Intuitive Surgical slips as investors weigh recent FDA stapler notice and post-earnings expectations

Intuitive Surgical (ISRG) is down 3.3% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears tied to renewed attention on a recent FDA early alert involving certain Intuitive surgical stapler reloads, alongside a valuation-driven pullback after the stock’s sharp post-earnings jump. Some investors may also be recalibrating expectations after the company’s 2026 procedure-growth outlook was viewed as not as aggressive as the market had priced in.

Details:

The FDA posted an early alert noting Intuitive advised customers to remove specific 8mm SureForm 30 gray reloads for curved-tip staplers from use/sale, following a customer letter dated March 11, 2026.

Intuitive’s recent quarterly update featured strong results and a raised 2026 da Vinci procedure-growth outlook, which helped drive a notable rally last week and left shares more vulnerable to profit-taking.

A market narrative has formed that the company’s 2026 procedure-growth range (roughly 13%–15%) was slightly below some analyst expectations, contributing to sensitivity around guidance.

After the earnings-driven move, at least one major bank trimmed its price target while keeping a positive rating, highlighting ongoing debate around valuation.

Sources:

FDA, Intuitive Surgical Investor Relations, Seeking Alpha, 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 39 times in the past 6 months. Of those trades, 0 have been purchases and 39 have been sales.

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

GARY S GUTHART has made 0 purchases and 4 sales selling 50,106 shares for an estimated $27,495,394.
HENRY L CHARLTON (EVP & Chief Commercial and Mkt) has made 0 purchases and 5 sales selling 13,731 shares for an estimated $7,963,980.
MARK BROSIUS (SVP & Chief Mfg and Supply Cha) has made 0 purchases and 8 sales selling 10,379 shares for an estimated $5,417,654.
MYRIAM CURET (EVP & Chief Medical Officer) has made 0 purchases and 13 sales selling 8,644 shares for an estimated $4,293,013.
BRIAN EDWARD MILLER (EVP & Chief Digital Officer) has made 0 purchases and 2 sales selling 3,500 shares for an estimated $2,012,500.
FREDRIK WIDMAN (VP Corporate Controller) has made 0 purchases and 5 sales selling 2,567 shares for an estimated $1,384,594.
CRAIG H BARRATT sold 750 shares for an estimated $435,000
PATRICIA L WADORS (SVP Chief Human Resources Offi) sold 220 shares for an estimated $109,936

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.

EARLY ACCESS

Receive ISRG Data Alerts

Real-time alerts on filings, insider trades, and market signals — before everyone else.

Get Alerts →

$ISRG Hedge Fund Activity

We have seen 1,209 institutional investors add shares of $ISRG stock to their portfolio, and 919 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 9,726,221 shares (-76.8%) from their portfolio in Q4 2025, for an estimated $5,508,542,525
J. STERN & CO. LLP added 2,115,814 shares (+18504.6%) to their portfolio in Q4 2025, for an estimated $1,198,312,417
FMR LLC added 1,577,557 shares (+31.6%) to their portfolio in Q4 2025, for an estimated $893,465,182
MILLENNIUM MANAGEMENT LLC added 1,225,985 shares (+469.8%) to their portfolio in Q4 2025, for an estimated $694,348,864
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO added 1,224,734 shares (+1043.3%) to their portfolio in Q4 2025, for an estimated $693,640,348
BLACKROCK, INC. removed 1,027,783 shares (-3.3%) from their portfolio in Q4 2025, for an estimated $582,095,179
AMUNDI removed 992,212 shares (-30.7%) from their portfolio in Q4 2025, for an estimated $561,949,188

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.

$ISRG Government Contracts

We have seen $465,600 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
4568117264!HOT SHEARS (MONOPOLAR CURVED SCISSORS) -: $52,680
4568137908!MEGA SUTURECUT NEEDLE DRIVER - X/XI: $18,945
4568140134!RELOAD, SUREFORM 60, 3.5 BLUE, 6 ROW: $18,080
4568140136!STAPLER, SUREFORM 60: $14,740

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard.

$ISRG Congressional Stock Trading

Members of Congress have traded $ISRG stock 4 times in the past 6 months. Of those trades, 4 have been purchases and 0 have been sales.

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

REPRESENTATIVE GILBERT RAY CISNEROS, JR. has traded it 3 times. They made 3 purchases worth up to $45,000 on 01/30, 12/10, 11/18 and 0 sales.
SENATOR MARKWAYNE MULLIN purchased up to $50,000 on 12/29.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API.

$ISRG Analyst Ratings

Wall Street analysts have issued reports on $ISRG in the last several months. We have seen 3 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

BTIG issued a "Buy" rating on 01/23/2026
Truist Securities issued a "Buy" rating on 12/18/2025
RBC Capital issued a "Outperform" rating on 12/17/2025

To track analyst ratings and price targets for $ISRG, check out Quiver Quantitative's $ISRG forecast page.

$ISRG Price Targets

Multiple analysts have issued price targets for $ISRG recently. We have seen 15 analysts offer price targets for $ISRG in the last 6 months, with a median target of $590.0.

Here are some recent targets:

Matt Miksic from Barclays set a target price of $651.0 on 04/23/2026
Mike Kratky from Leerink Partners set a target price of $573.0 on 04/22/2026
David Rescott from Baird set a target price of $610.0 on 04/22/2026
Adam Maeder from Piper Sandler set a target price of $580.0 on 04/22/2026
Ryan Zimmerman from BTIG set a target price of $574.0 on 04/22/2026
Richard Newitter from Truist Securities set a target price of $580.0 on 04/15/2026
Anthony Petrone from Mizuho set a target price of $525.0 on 04/13/2026

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.