Steed (Bank of America) asked about the role of AI and digital infrastructure in Intuitive’s strategy. CEO David Rosa detailed plans for layered AI capabilities, emphasizing clinical value and data-driven differentiation via da Vinci 5’s installed base.

• Larry Biegelsen (Wells Fargo) pressed for specifics on the appendectomy and Japan reimbursement opportunities. CFO Jamie Samath indicated it’s too early to size the market impacts, but flagged promising early outcomes and incremental reimbursement for select procedures.

• Robert Marcus (JPMorgan) questioned how much further utilization and procedure growth can drive system placements. Samath said further gains depend on regional mix and da Vinci 5 adoption, but declined to quantify the opportunity.

• Frederick Wise (Stifel) asked why international instrument and accessory growth outpaced procedures. Samath attributed it to lumpy distributor ordering and stocking patterns, with FX also contributing.

• David Roman (Goldman Sachs) inquired about SP platform adoption and international strategy. Management outlined continued investment in geographic and procedural clearances, and a localized approach to market access and pricing.

Catalysts in Upcoming Quarters

Looking ahead, the StockStory team will focus on (1) the pace of adoption for recently launched products such as Force Feedback instruments and the SP stapler, (2) the impact of new reimbursement policies and expanded indications in key international markets, and (3) the rollout and utilization of digital and AI-enabled features. Additional signposts include Intuitive’s ability to sustain innovation-led revenue growth and navigate input cost pressures.

Intuitive Surgical currently trades at $472.05, up from $451.29 just before the earnings. Is the company at an inflection point that warrants a buy or sell? The answer lies in our full research report (it’s free).

High-Quality Stocks for All Market Conditions

WHILE YOU’RE HERE: Top 9 Market-Beating Stocks. The best stocks don't just beat the market once. They do it again. And again. Robust revenue growth, rising free cash flow, returns on capital that leave their competition in the dust. The market has already rewarded these businesses.

But our AI platform says the party isn't over. Find out which 9 stocks made the cut this week — FREE. Get Our Top 9 Market-Beating Stocks for Free HERE.

Stocks that have made our list include now familiar names such as Nvidia (+1,326% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today.