Intuitive Surgical Q1 Beats Estimates, Shares Up

Intuitive Surgical reported Q1 2026 revenue of $2.77 bn and EPS $2.50, beating analyst expectations of $2.62 bn and $2.12 respectively.
Gross margin rose to 67.8% versus the expected 66.1%, and worldwide da Vinci and Ion procedures grew ~17% YoY.
The company placed 431 da Vinci systems, expanding the installed base to 11,395 units, and raised full‑year da Vinci growth guidance to 13.5‑15.5%.
Shares jumped 2.4% pre‑market; Jefferies cut the price target to $515 from $560, citing potential growth moderation and lower med‑tech multiples.