Intuitive Surgical slips as antitrust settlement charge overshadows strong Q3 growth

Intuitive Surgical (ISRG) is down 6.2% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver is the company’s third-quarter earnings release, which included a large one-time legal charge tied to an antitrust class action settlement. While underlying demand trends looked strong, investors appeared to focus on the hit to GAAP profit and the new litigation overhang.

Details:

Intuitive said third-quarter 2026 GAAP net income fell to $523 million, or $1.49 per diluted share, from $704 million, or $1.95 per diluted share, a year earlier.

The earnings release disclosed a $450 million pre-tax charge related to a proposed settlement of previously disclosed antitrust class action litigation, equal to $347 million after tax or $0.99 per diluted share.

Core operating trends were stronger than the share move suggests: revenue rose 22% to $3.05 billion, worldwide procedures grew about 15%, and da Vinci system placements increased to 546 from 427 a year earlier.

The company also said the settlement still requires court approval, which may have added uncertainty even though non-GAAP net income rose to $1.05 billion, or $3.00 per diluted share.

Sources:

Intuitive Surgical, SEC, Investing.com

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$ISRG Insider Trading Activity

$ISRG insiders have traded $ISRG stock on the open market 34 times in the past 6 months. Of those trades, 0 have been purchases and 34 have been sales.

Here’s a breakdown of recent trading of $ISRG stock by insiders over the last 6 months:

GARY S GUTHART sold 10,000 shares for an estimated $4,000,000
IMAN JEDDI (SVP & GM da Vinci Platforms &) sold 5,625 shares for an estimated $2,365,593
AMY L LADD has made 0 purchases and 4 sales selling 1,091 shares for an estimated $471,789.
FREDRIK WIDMAN (VP Corporate Controller) has made 0 purchases and 2 sales selling 1,089 shares for an estimated $407,765.
MARK BROSIUS (EVP & Chief Mfg and Supply Cha) has made 0 purchases and 24 sales selling 849 shares for an estimated $329,868.
GARY LOEB (EVP & Chief Legal and Complian) has made 0 purchases and 2 sales selling 800 shares for an estimated $321,256.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$ISRG Hedge Fund Activity

We have seen 1,061 institutional investors add shares of $ISRG stock to their portfolio, and 1,092 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

INVESCO LTD. added 8,106,133 shares (+216.9%) to their portfolio in Q2 2026, for an estimated $3,223,646,971
JPMORGAN CHASE & CO added 4,231,033 shares (+inf%) to their portfolio in Q2 2026, for an estimated $1,682,597,203
SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 2,802,568 shares (+inf%) to their portfolio in Q2 2026, for an estimated $1,114,525,242
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 1,638,953 shares (+77.8%) to their portfolio in Q2 2026, for an estimated $651,778,829
PRICE T ROWE ASSOCIATES INC /MD/ removed 1,263,437 shares (-10.1%) from their portfolio in Q2 2026, for an estimated $502,443,626
FMR LLC removed 1,226,104 shares (-22.4%) from their portfolio in Q2 2026, for an estimated $487,597,038
WINSLOW CAPITAL MANAGEMENT, LLC removed 1,152,910 shares (-99.4%) from their portfolio in Q2 2026, for an estimated $458,489,248

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$ISRG Government Contracts

We have seen $272,040 of award payments to $ISRG over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

INTUITIVE DAVINCI ROBOT MAINTENANCE SERVICE: $172,000

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard. You can access data on government contracts through the Quiver Quantitative API government contracts endpoint.

$ISRG Price Targets

Multiple analysts have issued price targets for $ISRG recently. We have seen 3 analysts offer price targets for $ISRG in the last 6 months, with a median target of $518.0.

Here are some recent targets:

Vik Chopra from BMO Capital set a target price of $518.0 on 07/09/2026
Vijay Kumar from Evercore ISI Group set a target price of $430.0 on 07/06/2026
Travis Steed from B of A Securities set a target price of $520.0 on 05/18/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.